Month: March 2021

Matthias Krull (Linkedin, iStock, US District Court – Sourthern District of Florida/Illustration by Alexis Manrodt for The Real Deal) A Swiss banker’s sentence was cut for his role in an alleged $1 billion international money laundering scheme that illegally funneled money into South Florida real estate. Matthias Krull was a key figure in a sophisticated…

(Getty, iStock/Illustration by Alexis Manrodt for The Real Deal) When Jack Pritchett scored the listing for a 2,300-square-foot home in Malibu, he thought he had a decent property on his hands. A mile north of the Pacific Coast Highway, the four-bedroom sits on 2 acres, with views of the ocean, mountains and canyons. Priced at…

(Getty, iStock) Los Angeles County committed $10 million to a program that would provide incentives to landlords who allocate entire buildings to house homeless people with vouchers. The owners of 10 buildings with 373 units total have expressed interest in the program, whose funding would be spread across five years, according to the Los Angeles…

Lynsi Snyder’s property was last listed for just short of $20 million. (Getty, Realtor.com) In-N-Out Burger’s billionaire owner and granddaughter of the founders relisted her Bradbury Estates mansion for $16.8 million. The price tag Lynsi Snyder served up on the property at 340 Old Ranch Road makes it the most expensive home on the market…

A photo illustration of the Broadmoor Golf Course in Oregon (Broadmoor, iStock) It’s a hole-in-one for warehouse developers. Builders have been turning golf courses into warehouse locations as the industrial space boom continues, according to Bloomberg Businessweek. In May, for example, Onondaga County in New York announced that Amazon would build a $350 million distribution…

Neighbor.com CEO Joseph Woodbury. A company looking to become the Airbnb for storage has raised $53 million in a Series B funding round. Neighbor.com, founded in 2017, allows users to rent out storage space in their properties. The Utah-based startup will use the funding to expand its network of hosts and renters, the company announced…

Mayor Eric Garcetti (Getty, iStock) The city of Los Angeles is launching its $235.5 million rent relief program on March 30, opening applications for both landlords and tenants. While the pool of funds is twice as large as the city’s last rent relief program, city officials expect it will not be enough to meet demand,…

A rendering of Baccarat Miami With half the business elite seemingly moving to Miami, South Florida’s residential developers are betting that migration momentum will overcome even the market’s significant supply glut.    They’re launching major condo towers set to bring thousands of new luxury units to the area, citing the spillover from booming single-family sales.…

Veev CEO Amit Hallar (Veet, iStock) Modular home builder Veev has raised $100 million to further its goal of speeding up residential construction. The startup, which uses prefabrication and 3D printing, raised the new cash on TASE UP, a platform launched by the Tel Aviv Stock Exchange that lets tech companies receive funds from institutional…

The property includes a large model train that spans the yard. (Getty, Zillow) Jordana Reuben Yechiel, daughter of real estate mogul David Reuben, paid $29.4 million for a massive Beverly Hills estate that had been on the market for twice that much. The deal for the 26,800-square-foot mansion at 808 Rexford Drive closed late last…