Month: June 2021

Champlain Towers South (Getty) As lawsuits mount against the Champlain Towers South condominium association, the building’s and unit owners’ insurers will play key roles in footing the bill for any payouts arising from legal claims, according to local property insurance experts. Since the deadliest building catastrophe in South Florida history last Thursday, three residents have…

Supreme Court Justices Elena Kagan and Brett Kavanaugh (Getty) The CDC-imposed federal eviction moratorium will live on — at least for another month. In a 5-to-4 ruling late Tuesday, the Supreme Court rejected an emergency request to vacate the ban, which President Joe Biden extended last week for a fourth and likely final time. It…

President Donald Trump and Manhattan District Attorney Cyrus Vance (Trump by BRENDAN SMIALOWSKI/AFP via Getty Image; Vance by Kevin Hagen/Getty Images) The Manhattan district attorney’s office is planning to charge the Trump Organization and its chief financial officer with tax crimes on Thursday, according to a report. The Trump Organization and Allen Weisselberg, the company’s…

Hyatt Regency LAX and Southwest Regional Council of Carpenters CEO Dan Langford (Hyatt) The Hyatt Regency at LAX Airport has been sold, and the new owner shouldn’t have any trouble finding help when there’s maintenance to be done — it’s a trust fund operated by a carpenters union. The Southwest Carpenters Trust Fund bought the…

Champlain Towers South exposed and deteriorated rebar (Getty) Raysa Rodriguez recounts a harrowing escape from her unit at the collapsed Surfside condominium, and lays out mounting warning signs in a newly filed lawsuit. Among them: a concrete chunk that had fallen from the garage ceiling and a “wide crack” above her parking space. In her…

RPT Realty CEO Brian Harper and Washington Prime Group CEO Louis Conforti (RPT, Twitter, iStock) Shares of mall owner Washington Prime were trading at about $5 before it filed this month for Chapter 11 bankruptcy, which will leave its common stockholders with an estimated 83 cents per share. What will be left of the cratering…

Rubicon Point Partners Managing Partners Ani Vartanian and Razmig Boladian (LinkedIn, iStock) Rubicon Point Partners has high hopes for a pair of distressed, remote-friendly office markets. The real estate investment firm has closed its new Rubicon First Ascent fund to acquire office space throughout San Francisco and Seattle, riding on confidence that office workers will…

ShipBob CEO Dhruv Saxena and president Divey Gulati (ShipBob) ShipBob, a logistics company that provides shipping and delivery services for e-commerce companies, raised another $200 million in funding, taking the company to virtual unicorn status. The Chicago-based firm raised the money in a rare Series E round led by Bain Capital Venture, which has been…

The partially collapsed 12-story Champlain Towers South condo building (Getty) UPDATED, June 29, 10:35 p.m.: The condo board sent a letter to unit owners of the Champlain Towers South in April cautioning the importance of major repairs, mere months before the oceanfront portion of the Surfside condo tower collapsed, trapping more than 150 people. The…

Miami-Dade Mayor Levine Cava and State Attorney Kathy Fernandez Rundle (Getty) UPDATED, June 29, 10:40 p.m.: State Attorney Katherine Fernandez Rundle will empanel a grand jury investigation to determine the cause of the fatal condo collapse in Surfside, as President Joe Biden plans a visit to the site. Miami-Dade County Mayor Daniella Levine Cava announced…