Month: June 2021

The post Photos: Devastation at Champlain Tower South appeared first on The Real Deal Los Angeles. Powered by WPeMatico

Riverside County (iStock) A prospective tenant and Riverside County nonprofit group have sued landlord Swaranjit “Mike” Nijjar and his company for allegedly discriminating against Black would-be renters. James Beasley and the Fair Housing Council of Riverside County sued Nijjar and Group XIII Properties in federal court this month, according to LAist. The suit claims that…

The suit cites public comments made by association attorney Ken Direktor that structural “repair needs had been identified,” but were not done (Getty) The first known lawsuit has been filed in the aftermath of the Surfside condominium building collapse that left 159 missing and at least four dead. Unit owner and resident Manuel Drezner sued…

KKR CEOs George R. Roberts and Henry Kravis with My Community Homes CEO Marcos Egipciaco (Linkedin, iStock) There’s a new single-family landlord on the block — and it’s another investor. KKR & Co. will invest real estate and private credit funds in the Miami-based platform My Community Homes, which will buy and manage rentals nationwide,…

Champlain Tower South at 9301 Collins Avenue (Getty) When the ocean-facing portion of the 12-story Champlain Tower South condo building in Surfside partially collapsed around 2 a.m. Thursday, it injured dozens and likely killed many more. One has been confirmed dead. Ninety-nine people remained missing 15 hours after the collapse with 102 people accounted for,…

Last week, 12 real estate groups co-signed a letter addressed to President Biden imploring the administration to allow the moratorium to expire (Getty) The Biden administration Thursday extended the federal ban on evictions for a fourth and likely final time, pushing a moratorium set to sunset at the end of the month until July 31.…

Compass CEO Robert Reffkin (Getty, iStock) Less than three months after going public amid a wave of investor optimism about housing markets and enthusiasm for real estate technology, Compass shares have dropped almost 30 percent. Compass, the second-biggest residential brokerage in the U.S., closed at $14.35 a share in New York trading Thursday, up 34…

Lessen CEO Jay McKee and Fifth Wall managing partner Brendan Wallace (LinkedIn) Lessen, a rental property management platform, raised $35 million in Series A funding. The two-year-old company connects single-family and multifamily owners to plumbers, electricians and related service and maintenance businesses. Venture capital firm Fifth Wall led the round as it continues to place…

George Rosenthal with his 180-acre Malibu property (Getty, The Agency Real Estate) Real estate developer and hotelier George Rosenthal has relisted his 180-acre Malibu compound. Rosenthal is asking $38 million for the spread at 2900 Newton Canyon Road, according to the Los Angeles Times. It’s the largest chunk of dirt in Malibu now on the…

Mark Calabria and Sandra Thompson (Getty, FHFA) Investors who bet that Fannie Mae and Freddie Mac would soon be privatized have another thing coming. The Biden administration ousted the head of the Federal Housing Finance Agency after the Supreme Court ruled that its current structure is unconstitutional, the Wall Street Journal reported. The move will…