Month: September 2021

(iStock) In an attempt to reverse decades of economic decay and attract investment, a city outside Pittsburgh is dangling a major incentive on its vacant homes. Monessen Mayor Matt Shorraw said his administration will wipe out back taxes on properties if a new owner commits to cleaning them up and renovating, according to the Wall…

Credit Suisse Group partners with MARK on $1B-plus rental housing fund

Sep 18, 2021

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Josip Kardun (LinkedIn) Credit Suisse Group AG is partnering with investment firm MARK on a European rental investment venture called DOMA. The partners aim to raise an initial 350 million euros for the fund, the equivalent of $414 million, according to Bloomberg. DOMA is targeting single-family homes and small multifamily buildings and wants to eventually…

London fire officials say over 1K buildings unsafe in a fire

Sep 18, 2021

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Grenfell Tower (Wikipedia) London fire officials say more than a thousand buildings in the British capital are now unsafe in the event of a fire, with a large majority of those suffering from the same problem that contributed to the deadly Grenfell Tower blaze. London Fire Brigade, the city’s fire and rescue service, recently added…

Robert Durst convicted of murder

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Robert Durst (Getty) Justice has finally caught up with Robert Durst. The notorious heir to the Durst real estate fortune was convicted of murder Friday by a Los Angeles jury for the execution-style shooting of his friend Susan Berman in 2000. It was one of three confirmed or suspected homicides for which the 78-year-old had…

CIM suing SBE Entertainment for unpaid rent at Hollywood eatery

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CIM Group’s Avi Shemesh and Lono Hollywood at 6611 Hollywood Blvd (Google Maps) CIM Group is suing SBE Entertainment over skipped rent at a Hollywood restaurant, alleging the nonpayment stretches back to the start of the pandemic. CIM is seeking $221,300 in rent and maintenance fees for Lono Hollywood, according to a suit filed last…

Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal

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Taconic Capital Advisors’ principals Frank Brosens and Ken Brody and Wells Fargo CEO and president Charles Scharf (Getty, Taconic Capital, Wells Fargo) Taconic Capital Advisors filed a $400 million suit against Wells Fargo alleging the financial giant failed to protect its investment in residential mortgage-backed securities, despite knowing many of the loans could be worthless.…

Co-living startup Treehouse plans second complex in Los Angeles

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Treehouse co-founders Joe Green and Prophet Walker and with 4421 S. Crenshaw Boulevard (LinkedIn via Walker, Warcus & Millichap, WikiMedia / Tony Maesto) A co-living startup in Los Angeles has filed plans to build its second residential complex in Los Angeles, this time in Park Mesa Heights. Treehouse, co-founded by Prophet Walker and Joe Green,…

KKR, Cornerstone in $1B JV to develop health care facilities

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Cornerstone Companies CEO J. Taggart Birge and KKR Co-Chairman Henry Kravis (Cornerstone, Getty, iStock) KKR and Cornerstone Companies are joining forces to develop health care facilities in the United States. Cornerstone already has experience in the market, as the company is a health care real estate investment, development and management firm. It is also seeding…

Riot Games subleases Beachbody Company’s Santa Monica offices

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