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Month: January 2022

LA pol now faces ethics commission on payoffs from developers

Mitchell Englander (Lilly Lawrence/Getty Images, iStock) Imprisoned former Los Angeles Councilman Mitchell Englander now faces sanctions from the city’s ethics commission for misusing his office in accepting cash and other gifts from ...

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  • 21 Jan
  • The Real Deal
  • Uncategorized
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Xebec looks to flip Sylmar industrial to self

Randy Kendrick, chief executive officer, Xebec Realty, and 12975 Bradley Avenue in Sylmar, CA (Xebec Realty, LoopNet) Xebec Realty Partners bought an old industrial property in Sylmar and is planning to redevelop it in a new Class A ...

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  • 21 Jan
  • The Real Deal
  • Uncategorized
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Startup that wants to build car-free cities raises $30M Series A

From left: Ryan Johnson and Jeff Berens, co-founders of Culdesac, in front of a rendering of Culdesac Tempe (Culdesac, iStock) Culdesac, a startup with the lofty ambition of building America’s first car-free city, hauled in $30 million ...

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  • 21 Jan
  • The Real Deal
  • Uncategorized
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Flag is up on auction of Hollywood Hills mansion

John Kocinski, a one-time Grand Prix motorcycle racer turned real estate developer, in front of 9240 Robin Drive (Getty Images, Redfin, iStock/Illustration by Steven Dilakian for The Real Deal) Get ready for another Saturday morning in ...

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  • 21 Jan
  • The Real Deal
  • Uncategorized
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Blackstone, Starwood to pay $1.5B for WoodSpring Suites properties

From left: Stephen Schwarzman, chairman, Blackstone; Barry Sternlicht, chief executive officer, Starwood Capital Group (Getty Images, Brookfield Asset Management/Illustration by Steven Dilakian for The Real Deal) For the second time in ...

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  • 21 Jan
  • The Real Deal
  • Uncategorized
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Gelt touches down in Long Beach with apartment buy

Keith and Steve Wasserman and Volta on Pine (Gelt, Walter Dunlop) UPDATED: Jan. 21, 2022, 11:22 a.m.: Multifamily specialist Gelt has bought a recently built apartment complex in Downtown Long Beach for $156 million. The firm bought ...

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  • 21 Jan
  • The Real Deal
  • Uncategorized
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Metro Networks founder cuts $30M off Malibu getaway

27930 Pacific Coast Highway (Zillow,iStock) After two years on the market, billionaire David Saperstein has cut $30 million off the listing price of his Malibu estate. Saperstein, who made his fortune as founder of weather-information ...

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  • 20 Jan
  • The Real Deal
  • Uncategorized
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Long Beach explores tax-exempt bonds for “workforce housing”

Long Beach, California (Getty) The City of Long Beach is looking into selling tax-exempt bonds to finance the acquisition of residential buildings with an eye on renting units at reduced rates to middle-class residents. The move comes ...

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  • 20 Jan
  • The Real Deal
  • Uncategorized
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Oceanwide Center in SF up for sale once again

Rendering of Oceanwide Center in San Francisco (Foster + Partners) Oceanwide Center, the stalled, troubled project in Downtown San Francisco, is up for sale once again, three months after creditors seized the project from developer ...

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  • 20 Jan
  • The Real Deal
  • Uncategorized
  •  1

Existing home sales hit 15-year high in 2021

(iStock/Illustration by Kevin Rebong for The Real Deal) Sales of existing homes in 2021 reached their highest point in a decade and a half, but the market could be headed for a slowdown in 2022. The National Association of Realtors ...

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  • 20 Jan
  • The Real Deal
  • Uncategorized
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