Tishman Speyer CEO Rob Speyer and renderings of Collective & Brickyard campuses (Credit: Tishman Speyer) When you can’t sell… recapitalize instead? Tishman Speyer is now looking to refinance the Brickyard and Collective office campuses in Playa Vista for a combined $323 million, The Real Deal confirmed. The developer was initially hoping to sell both properties. […]
Massive industrial park in Los Alamitos sells for nine figures
Northwestern Mutual CEO John E. Schlifske and the building Southern California’s industrial market hasn’t cooled down a bit this summer. Alere, a pension fund advisor, has purchased the Los Alamitos Corporate Center for $128.5 million. Northwestern Mutual was the seller of the 17-building industrial park along Cerritos Avenue and Corporate Center Drive in Los Alamitos, […]
“It’s really bad optics”: What Adam Neumman’s $700M cashout says about The We Company’s future
WeWork CEO Adam Neumann (Credit: Getty Images) UPDATED July 19, 9:00 pm: Startups are valued by their potential to grow, and trust in the business model. In the We Company’s case, its $47 billion valuation is set to be tested by the confidence of public markets ahead of an upcoming IPO. But the flexible office […]
Developer gambles $1B project on Reno’s tech boom
A rendering of Reno’s Neon Line (Credit: Jacobs Entertainment) A developer is betting $1 billion on the largest development ever in Reno, Nevada, as the city reduces its economic reliance on the gambling industry. Jacobs Entertainment Corp. plans to transform a 20-block area on the west side of Downtown Reno into a residential and entertainment […]
The TRD weekly global digest
From left: London, Shanghai and Paris Every week, The Real Deal rounds up the biggest real estate news from around the globe. United Kingdom The future of the Tulip Tower has wilted. London Mayor Sadiq Khan denied approval for the controversial structure, which would have been nearly 1,000 feet tall. Starchitect Norman Foster and his firm, […]
Development opportunity? This investment firm snagged an aging office campus in hot El Segundo
Vella Group’s Zach Vella and the office in El Segundo An investment firm that just purchased a soon-to-be vacant El Segundo office campus could be looking at the move as a development opportunity in a fast-rising city. New York-based Vella Group paid $51 million for the 200,000-square-foot office campus, according to the Los Angeles Business […]