IDEAL Capital Group President Austin Herzog, Aegon Asset Management US CEO Gary Black, and the Novella Redondo A joint venture has purchased a storm-damaged apartment complex in Redondo Beach, with plans to overhaul the 105-unit development. IDEAL Capital Group and Aegon Real Assets paid $53.5 million for the Novella Redondo development at 616 Esplanade, according […]
Lands’ End is breaking up with Sears for Amazon
(Credit: iStock) Lands’ End is reducing its physical presence and reinforcing its efforts to sell clothing in the virtual world. The casual apparel retailer is closing its retail spaces inside Sears stores and has started selling some products online through Amazon, the Chicago Tribune reported. Wisconsin-based Lands’ End is preparing to close its last 40 […]
Con artist who sought nightclub deal with Aby Rosen gets 4 to 12 years in prison
Ana Sorokin (Credit: Getty Images) Anna Sorokin, a Russian national who swindled the upper crust of New York City and was known by the name “Anna Delvey,” was sentenced to four to 12 years in prison Thursday. “I am stunned by the depth of the defendant’s deception,” Justice Diane Kiesel said in the sentencing in […]
LAB Miami partners launch $50M proptech fund
Thomas “Tigre” Wenrich The partners behind the LAB Miami, a co-working space, are launching a proptech fund with the goal of raising $50 million, The Real Deal has learned. Thomas “Tigre” Wenrich, CEO of the LAB Miami, and his partners, Juan Pablo Cappello, Marco Giberti and Eduardo Barco plan to announce the fund at their […]
Pension fund manager gets $500M refinancing on national portfolio
U.S. Cellular Plaza and Wells Fargo interim CEO C. Allen Parker (Credit: Colliers and Wells Fargo) FCA Partners, an investment manager that counts one of the country’s top pension funds as a client, refinanced a national portfolio of commercial and residential property for $500 million. Wells Fargo led a syndicate of banks in providing the […]
Has #MeToo changed real estate?
(Illustration by Veronica Grech) The sexual misconduct allegations against Richard Meier offer a telling case study for the #MeToo movement. In many ways, the mixed messages the case sent is indicative of how the movement has unfolded in the New York City real estate industry over the last year and a half. On the one […]