Sam Zell (Credit: Getty Images) The “jungle” entrepreneurs of real estate are a dying breed, according to billionaire Sam Zell. Zell, chairman of Chicago-based Equity International Group, said on Wednesday that the industry has gone from a “very jungle entrepreneurial environment” to an “institutionally driven” one over the past three decades. These days, fewer investors […]
WeWork acquires office management startup Managed by Q
Managed by Q CEO Dan Teran and The We Company CEO Adam Neumann (Credit: Getty Images and and Tech: NYC) WeWork has scooped up another startup on its quest for office-leasing dominance. The We Company subsidiary has acquired office management startup Managed By Q, a platform that office tenants can use to hire on-demand staff […]
Jho Low’s former superyacht sells, marking largest recovery of funds related to 1MDB scandal
Superyacht Equanimity and Jho Low (Credit: Wikipedia) The Malaysian government has sold a superyacht from the 1MDB scandal to the casino company Genting Malaysia Bhd. for $126 million. The sale is the largest amount of money Malaysia has yet recovered from 1MDB, according to Bloomberg. Genting must pay for the boat by the end of […]
Harbor Associates pays $48M for Encino business park
From left: Joon Choi, Justin Loiacono, and Paul Miszkowicz with 6345 Balboa Boulevard Investment firm Harbor Associates bought a 20-year-old office park in Encino, a property that could be primed for repositioning. The Long Beach-based company paid Moss Group $47.9 million for the 213,000-square-foot complex, records show. The deal pencils out to $224 per square […]
HBO closes big lease at Ivy Station in Culver City: sources
WarnerMedia Chairman Robert Greenblatt, and rendering of Ivy Station (Getty/KFA) HBO has closed on its lease for the entire office portion of the mixed-use Ivy Station complex in Culver City, The Real Deal has learned. The network will take 240,000 square feet at the $350 million under-construction project, according to sources familiar with the deal. […]
Cushman & Wakefield launches sports and entertainment advisory practice
Cushman & Wakefield’s Michael Sessa (left) and Craig Cassell with the Chase Center in San Francisco (Credit: Manica Architects) Cushman & Wakefield launched a sports and entertainment practice to help clients develop athletic and entertainment venues and the areas around them. Competitors CBRE and JLL already have similar divisions. The brokerage picked Chicago-based executive managing […]