California Labor Secretary Julie A. Su and the Kenmore, a project that RDV failed to pay wages on (Credit: Google Maps) California officials have ordered a City of Industry contractor to pay nearly $12 million in back wages and penalties to more than 1,000 employees who were cheated out of pay. RDV Construction, a framing […]
Call it a “joint” venture: Simon Property Group partners with cannabis oil company
David Simon (left), Peter Horvath (right) and the Roosevelt Field Mall in Garden City (Credit: iStock, Google Maps, and Green Growth) America’s biggest mall owner is seeing green. Soon after posting a record fourth quarter, Simon Property Group announced on Monday that it would be partnering with cannabis firm Green Growth Brands to open 108 […]
China Oceanwide looks to sell NYC dev site amid broader financial concerns
80 South Street China Oceanwide Holdings is putting 80 South Street on the market. The Beijing-based company purchased the Financial District site about three years ago and is looking to sell it for roughly $300 million, according to Commercial Observer. Just five firms have been approached so far to bid on the property. The firm […]
Here’s one way to tell if a tower is in trouble
(Credit: Moody’s Investor Service, Trepp and Unsplash) Want to understand if a major property is at risk of defaulting on their loans? One way to tell is to look at the difference between private appraisals of the building and those done by ratings agencies. An analysis of large commercial mortgage-backed securities deals by The Real […]
Rat trap: L.A. City Hall infested with rodents
(Credit: Wikimedia Commons) With a FBI investigation consuming Los Angeles City Hall, reports of a different kind of “rat” might be expected. But instead, there is unrelated trouble caused by a real rodent invasion. The building has been overrun with rats, and crews may need to remove all the carpet due to fear of typhus, […]
Ventas investing $1.5B into university research facilities, starting with Arizona State
Debra Cafaro and the Campus of Arizona State University in Phoenix (Credit: iStock) Ventas will invest $1.5 billion in research and innovation facilities at colleges throughout the country, starting with a $77 million project at Arizona State University. The Chicago-based REIT is extending its partnership with college research facility developers Wexford Science & Technology with […]