Zillow CEO Rich Barton (Credit: iStock and JD Lasica via Flickr) Real estate stocks have performed well this week despite wider market volatility, fueled by an escalating trade war, which last week led the S&P 500 to its worst week of 2019. At the close of market on Friday, The Real Deal reviewed the stock […]
“The rich will get richer anyway”: HUD Secretary Ben Carson dismisses concerns that Opportunity Zones will only benefit rich people
Secretary of the Department of Housing and Urban Development Ben Carson (Credit: Getty Images and iStock) Ben Carson is well aware of the complaints directed at the federal Opportunity Zones, and how the tax incentive program meant to boost struggling communities may only end up benefiting rich investors and developers. On Friday, Carson, the Secretary […]
Calabasas takes issue with Kanye West’s affordable housing domes, new Korean American museum design revealed: Daily digest
Every day, The Real Deal rounds up Los Angeles’ biggest real estate news. We update this page at 9 a.m., 12:30 p.m., and 4 p.m. PT. Please send any tips or deals to tips@therealdeal.com This page was last updated at 9 a.m. PT Kanye West (Credit: Getty Images) Calabasas pushes back on Kanye West’s […]
Healthy investment: Optimus Properties buys medical office tower near $500M hospital expansion
Optimus Properties, LLC cofounders Kamyar Shabani and K. Joseph Shabani and the building Investment firm Optimus Properties bought a 10-story medical office tower in the San Fernando Valley, scooping up a property next door to a $500 million hospital expansion. Century City-based Optimus paid $22 million for the 85,000-square-foot property. Called Tarzana Tower, the building […]
Inside Stephen Ross’ massive empire of gyms, condos, coffee and more
Related CEO Stephen Ross (Credit: Getty Images, Wikipedia, Facebook, and Twitter) The backlash over hosting a Trump fundraiser has been swift for developer Stephen Ross. Within 24 hours of word getting out, Equinox members and SoulCycle devotees have threatened to boycott both brands, which are owned by Ross’ Related Companies. (In San Francisco, some staged […]
LA retail market in Q2 clawed back from an abysmal Q1, report shows
Petra Durnin, CBRE’s director of research for the Pacific southwest, and the Whole Foods grocery store that opened at the Vineyards at Porter Ranch (Credit: CBRE) For the Los Angeles retail market, the first quarter was a nightmare. Big box store closures accounted for an overall drop in rented space, which amounted to 323,000 square […]