Categories
The Real Deal Los Angeles

Here are the countries most at risk of a housing bubble

The pandemic slammed the brakes on housing markets worldwide…but only for a moment. Sales rebounded across the globe, and are now accelerating so fast that housing bubble concern is back. New Zealand, Canada and Sweden are most at risk, according to an analysis by Bloomberg. It crunched housing market data from the 38 member countries of the Organization for Economic Cooperation and Development. Bloomberg came up with a top 10 list. Many of the countries … [more]

The post Here are the countries most at risk of a housing bubble appeared first on The Real Deal Los Angeles.

Categories
The Real Deal Los Angeles

One of Robert Redford’s Utah ranches hits market

Robert Redford is selling the 30-acre Utah ranch he named after his film “The Horse Whisperer.” The actor and director bought the spread in 1996 as a winter grazing area for his horses, according to the Wall Street Journal. He directed and starred in the movie two years later. The property is now on the market for $4.9 million, according to the report. Horse Whisperer — the property — is in the town of Charleston, … [more]

The post One of Robert Redford’s Utah ranches hits market appeared first on The Real Deal Los Angeles.

Categories
The Real Deal Los Angeles

A closer look at Compass’ trail of litigation over its business tactics

Defrauding agents. Illegal telemarketing. Encouraging breach of contract. Stealing trade secrets from rival firms. These are just some of the allegations leveled against Compass so far this year. The brokerage, which went public in April, is involved in nearly a dozen active lawsuits dating as far back as 2014. In the majority of these cases, Compass finds itself playing defense. Plaintiffs include local rivals, former agents, concerned citizens and a housing watchdog group. Several cases, … [more]

The post A closer look at Compass’ trail of litigation over its business tactics appeared first on The Real Deal Los Angeles.

Categories
The Real Deal Los Angeles

These metro areas have the most — and fewest — million-dollar homes

Where are all the million dollar homes? Spoiler alert: Wherever more people can afford them. Few homeowners live in homes valued at a million dollars or more in the U.S., but in some cities, it’s more common than you think, according to a report from LendingTree. Only 4.3 percent of owner-occupied homes in the country’s 50 largest metropolitan areas are valued at $1 million or more, according to the report, which analyzed census data. Take … [more]

The post These metro areas have the most — and fewest — million-dollar homes appeared first on The Real Deal Los Angeles.

Categories
The Real Deal Los Angeles

Bezos-backed Arrived Homes is latest startup to expand real estate investment

A startup backed by Jeff Bezos and Salesforce CEO Marc Benioff is the latest venture working to extend real estate investing to the masses. Arrived Homes, a company that offers shares of rental properties starting at $100, raised $37 million in equity and debt from investors that include the Amazon founder’s private investment company Bezos Expeditions and Benioff’s Time Venture in a fundraising round led by Core Innovation Capital, Bloomberg reported. Arrived Homes isn’t the … [more]

The post Bezos-backed Arrived Homes is latest startup to expand real estate investment appeared first on The Real Deal Los Angeles.

Categories
The Real Deal Los Angeles

Orchard, HomeLight move toward IPOs with new execs

Two proptech firms that aim to help homebuyers compete in hot markets are steps closer to going public after naming new executives. New York-based Orchard tapped Patrick McClymont, former chief financial officer of IMAX and auction house Sotheby’s, as its CFO last month, the Wall Street Journal reported. And HomeLight, a Bay Area startup, appointed to its board Sean Aggarwal, chairman of Lyft and former CFO of Trulia, according to Bloomberg News. Both companies try … [more]

The post Orchard, HomeLight move toward IPOs with new execs appeared first on The Real Deal Los Angeles.

Categories
The Real Deal Los Angeles

Oceanwide’s US business is sinking. Can it right the ship?

In 2014, Oceanwide Holdings announced plans to build a 2.4 million-square-foot megaproject in San Francisco. The twin-tower development would be the Chinese conglomerate’s first big push into North America, at a time when Chinese firms were spending billions on massive projects and on acquiring high-end properties from California to New York. Seven years later, the stalled project — dubbed Oceanwide Center — has come to represent something else: a $1.6 billion burden. Another is a … [more]

The post Oceanwide’s US business is sinking. Can it right the ship? appeared first on The Real Deal Los Angeles.

Categories
The Real Deal Los Angeles

Novak Djokovic sells Miami Beach condo for modest profit

The world’s top-ranked tennis player scored a small win with the sale of his Miami Beach condo. Novak Djokovic sold his unit at Eighty Seven Park in North Beach for $6 million, slightly more than the $5.8 million he paid for the condo in 2019. Djokovic — who could complete a “Golden Slam” this year if he wins the remaining two major tournaments and the Olympics — bought the three-bedroom, three-and-a-half-bathroom unit 901 from the … [more]

The post Novak Djokovic sells Miami Beach condo for modest profit appeared first on The Real Deal Los Angeles.

Categories
The Real Deal Los Angeles

Here’s what tenants pay at the Crescent mixed-use tower in Dallas

The following is a preview of one of the hundreds of data sets that will be available on TRD Pro, the one-stop real estate terminal that provides you with all the data and market information you need. Crescent Real Estate took its name from one of the Texas-based firm’s earliest acquisitions — a mixed-use office complex in Dallas named the Crescent. The company has managed the 1.3 million-square-foot property in Uptown for decades, but ownership … [more]

The post Here’s what tenants pay at the Crescent mixed-use tower in Dallas appeared first on The Real Deal Los Angeles.

Categories
The Real Deal Los Angeles

Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties

So long, Bay Area: Adam Neumann is headed to South Florida. The WeWork co-founder and ex-CEO inked an off-market deal for two properties on the Bal Harbour Marina, just north of Miami Beach, for $44 million, the Wall Street Journal reported. The purchase comes roughly two months after Neumann sold his northern California estate for $22.4 million. Local investor Joseph Imbesi is the seller behind the off-market deal, which includes two parcels spanning 50,000 square … [more]

The post Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties appeared first on The Real Deal Los Angeles.