MARKET NEWS
Hundreds of California landlords down with PPP
The Real Deal Los Angeles
Two California residential landlords got between $5 million and $10 million in loans under the Paycheck Protection Program, the maximum loan range allowed in the federal payroll relief measure for small businesses. One was Tenderloin Neighborhood Development Corporation, a San Francisco nonprofit that builds housing with support services for homeless residents. The other? Newport Beach-based Olen Properties Corp. run by Igor Olenicoff, a man who possesses a net worth of $3.9 billion, according t ...
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Retailers boost rent payments but Covid surge prompts caution
The Real Deal Los Angeles
The proportion of rent Burger King paid in June compared to May was a whopper. The fast-food chain forked over 100 percent of what it owed landlords last month, compared to 63 percent the month before. The same went for Dave & Buster’s, where the new motto could be “Eat, Drink, Play…and Pay!” as landlords for the chain also collected all of June rent compared to 67 percent in May. As states have reopened for ... The post Retailers boost rent payments but Covid surge prompt ...
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Spyglass Media chief Gary Barber lists Westside penthouse for $6.5 million
Hot Property
Former Metro-Goldwyn-Mayer Studios head Gary Barber, now CEO of Spyglass Media, is asking $6.495 million for his penthouse at the Remington in Westwood.
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Racist comment posted using name of real estate executive
The Real Deal Los Angeles
A webinar last month was marred when someone used the name of a real estate executive to post a racist comment about one of the event’s speakers. CBRE broker Charlie Stephens was conducting his weekly “Leaders Live Show” with guest David Moreno Jr., a Black attorney and co-founder of branding agency Mediabundance, when 18 minutes into the chat a listener wrote: “Yo moreno want chicken wings for dinner ??” In that moment, the two were ... The post Racist comment posted using name ...
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Ex-councilman pleads guilty to accepting cash, escort for access to LA developers
The Real Deal Los Angeles
For disgraced former Los Angeles City Councilmember Mitch Englander, what happened in Vegas definitely did not stay in Vegas. Englander pleaded guilty Tuesday in federal court to trying to cover up cash bribes and other gifts he received from a local businessman who was trying to connect with L.A.-area real estate developers, according to the Los Angeles Times. The plea, to a count of scheming to falsify material facts, was part of a wider FBI ... The post Ex-councilman pleads guilty to a ...
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MedMen's Andrew Modlin lists Bird Streets joint for $12 million
Hot Property
Cannabis entrepreneur Andrew Modlin, who co-founded MedMen, has put his home in the Hollywood Hills on the market for $11.95 million.
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