MARKET NEWS
Start your timer: Leonard Ross has 4 months to sell Hearst mansion
The Real Deal Los Angeles
Real estate investor Leonard Ross has bought himself some time – four months, actually – to sell the grand William Randolph Hearst estate in Beverly Hills for possibly over $100 million after a favorable court ruling on Tuesday. Vincent Zurzolo, a federal bankruptcy judge in downtown Los Angeles, gave a limited liability company started by Ross (entitled TBH19) until May 31st to use the fabled 40,000-square-foot Hearst estate on Beverly Hills Drive as cash collateral ... The post Star ...
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AIDS Healthcare Foundation sells Hollywood property to hotel developer
Curbed LA - All : Love where you live
The offices on North La Brea, as seen from the north looking down at the La Brea and Hollywood intersection. | Google Maps The nonprofit has often squared off against developers The AIDS Healthcare Foundation, a local nonprofit that has often squared off against developers, has sold one of its Hollywood properties to a developer who plans to build a hotel on the site. The developer, Jayesh Kumar, is seeking a handful of city approvals to erect a nine-story hotel on the site off Hol ...
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The youth are fueling Sam Zell’s outdoor home rental business
The Real Deal Los Angeles
Younger generations are boosting the bottom line for Sam Zell’s #vanlife business. To date, baby boomers have been the core customer base for Equity Lifestyle Properties, Zell’s Chicago-based real estate investment trust for RV parks, mobile and manufactured multifamily homes. But that’s changing. “Over the past five years, there has been a steady increase in Gen X and Millennial campers,” Equity Lifestyle Properties president and CEO Marguerite Nader said Tuesday during the company’ ...
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Metro Networks founder Saperstein lists Malibu home for $115M
The Real Deal Los Angeles
Entrepreneur David Saperstein has put his eclectic Paradise Cove estate — one of Malibu’s largest — on the market for $115 million. Saperstein, a former car salesman, made his first fortune as founder of Metro Networks, which provides drive-time weather reports to radio stations. Since selling it to Westwood One, he’s gone into the tree-farming business with extensive holdings in Texas and Florida. His splashy listing is the latest in Malibu, where home sales have ... The post Met ...
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A guide to the subway formerly known as the Red Line
Curbed LA - All : Love where you live
The train travels between Union Station in Downtown LA and North Hollywood. | PG/Bauer-Griffin/GC Images Now called the B Line, it reaches some of the most iconic landmarks in Los Angeles, including the Broad The most-used train line in Los Angeles is no longer called the Red Line. As part of a line-naming shakeup, it’s become the B Line—though the route is still outlined in red on Metro system maps. Whatever its name, the 27-year-old train line is the backbone of Los Angeles ...
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Real estate tech company RealPage hit by $10.5M hack
The Real Deal Los Angeles
Texas-based property management software provider RealPage was the target of hackers who stole $10.5 million from the company’s accounts, according to local media. The hackers obtained the login information for one of the RealPage’s employees, which gave them access to its online financial accounts. The stolen funds were then laundered through a network of “mule” accounts across the country, and transferred to a Nigerian account in at least one case. “The investigation to date has ... ...
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