MARKET NEWS
In the rough: Trump’s golf clubs and resorts have lost $315M
The Real Deal Los Angeles
President Trump’s golf club and resort properties have long been in the financial rough. Since 2000, Trump has reported combined losses of more than $315 million at his golf courses in the U.S. and in Europe, with nearly half from his largest golf property, Trump National Doral Miami, according to a New York Times investigation into the president’s tax returns. From 2012 — when then-real estate mogul Trump bought the Doral for $150 million — ... The post In the rough: Trump’s go ...
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Biden vs. Trump: What’s at stake for real estate?
The Real Deal Los Angeles
Biden’s $775B ‘caring economy’ plan would kill 1031 exchanges Joe Biden went after one of the real estate industry’s favorite tax benefits last month. The presumptive Democratic presidential nominee proposed his “caring economy” plan to  fund a child- and elderly-care spending platform, in part by closing a loophole used by many commercial property investors. Biden proposed eliminating 1031 “like-kind” exchanges for investors with annual incomes greater than $400,000 as part of ...
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Trump took nearly $100M out of Vornado partnership in 2013
The Real Deal Los Angeles
Donald Trump pulled out nearly $100 million in 2013 from the office properties he owns with Vornado Realty Trust, which are among the few investments generating money for him. Trump withdrew $95.8 million seven years ago from the partnership he has with the real estate investment trust owning 1290 Sixth Avenue in Manhattan and 555 California Street in San Francisco, according to an investigation by the New York Times. The move came during a period ... The post Trump took nearly $100M out ...
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Troubled commercial properties see values fall 27%: report
The Real Deal Los Angeles
Commercial properties such as hotels and malls may have lost as much as a quarter of their value as the pandemic devastated the retail and hospitality businesses, along with other sectors. The value of the collateral for commercial mortgage-backed securities has been written down by 27 percent on average when properties get into trouble, the Financial Times reported, citing data from Wells Fargo. New appraisals are done when commercial real estate property owners fall behind ... The post ...
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$99M is not enough: Pierce Brosnan lists Malibu manse at massive price
The Real Deal Los Angeles
Pierce Brosnan is hoping to pull off a feat more stunning than anything he did playing James Bond: Sell a 12,500-square-foot home for $100 million, or $8,000 per square foot. The home at 3116 Broad Beach Road in Malibu hit the market at $100 million. Compass’ Malibu specialist, Chris Cortazzo, has the listing. The five-bedroom, 14-bathroom house includes ocean views, a saltwater pool, movie theater, gym, and wine cellar. It sits on an acre of ... The post $99M is not enough: Pierce Bros ...
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Armie Hammer seeks $5.8 million for stately Hancock Park Tudor
Hot Property
Actor Armie Hammer is asking $5.8 million for his 1920s Tudor-style home in Hancock Park.
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