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  • Real estate industry’s transfer tax win faces second court appeal February 27, 2024
    Chicago real estate players may want to hold off on any further celebration of a judge’s ruling against Mayor Brandon Johnson’s transfer tax hike. After a Cook County judge decided last week that votes shouldn’t count for the so-called Bring Chicago Home referendum on the March 19 election ballot — which would increase the city’s […]
  • Ethics accusations fly in Cook County Board of Review race February 27, 2024
    In the run-up to the March Democratic primary, ethics concerns have emerged in the race for Cook County Board of Review commissioner, with challenger Larecia Tucker leveling accusations against incumbent Larry Rogers Jr. Tucker has raised concerns about Rogers’ past employment of his half-brother, Frederic Everly, and his subsequent facilitation of property tax breaks for […]
  • Shackelford County ranch lists for $39M February 27, 2024
    Another luxury ranch is up for grabs in Texas. The 9,400-acre Crooked Tree Ranch in Shackelford County, about 125 miles west of Fort Worth, has hit the market with a price tag over $39 million, the Dallas Morning News reported. The asking price is about $4,164 per acre. Layne Walker of Montana-based Hall and Hall […]
  • Compass posts $83 million quarterly loss, $320 million for year February 27, 2024
    Compass posted a net loss of $320 million in 2023, including a loss of $83.8 million in the fourth quarter. That’s about half of its net loss of $158 million in the fourth quarter of 2022, a year in which it lost more than $600 million. Net loss figures include non-cash expenses such as stock […]
  • New American Funding owners buy Santa Ana offices for $31M February 27, 2024
    The owners of New American Funding bought a 208,300-square-foot office tower in Santa Ana for $31 million — or $23 million less than what it traded for five years ago. An unidentified LLC headed by New American’s co-founder, Rick Arvielo bought the nine-story building at 1 MacArthur Place, the Orange County Business Journal reported. The […]
  • Developer allegedly defaults on planned 200-home Calabasas project site February 27, 2024
    Solar farm developer Clinton Brown has allegedly defaulted on a loan at a Calabasas site where he wants to build a 200-home subdivision, The Real Deal has learned.  The property, at 27250 Agoura Road, is currently on the market for $29 million, according to a listing on Zillow and other websites. The vacant lot covers […]
  • Macy’s to shutter longtime store in San Francisco’s Union Square February 27, 2024
    First Nordstrom abandoned San Francisco, and now Macy’s is preparing to ship its parade of clothes, perfumes and home furnishings out of town. The New York-based retailer plans to shutter its 400,000-square-foot flagship department store at 170 O’Farrell Street in Union Square, bringing to an end a 71-year run in the heart of the city, […]
  • Realty1 moves forward with 200k sf retail center near Katy February 27, 2024
    A growing suburban area of Houston is getting a major retail, apartment and office development.  Realty1 Partners, a Fulshear-based retail developer, filed plans to build Elyson Town Center in Elyson, a master-planned community between Cypress and Katy. The project will consist of ground-floor shops, with apartments and workplaces occupying the second floor. In all, it […]
  • Blackstone’s Jonathan Pollack to join Starwood Capital as president February 27, 2024
    Blackstone’s Jonathan Pollack is jumping ship to Starwood Capital Group, but his start date isn’t until next year. Pollack, who is currently the global head of New York-based Blackstone’s real estate credit business, was tapped to take over as president of Miami Beach-based Starwood starting in 2025, according to a press release. He will take […]
  • EQT Exeter pays $15M for Doral warehouse and office building February 27, 2024
    EQT Exeter paid $14.5 million for a warehouse and office building in Doral. An affiliate of the Radnor, Pennsylvania-based real estate investment trust acquired the 45,970-square-foot mixed-use building at 3605 Northwest 115th Avenue, records show. Sitting on a 2.1-acre site, the building was completed in 2004. The seller, an entity managed by Harry Aizenberg in […]