Real Estate

  • Real Estate

    Real Estate Billionaire Sam Zell Says Office Space Will Rebound Faster Than Retail

    Topline Real estate billionaire Sam Zell predicted Tuesday that office space will recover much more quickly than retail properties from their current pandemic levels, as workers return to the office once Covid-19 becomes “less of a risk”— though he noted hybrid arrangements are likely to stay. Founder and chairman of Equity International and billionaire businessman Sam Zell visits “Maria … [+] Bartiromo’s Wall Street” at Fox Business Network Studios on July 17, 2019 in New York City. (Photo by Steven Ferdman/Getty Images) Getty Images Key Facts Zell, founder and chairman of private investment group Equity Group Investments, said in an  

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  • Real Estate

    How Adam Neumann’s Property Cuts His Taxes

    Former WeWork CEO Adam Neumann (Getty Images, iStock, Yard 8 Miami, Stacks on Main, Trulia, Power Design Inc., Inkwell Decatur, Wikipedia, Illustration by Kevin Cifuentes for The Real Deal) When Adam Neumann was ousted from WeWork, he reportedly received nearly $200 million, plus company stock worth hundreds of millions more. But with great purses comes great liability — tax liability, that is. Reducing it was surely a priority for the exiled co-founder, and the real estate he bought with his windfall figures to do just that. Neumann’s purchase of a majority stake in a $1 billion-plus luxury rental portfolio can  

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  • Real Estate

    Companies are spending millions on virtual real estate in the Metaverse

    While most of us still can’t afford to buy a house in the real world, investors are pouring millions of dollars into buying up virtual land in fake ones. CNBC reports that since Facebook made the move towards becoming Meta, prices of digital plots have gone up by as much as 500%. One company reported spending over $2.5 million USD on land in Decentraland, a metaverse based around crypto complete with its own currency where every piece of content in the game is owned, completely autonomously, by the players. Another firm revealed spending $4.3 million buying a plot of land  

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  • Real Estate

    WATCH NOW: Viral videos show Henrico real-estate agent rescuing toddler found wandering dark street | Richmond Local News

    Renée Thompson-Truehart recounts how she saved a toddler who had wandered into the street in Highland Springs the night after last week’s snowstorm. Renée Thompson Truehart often posts pictures, videos and memes on TikTok, Facebook and Instagram — sharing everything from footage of family members having fun around the house to more serious commentary on cultural issues. So when she came across a toddler wandering in the middle of a dark street in Highland Springs in freezing temperatures, she started recording video from her phone even before she stopped her  

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  • Real Estate

    Medical office building in Los Gatos draws big-time buyer

    LOS GATOS — A Los Gatos medical office building that’s home to a Sutter Health operation has been bought by an alliance of two real estate groups with a nationwide reach. The buyer is an affiliate that’s linked to an alliance of The Carlyle Group, a private equity firm; and Anchor Health Properties, a real estate developer and investment firm that specializes in health care properties. The affiliate of Washington, D.C.-based Carlyle and Virginia-based Anchor Health paid $53.1 million for the office building, documents filed with the Santa Clara County Recorder’s Office on Jan. 7 show. The medical office building  

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  • Real Estate

    China’s property problems spread to once-healthy developers like Shimao

    InterContinental Shanghai Wonderland, a luxury hotel developed by Shimao and managed by IHG, opened in 2018 and is pictured here on Oct. 11, 2020. Costfoto | Future Publishing | Getty Images BEIJING — One of China’s healthiest real estate developers has reportedly defaulted, a sign of how more pain is ahead for the heavily indebted industry. Shimao Group shares briefly plunged more than 17% Friday after Reuters reported the property developer failed to make full repayment on a trust loan. A subsidiary of the company subsequently said in a filing it was in talks to resolve the payment. Shares closed  

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  • Real Estate

    Inside Jeff Bezos’s Massive Real Estate Portfolio

    The Amazon founder splurged on a trio of Manhattan apartments overlooking Madison Square Park in early 2019, paying a total of $80 million. The Wall Street Journal reported at the time that Bezos’s over-the-top purchase could be one of the most expensive real estate transactions in New York City for the year. (Ultimately, however, a $240 million Manhattan penthouse beat out Bezos’s jaw-dropping purchase.) The acquisition included a three-floor, 10,000-square-foot penthouse with a grand ballroom, a three-bedroom unit below that with high-end finishes, and an adjoining four-bedroom pad with oversized windows on three of its four sides. 2020 The Blue  

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