MARKET NEWS
Sweet Jesus: Nick Candy asks $241M for London penthouse
The Real Deal Los Angeles
London housing prices are expected to steadily rise in the coming years after having fallen during the pandemic. But developer Nick Candy isn’t waiting around to sell his massive penthouse at a sky-high price. Candy is asking 175 million pounds — or roughly $241 million — for his 18,000-square-foot unit in London’s ultra-luxury One Hyde Park complex in Knightsbridge, according to Bloomberg. Candy confirmed he was hunting for a buyer, citing a “huge surge” in ... The post Sweet ...
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Berlin’s rent law was historic. Now it’s history
The Real Deal Los Angeles
A German court struck down a transformative Berlin rent law that not only capped rents citywide, but in some cases lowered them. The court voided the law Thursday, saying the federal government had already passed rent legislation within the jurisdiction, according to the Wall Street Journal. Berlin passed its law in February 2020, and shortly after it was challenged in court by around 284 legislators, including members of Chancellor Angela Merkel’s Christian Democratic Union. The ... Th ...
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Mister Rogers’ home in the Pittsburgh neighborhood lists
The Real Deal Los Angeles
A home in what had been Mister Rogers’ neighborhood hit the market for $850,000. The 3,700-square-foot brick house in Pittsburgh where the children’s TV show star Fred Rogers and his wife Joanne once lived. The New York Post first reported on the listing. The property at 5381 Northumberland Street is located just outside the Carnegie Mellon University campus; the couple lived there from the late 1950s until 1966. During that time, Fred Rogers worked as ... The post Mister Rogers’ ho ...
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Bally’s buys Las Vegas’ Tropicana casino for $150M
The Real Deal Los Angeles
Bally’s is making a bet on the Tropicana Hotel & Casino in Las Vegas. Bally’s agreed to buy the operations business for the hotel and casino, while the REIT Gaming & Leisure would retain its ownership of the property itself and continue to collect rent, Bloomberg News reported. Bally’s has been on an acquisition streak lately, having recently struck a $2.7 billion deal to buy online gaming company Gamesys Group Plc. But this would be ... The post Bally’s buys Las Vegas’ ...
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Macerich unloads Phoenix mall for $100M; redevelopment awaits
The Real Deal Los Angeles
Macerich Company has sold a Phoenix mall for $100 million, as the mall REIT continues to battle back from a withering year of losses. The buyer is a joint venture affiliated with Red Development, according to the Los Angeles Business Journal. Santa Monica-based Macerich retained a 5 percent interest in the JV, which plans to redevelop the Paradise Valley Mall, on property that encompasses 92 acres, into a mixed-use complex. The redevelopment plan includes adding ... The post Macerich unlo ...
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Brookfield’s US malls are struggling. Now it’s buying some in Europe
The Real Deal Los Angeles
The pandemic has pummeled malls across the U.S., including many controlled by Brookfield Asset Management. But Brookfield still sees in a future in the properties, at least across the Atlantic Ocean. The firm has agreed to buy a portfolio of seven shopping centers from struggling U.K. mall giant Hammerson. Bloomberg reported the news, citing the British paper, the Sunday Times. Brookfield will pay the equivalent of $479 million for the seven properties. Hammerson owns malls ... The post B ...
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