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Ideaya Biosciences to move HQ to revamped complex in South SF

A $164.5-million purchase by DivcoWest of a 140,000-square-foot former office building in South San Francisco last year has paid off with a major life sciences lease. South San Francisco-based Ideaya Biosciences is moving its headquarters across town to take up 44,000 square feet at the redeveloped labs at 5000 Shoreline Court, the San Francisco Business […]

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Recession coming, but real estate has reason for optimism: CBRE

A mild recession lies ahead, but real estate observers and players can take heart in long-term factors like an “economic revival” in 2024.  That’s according to CBRE’s chief global economist Richard Barkham, who said the sharp rise in interest rates would take the economy into a recession, but inflation is coming under control and rates […]

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Sterling Bay seeks $300M from Chicago teachers fund to kickstart Lincoln Yards

Sterling Bay has turned to the Chicago Teachers Pension Fund to help pick up the pace of Lincoln Yards at a crucial time for the megadevelopment, a deal that, if it comes together, could hurt the project’s initial investors. The $6 billion mixed-use project has moved sluggishly since being approved in 2019. Now, the developer […]

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House prices inch up, inventory and sales go down in Bay Area 

Home prices are up across the Bay Area as inventory plunges to its lowest level in decades and sales fall to 2008 levels, according to a new Compass report.  Three-month rolling median house price averages were up across all 11 counties, though still below peak pricing from last spring, according to the report. In San […]

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Fun-filled mansion sells in Southlake

How do you sell the most-expensive house in Southlake? Cut the price and go viral, at least that’s how Tracy Tutor and Breah Brown of Douglass Elliman did it. They sold a fun-filled Mediterranean-style mansion at 1469 Sunshine Lane for an undisclosed price that they say is “record-breaking.”  The house, which has indoor trampolines, a […]

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ZOM seeks buyers for West Loop apartment complex

A large West Loop apartment complex is hitting the market amid the neighborhood’s residential development boom. Florida-based developer ZOM Living hired CBRE’s John Jaeger and Justin Puppi to find buyers for Union West, a 15-story, 357-unit luxury high-rise at 939 West Washington Boulevard. Built in 2018 with a $92 million construction loan, the property is […]

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Pustilnikov prepares builder’s remedy barrage in Beverly Hills 

UPDATED: JUNE 6 at 2:15 P.M.: Eight months after one wave of builder’s remedy applications shocked Santa Monica and set off a slew of still-active projects, developer Leo Pustilnikov is preparing another wave of applications using the legal provision in Beverly Hills, Pustilnikov told The Real Deal.  Pustilnikov has already filed applications for around a […]

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Sobrato buys aging apartment complex in Santa Clara to keep rents low

The Sobrato Organization, a major developer in Silicon Valley, wants to help solve the affordable housing problem. The Mountain View-based firm has launched an initiative to combine its real estate, capital investments and charity arm to keep residents in their homes, the San Jose Mercury reported. Last month, its Sobrato Family Foundation paid $26.1 million […]

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Related backs out of Charlotte condo redevelopment

Related Group isn’t going down to South Park. The Miami-based developer announced that it will not redevelop the Trianon Condominiums at 3504 Colony Road in SouthPark, Charlotte, because of the bleak picture of the real estate market, according to the Charlotte Business Journal. The announcement came just a couple of months after the City Council […]

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