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May 18, 2023

Sam Zell Dies At 81

Learn What General Contractors Are Saying About The Labor And Supply Shortages At Construction & Development May 25

Sam Zell, the legendary investor who pioneered the modern real estate investment trust and has been a leading voice in commercial real estate for decades, has died. He was 81. 

Sam Zell Dies At 81

The multifamily REIT he founded, Equity Residential, announced Zell's death in a press release Thursday. The company said Zell died at home due to complications from a recent illness.Equity's board has appointed David J. Neithercut, its former CEO and a board member since 2006, to replace…

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Domestic Violence Allegations Emerge As Patrick Carroll Pushes To Sell His Apartment Empire

Domestic Violence Allegations Emerge As Patrick Carroll Pushes To Sell His Apartment Empire  

Carroll CEO M. Patrick Carroll has deeper legal issues — and more run-ins with law enforcement and the judicial system — than previously reported, according to a news investigation published over the weekend.

The Daily Beast published a report late Friday that revealed Carroll had been ordered to stay away from his ex-wife after being accused of domestic violence and stalking, posted homophobic and graphic content to social media, and was arrested for driving while intoxicated.

These court records were also obtained and corroborated by Bisnow.

The investigation was published a month after Carroll was caught on video appearing to spit in the face of a restaurant employee in Miami, as The Real Deal reported. The revelations come at a precarious time for Carroll: The developer has been attempting to sell all…

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Klein & Hoffman To Restore A Historic House That Beer Built

PRESENTED BY:   Klein & Hoffman
 
Klein & Hoffman To Restore A Historic House That Beer Built  

When Capt. Frederick and Maria Pabst paid $254K for their new Milwaukee home, the then-princely sum purchased everything a beer baron and his family could want in 1892: a 20K SF Flemish Renaissance Revival-style mansion, fine Gilded Age furnishings and museum-quality art.  What it didn’t buy was immortality, with Frederick,…

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Mathrani's 'Total Shock' Departure From WeWork Drives Investor Confidence To New Low

Mathrani's 'Total Shock' Departure From WeWork Drives Investor Confidence To New Low  

Sandeep Mathrani was less than two hours removed from meeting with investors and analysts on Tuesday when WeWork issued a press release announcing he was leaving his post as the coworking giant’s CEO in 10 days.

"I was blown away. It was a total shock," Piper Sandler Managing Director Alexander Goldfarb told Bisnow of seeing the announcement an hour and a half after their meeting ended. "There was no telegraphing at all."

Other investors were also taken aback — WeWork’s stock dropped by nearly 25% on Wednesday to 26 cents per share, an all-time low for a company scrambling to avoid being delisted from the NYSE.

In Goldfarb’s note to investors Tuesday night, which he said he had to quickly rewrite after the announcement, he wrote that the resignation so soon after an investor roadshow was “certainly a first” in his two decades on Wall Street. But, the note added, “We believe in the vision and strategy…

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