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October 21, 2019

Former Pimco Head Pleads Guilty, CRE Developer Sentenced In Admissions Scam
Join Unibail-Rodamco-Westfield, LaTerra Development and Overton Moore Properties at Wednesday's State Of The Valley & Tri-Cities event
Former Pimco Head Pleads Guilty, CRE Developer Sentenced In Admissions Scam  

A few days after an Orange County commercial real estate developer was sentenced to prison, another high-profile resident has pleaded guilty for his role in the infamous college admissions scandal. 

The ex-CEO of Newport Beach global investment management firm Pimco, Douglas Hodge, a 61-year-old Laguna Beach resident, pleaded guilty to paying $525K to a charity run by William “Rick” Singer as a bribe to facilitate his daughter and son’s admission to the University of Southern California as athletic recruits, according to the U.S. Department of Justice in Massachusetts.

Hodge entered the plea in federal court Monday in Boston. U.S. District Court Judge Nathaniel M. Gorton scheduled Hodge's sentencing for Jan. 22. Hodge faces a maximum sentence of 20 years. However, many of those who have pleaded guilty in the college admissions scandal, including…

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Builders, Designers Eye Ways To Make Thousands Of Californians Landlords
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One by one, people came in waves to Crate Modular’s open house in Carson, California, to check out the modular company’s newest offerings.

With brochures and model displays on tabletops, rendering videos on televisions and a full-sized unit on the factory floor, the 160 SF and 320 SF detached units made out of recycled shipping containers had all the basics one needs in a tiny home: lighting, windows, a small kitchen with two electric burners, air conditioning and a bathroom with a toilet, bathtub and shower.

Designed by Lahmon Architects, the launch of Crate’s prefab accessory dwelling units, or ADUs, comes a couple of weeks after Gov. Gavin Newsom signed several new laws that ease certain requirements for homeowners to build…

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The Looming Dec. 31 Opportunity Zone Deadline: What It Means For Investors

On Dec. 31, when the rest of the world is getting ready to usher in the new decade, opportunity zone investors will face an important deadline: the last day on which they can make an investment in a qualified opportunity fund and get the full benefit of the new program.

Created as a vehicle in which investment flows to opportunity zones to reap the highest possible tax benefit on deferred capital gains and spur growth, the program has set timelines.

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