As WeWork hustled to secure a rescue package, its former CEO was under intense pressure to shore up his own finances. Last week Adam Neumann paid a $150,000 deposit to secure a $100 million loan to refinance his interest in a Chelsea development site, people familiar with the matter told The Real Deal. The move came as lenders, chief among them JPMorgan, were pressuring him to repay hundreds of millions of dollars that he had
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Every day, The Real Deal rounds up New York’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to [email protected] This page was last updated at 3:05 p.m. Video produced by Sabrina He Facebook wants to tackle California’s housing crisis. The company says it will provide $1 billion to build 20,000 housing units in the Bay Area and Silicon Valley.
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Despite all the hype, investor interest in Opportunity Zone funds simply hasn’t materialized as fund managers had hoped. According to an analysis by Novogradac, a San Francisco-based accounting firm, 103 Opportunity Zone funds have raised just 15 percent of what fund managers expected. There are at least 285 Opportunity Zone funds in the United States, and many have not shared fundraising metrics, according to the firm, which advises investors on tax incentives. While Treasury Secretary
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Grant Cardone, the real estate investor, speaker, author and business consultant who has amassed more than 2.4 million Instagram followers, spoke about his investing philosophy backstage at The Real Deal’s sixth annual Miami Showcase & Forum.