Developer Carmel Partners, which has been in hot water over its potential involvement in the corruption case of Los Angeles City Council member Jose Huizar, has sold its majority stake in a 464-unit rental complex in Norwalk, Connecticut. Invictus Real Estate Partners, which owned 10 percent of The Waypointe at 515 West Avenue, bought Carmel’s 90 percent stake. The property is valued at $157 million. “We believe in Norwalk,” said Eric Scheffler, the managing partner
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A group representing 85,000 property owners who control 10 million apartments joined a lawsuit that seeks to stop the federal eviction ban. The National Apartment Association joined the suit, which is trying to invalidate the Centers for Disease Control and Prevention’s eviction ban. The action was filed Sept. 9 in the federal court in Georgia. It names the Secretary of Health and Human Services and the acting chief of staff of the CDC as defendants.
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With its eye on housing for remote workers, co-living startup Common has raised $50 million in new funding. The Series D was led by Kinnevik with participation from existing investors Maveron, 8VC and Norwest Venture Partners, CEO Brad Hargreaves wrote in a blog post Tuesday. The round brings Common’s total funding to more than $113 million at a time when urban rental markets are struggling due to the pandemic. Founded in New York in 2015,
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A group of South Florida property owners’ alleged ties to global money laundering are revealed in newly leaked bank documents. A family who owns a home worth more than $2 million in the Jockey Circle neighborhood in Davie and a man accused of buying an $850,000 Tudor cottage in Davie with drug money are among the property owners emerging from a trove of suspicious activity reports, according to the Miami Herald. The reports are documents
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Manhattan saw its first mid-market i-sale of September this past week, with a residential building on the Upper West Side changing hands for $17 million. Elsewhere in the city, a taxi medallion kingpin sold a large manufacturing building in Queens and a charter school picked up a new location in the Bronx, all within the $10 million to $30 million sector. The biggest investment sale in the middle market was in Brooklyn, for $24.3 million.
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