Category: Community News

Khalif Edwards Joins Starwood Capital Group’s Global Capital Raising and Investor Relations Group

In a recent press release, Global investment firm Starwood Capital Group announced that respected industry veteran Khalif Edwards has joined the firm as a Managing Director in its Global Capital Raising and Investor Relations Group. Starwood Capital Group is a private investment firm with a core focus on global real estate. According to the company’s…
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Pandemic, Protest, and Perseverance: Black-Owned Bookstore Closes Year By Opening Up Second Location

When mandatory stay-at-home orders were issued last March, thousands of local businesses were left scrambling. For most ‘brick and mortar’ retailers, the ability to adapt meant the difference between business survival and permanent closure. For Malik Books, the pandemic not only cut short what had been a triumphant homecoming but threatened to close one of…
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Digital ‘Redlining’: Fair Housing Lawsuit Filed Against Redfin

Real estate technology firm Redfin has been named in a lawsuit alleging that the company uses its online platform to engage in modern-day “redlining” and discriminatory pricing practices. In the legal action filed last week with the US District Court in Seattle, the National Fair Housing Alliance (NFHA) states that Redfin’s policies perpetuate “the stark…
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Merger Makes Historic Los Angeles Bank The Largest Black-led Lender In The Country

Last week, Los Angeles-based Broadway Federal Bank and Washington D.C.’s City First Bank formally announced their plans to merge the two banks.  Under the new structure, when the two banks combine in January 2021, the bank will become the country’s first Black-controlled bank with over $1 billion in assets. According to the New York Times, the…
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Trio of Black Commercial Real Estate Professionals Step Into New Leadership Roles

In recent weeks, three high-profile power moves have positioned Black men in key leadership roles across the Los Angeles commercial real estate market. Samuel Hughes was named as President and CEO for the Economic Resources Corporation (ERC). Created by community and business leaders in response to the 1965 Watts Uprising, ERC works to address economic…
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City Planning Department Names First Chief Equity Officer

Last week, the Los Angeles City Planning Department appointed Faisal Roble to become its first Chief Equity Officer.  Roble, who brings more than 30 years of planning experience to the new role, will lead racial justice efforts within the department, by helping to address implicit bias in the city’s planning policies and outreach.  Having worked…
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Los Angeles County votes to extend eviction moratorium through September 30

The Los Angeles County Board of Supervisors voted to keep the moratorium on residential and commercial evictions in place until at least September 30, 2020. The vote marked the third time that county officials have extended the moratorium since the pandemic began in late-March.  Last week’s decision comes as the number of coronavirus cases across…
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SoLa Impact CEO tells other fund managers “This is an opportunity to step up”

Recognizing that the coronavirus crisis was having a disproportionate impact on already distressed communities, Martin Muoto, the founder and CEO of SoLa Impact began to reach out to peers across the industry.  According to recent article written by Joseph Pimentel for Bisnow, his goal was simple and straight forward – pull together other opportunity zone…
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Three propositions on November ballot may reshape California real estate forever

Voters will have an opportunity to significantly reshape California’s real estate industry, as three potentially game changing ballot measures will be on the ballot this November. The first measure, Proposition 15, would revise the property tax rules that were adopted under 1978’s controversial Proposition 13. Under Prop 13, property taxes are only updated in the…
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Los Angeles City Council Approves $100M Rent Relief Package

On Tuesday, the Los Angeles City Council approved a $100 million rent relief package aimed at helping residents and landlords impacted by the pandemic. The aid represents the largest rent assistance program…