Talks aimed at ending the strike by the actors’ union broke up less than two weeks ago, with the two sides saying they remained far apart.

A family ranch recently sold for a Denver metro high for the year.

Tim Smith bought the Bear Mountain Ranch at 1334 S. Grapevine Road from Denver business leaders John and Debi Medved for $14.7 million, according to the Denver Business Journal. The property, located in unincorporated Jefferson County, spent around three years on the market. 

The Medveds raised their six children on the estate, which was built on the grounds of the former Arapahoe East Ski Area, which operated during the 1970s and ’80s. 

The Medveds had been trying to sell the property even before they sold their car dealerships in 2021, listing it in 2020 for $37 million.

Ronda Courtney, of Denver Re/Max franchise Leaders, took over the property listing after it had languished on the market for two years. She subdivided the property into different parcels to attract a broader pool of potential buyers and enlisted the help of additional brokers, including Brittany Morgan of Compass’ Northrop Group and Rod Canterbury from Re/Max.

The buyer was represented by Lori Gajarsky from Location Real Estate.

The sale included the 17,000-square-foot mansion, an equestrian barn, a guest house, an indoor riding area, a shop, over 163 acres of land, and a sizable cattle herd. The property’s amenities include a sauna, fitness room, pool, and shooting range, making it an attractive prospect for potential buyers.

Additional land adjacent to the property, totaling over 150 acres, is still available for purchase in the form of different lots.

The sale stands as the largest recorded transaction in the Denver metro MLS over the past two years, excluding off-market deals. 

But the record might not stand for too long.

A private-equity executive and a high-profile figure in Colorado’s business landscape has put up his Cherry Hills, Colorado, mansion for sale.

Charlie Gallagher has listed his luxe 23,000-square-foot residence, located adjacent to the 10th green at Cherry Hills Country Club, for $18.5 million, the Denver Post reported.

The mansion, nestled on Cherry Hills Drive in the wealthiest suburb in Denver, was designed by Chicago architect Gregory Maine.

Constructed in 1993, the eight-bedroom, 14-bathroom home is adorned with intricate brick and stonework, the mansion is accessed via a cobblestone circular drive, adding to its elegance.

Inside, the mansion has an array of  interior features and amenities, painted ceilings, plastered walls, eight fireplaces, a two-story dining room, 18 sets of French doors and an elevator to go along with multiple staircases.

— Ted Glanzer

The post Denver’s Bear Mountain Ranch sells for $15M appeared first on The Real Deal.

Although the desire for homeownership is strong within the LGBTQ+ community, the numbers among the group remain notably lower than their heterosexual and cisgender counterparts for several reasons. 

Affordability is a pressing issue, with many LGBTQ+ renters citing financial constraints as a barrier to homeownership, the Philadelphia Inquirer reported.

A Redfin survey indicated that more than half of LGBTQ+ renters expressed concerns about affordability, with many working multiple jobs or requiring financial support from family, a situation less prevalent among non-LGBTQ+ renters. 

Moreover, student loan debt has been identified as another obstacle. 

Discrimination also continues to be a prevalent issue in the housing market, with one in five LGBTQ+ buyers and renters reporting experiences of discrimination based on their sexual orientation during the home search process. 

Furthermore, a considerable percentage of LGBTQ+ individuals indicated a preference for residing in areas with protective laws for gender and sexual orientation, highlighting the need for inclusive housing policies.

Nicole LaGreca, a real estate agent, said she often encounters subtle discrimination due to her queer, masculine presenting, and genderqueer identity. During a property viewing in Port Richmond, where her client, seemingly uncomfortable, abruptly fled into a tornado warning, she said.

Real estate professionals emphasize the urgency for industry stakeholders to confront their biases and actively work toward creating an equitable and welcoming environment for all individuals. 

They encourage reporting discriminatory incidents to relevant authorities, including regional Realtor associations and civil rights commissions, to address these systemic issues and ensure a fair housing market for all.

It’s a challenge, reflected in laws being passed nationwide that make the environment less than welcoming in some states.

Texas’ anti-LGBTQ+ laws are causing an outflow of members of that community.

Dallas real estate agent Bob McCranie of the Texas Pride Realty Group is committed to helping fellow members of the LGBTQ+ community find homes, even if it means leaving Texas to feel safer.

In light of nine bills signed by Gov. Greg Abbott following the Texas legislative session that ended last month, McCranie launched “Flee Red States,” a program that connects clients with agents in other states or countries, CandysDirt.com reported. 

“We have numerous examples of Texas residents fleeing the state for more inclusive communities,” LGBTQ+ Real Estate Alliance Ryan Weyandt CEO said.

The LGBTQ+ Real Estate Alliance signed a memorandum of understanding with the Greater Houston LGBT Chamber of Commerce this week in an effort to organize and show the community’s economic power, RisMedia reported.

McCranie started his firm in 2009 after he and his partner were treated unfairly when purchasing a home. He found a niche cultivating a safe space for home buyers and sellers.

“If you go to a restaurant and you have crappy service and the food makes you sick, you’re never going to spend money in that restaurant again,” he said. “If you live in a state that takes away your civil rights and still charges you the same taxes, why would you go back to that state? If they’re threatening to criminalize you and your community, why would you go back?”

Local municipalities, like Dallas, Austin and Houston, have local protections for LGBTQ+ people for housing, employment, and healthcare. But Republican lawmakers have an agenda to override local control and end such protections. For people who once felt safe in cities like Austin, or neighborhoods like Dallas’ Oak Lawn or Houston’s Montrose, “those bubbles are going to get pre-empted,” McCranie said. 

He’s already helped 27 families since launching the “Flee Red States” program on June 1, he said. Hundreds of Texans have reached out to him, expressing their desire to sell their homes and relocate to an “inclusive” area.

— Ted Glanzer

The post LGBTQ+ community struggles with homeownership appeared first on The Real Deal.

A titan of alternative investments whose firm is a key commercial real estate player put his sprawling estate in Franklin, Tennessee, on the market as the most expensive home currently on the market in the Volunteer State.

Twin Rivers Farm at 5845 Old Highway has been listed for $65 million, according to the Nashville Business Journal.

The estate is owned by Larry Keele, who co-founded Oaktree Capital, which he now serves as an advisory partner since his retirement in 2015. It holds a 10,600-square-foot house built in 2018. The home, designed by architect Steve Giannetti, has five bedrooms, nine bathrooms, six fireplaces, a six-car garage, tennis courts, and a glass-enclosed pool with a retractable roof. 

The property spans nearly 384 acres and boasts two private lakes, a 188-tree orchard, and views of the surrounding countryside. The property also includes a separate guest house and an animal barn.

Dan McEwen of the McEwen Group has the listing. Keele is an alumnus of Tennessee Technological University.

If the estate fetches its $65 million asking price, it would mark one of the largest residential real estate transactions in the history of middle Tennessee. The priciest residential sale in 2022 was a property in Nashville sold for $18 million, according to the Business Journal.

Nashville has attracted a few big real estate deals recently, including for a large commercial housing asset.

Earlier this month, TA Realty paid $99.34 million for the 322-unit Novel Harpeth Heights apartments at 615 Old Hickory Boulevard, the Nashville Business Journal reported. That’s about $308,500 per unit.

The seller was Charlotte-based Crescent Communities, which bought the 22-acre site for $3.2 million in 2021 before developing the complex in partnership with Pearl Street Partners. Novel Harpeth Heights was completed last week. Floor plans include one-, two- and three-bedroom units, and there is 28,000 square feet of amenity space.

TA Realty’s latest acquisition further establishes its presence in the Greater Nashville area. The firm set a record for priciest multifamily purchase in Franklin in April 2022, when it paid $145 million, or $442,073 per unit, for The Harper Apartments. That was the eighth largest real estate deal in the Nashville area last year, the outlet reported.

— Ted Glanzer

The post Oaktree co-founder Larry Keele seeks $65M for Nashville-area estate appeared first on The Real Deal.

The South Carolina estate that was the site of the infamous 2021 murders of Maggie and Paul Murdaugh by the family patriarch is back on the market just months after it sold.

The property known as Moselle has been listed for $2 million after it was purchased by Jeffrey Godley and James Ayer in March for $3.9 million, the Post and Courier reported.

The estate includes a 5,300-square-foot home with four-bedrooms and 4.5-baths along with 21 acres of land. The property’s amenities include a recreational room perfect for billiards, with custom gun cabinets, catering to various potential uses such as a family residence, equestrian pursuits, hobby farming, or a weekend retreat destination.

The listing doesn’t include the dog kennels, which played a central role in the trial of disgraced lawyer Alex Murdagh, who was convicted of killing his wife and son.

The Murdaugh family-owned estate was also associated with other controversial incidents, including a 2019 boat crash that killed a 19-year-old girl and Alex Murdaugh’s alleged financial crimes involving millions of dollars. 

The proceeds from the recent sale were used to cover Murdaugh’s legal fees and compensate victims of his financial wrongdoings.

The property’s sale has attracted significant attention, particularly due to the auction of the Murdaugh family’s possessions. People reported tems of interest included personal belongings such as Buster’s khaki chinos, Maggie’s beloved bicycle, and the so-called “alibi couch,” which Alex claimed to have been on during the time of the murders. 

The crossbow purportedly seen in police body cam footage on the night of the murders was put up for sale on eBay, attracting bids starting at $14,000.

Selling properties where high-profile crimes have taken place isn’t easy.

“Murder is bad feng shui,” Orell Anderson, a forensic real estate appraiser who specializes in valuing properties affected by a crime, told The Real Deal in 2019. 

Residences where murders have occurred usually sell at a discount of 10 to 15 percent, according to Anderson. In cases where the homicide was high-profile, the difference can be 20 to 30 percent.

California law requires brokers to disclose whether a death has taken place at a property within the previous three years. Potential buyers can also consult DiedInHouse.com, where for $11.99 you can find out whether someone has died by murder or suicide at a particular address.

Some cases, however, are too infamous to avoid, even if the crime took place decades ago. Take, for example, 2475 Glendower Place, the five-bedroom Spanish Revival house better known as the “Los Feliz Murder Mansion.” 

There, on the night of Dec. 6, 1959, Dr. Harold Perelson bludgeoned his wife, Lilian, to death with a ball-peen hammer before severely beating his 18-year-old daughter, Judy, while his two younger children slept. She escaped and raised the alarm but not before Perelson drank poison, ending his own life.

A year later, the hillside property sold to an older couple, Emily and Julian Enriquez, but they never lived there. It sat empty for more than 40 years, attracting a cult following of gawkers who peered through the windows at dusty 1950s furniture. Finally, in 2016, the home was purchased for $2.3 million in a probate sale.

In May of this year it was listed again for $3.5 million, having been stripped down to the studs. Agent Scott Pinkerton of Century 21 Peak, who represented the 2016 buyers and is now the listing agent, said it was hard to escape the home’s dark history.

“When it first came on the market, the listing agents had a bunch of looky-loos. So many people wanted to come see the house because of what it was,” he said.

— Ted Glanzer

The post Murdaugh family estate, site of infamous murders, hits market again  appeared first on The Real Deal.

Someone other than Vornado Realty Trust will get a chance to develop a Windy City parcel near the Chicago River.

The New York-based real estate investment trust has recently put up for sale the prime parcel at 527 W. Kinzie Street, which it has owned since 1998, CoStar reported.

The land was initially earmarked for a 288-unit apartment tower, but plans have shifted, leading to its current listing. 

The history of the site is intertwined with the larger narrative of the Chicago River area’s development. Originally part of the Kennedy family’s holdings, the area has seen significant transformation, with Vornado’s ownership of the Merchandise Mart shaping the neighborhood’s commercial landscape.

The decision to sell comes amid Vornado’s efforts to divest non-core assets and reduce debt.

Vornado is represented by CBRE brokers Tom Svoboda and Blake Johnson, the outlet reported.

The property, which is in the Fulton River District, boasts a strategic location near the bustling Loop business district, River North, and the Fulton Market area. 

Its proximity to the river — dye it green on St. Patrick’s Day — and Kinzie Park adds to its appeal, with potential views of the surrounding area.

Vornado’s decision to sell the site has raised questions about the company’s plans for the area.

The company is grappling with an increase in vacancy rates at the iconic Merchandise Mart, a property it has heavily invested in over the years. It’s dropped at least $100 million in renovations on the property in the past seven years.

In an office downsize, Interpublic Group — considered one of the “big four” advertising, marketing and public relations companies — is nearing a deal to occupy between 70,000 and 80,000 square feet in the 25-story building.

It’s the latest example of companies favoring newly built or recently renovated office space to overcome the remote-work era and attract workers back to the office. Thus, a slew of office landlords throughout Chicago have invested gobs of money to meet the growing demand for amenity-filled and updated buildings.

— Ted Glanzer

The post Vornado looks to sell parcel near Chicago River appeared first on The Real Deal.

“I knew at some point in time the patent office would recognize” computer software, he said. It happened in 1968, helping to ignite the software market.

Paddy Cosgrave, the C.E.O. of the tech conference, said he would resign as Alphabet, Meta and Intel joined other companies pulling out of a show next month.

Airing criticism of the country’s response has become even more fraught than in previous conflicts, some journalists and press advocates said.

After the Hamas terrorist attack on Israel, some major donors are aiming to shape the free-speech values and top leadership on campuses.