Welcome back to the Real Estate newsletter. In light of Tuesday’s election results, I’m going to kick things off this week by spotlighting some real estate backstory on the mayoral race’s leading vote getter: Rick Caruso.
If you live in Southern California, Caruso’s name has been inescapable over the past few months. His face is plastered on billboards. His commercials run on radio, TV and even before YouTube videos. I’ve personally received several texts from his campaign asking for my vote.
The billionaire amassed most of his fortune through real estate with a region-spanning portfolio filled with luxury retail centers, high-end apartments and a beach resort. So, as long as his ads are running every hour of the day, we took a deep dive into his unorthodox process, which started with selling parking lots and now finds him as the best known real estate developer in Southern California.
He’s not the only billionaire that caught our eye this week; we also took a look at Stan Kroenke. The Rams owner is on a real estate spending spree in Woodland Hills, and, based on his ambitious blueprints for SoFi Stadium, we took a well-informed guess at what he’s planning.
On the celebrity side, we saw a bittersweet listing over in Brentwood, where the longtime home of late comedian Bob Saget surfaced for sale at $7.765 million. Saget, who died unexpectedly in January, and wife Kelly Rizzo owned the property for nearly two decades. His nephew is handling the sale.
Our other…
