C
ommercial real estate interests have contributed millions to recall Oakland District Attorney Pamela Price, citing a surge in crime and decline in public safety. A political action committee led by Philip Dreyfuss of Farallon Capital Management and Isaac Abid of Lakeside Group has raised $2.6 million to unseat Price. Abid stated that the impact of increasing crime on local businesses and residents was impossible to ignore.
Oakland's office vacancy rate has risen to 24.1%, with estimates suggesting a total vacancy rate of up to 30%. Observers attribute this to crime and public safety concerns, which have created a negative narrative surrounding the city. In response, major companies like Clorox, Blue Shield, PG&E, and Kaiser have pooled $10 million for security measures.
Supporters of the recall claim Price's policies led to increased crime last year, while opponents argue that Oakland's problems are decades in the making. The American Civil Liberties Union opposes the recall, calling it a "rash move" that will not solve the issue. The campaign against the recall has raised $340,000.
Donors to the recall include Dreyfuss ($590,000), Holland Residential ($199,900), and Kenneth Lin of Credit Karma ($100,000). Other notable donors include Carl Bass of Autodesk ($30,000) and PG&E ($20,000).
realestate
Oakland DA Recall Effort Heats Up with Big Money Backing
Millions spent by commercial real estate interests aim to recall Oakland DA Pamela Price over rising crime rates.
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realestate
Rockford Housing Market Gains Momentum with New Hispanic Real Estate Partnership
City leaders expect NAHREP to boost Hispanic homeownership rates.
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realestate
Commercial Real Estate Forum Held by Southeastern Association
Sandoval Economic Alliance holds partner luncheon at Quezada's Comedy Club, focusing on commercial real estate.
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realestate
KingSett freezes withdrawals from $1.9 billion flagship private equity fund.
Investors locked into the fund for at least one year due to no cash distributions or redemptions allowed.