Bass counts The Wonderful Company\u2019s Lynda and Stewart Resnick, Rexford\u2019s Richard Ziman, luxury home developer Ardie Tavangarian, California Apartment Association\u2019s Political Action Committee, Central City Association PAC, and agents from Coldwell Banker Realty as campaign contributors.\u00a0<\/p>\n
Meanwhile, Pratt reeled in funds from Compass agent Tracy Tutor, Newmark retail broker Jay Luchs, Westside Estate Agency co-founder and high-end agent Kurt Rappaport and Beverly Hills Estates\u2019 Jacqueline Chernov<\/a>.<\/p>\n Mahan flops<\/p>\n For other candidates, however, real estate money didn\u2019t take them very far.\u00a0<\/p>\n Despite bringing in significant funds from local real estate players \u2014 including about $1.6 million from mall magnate Rick Caruso<\/a> \u2014 San Jose Mayor Matt Mahan counted just 4 percent of the vote in the race for California governor. Mahan conceded mere minutes after the polls closed on election day. As of Saturday, former Secretary of Health and Human Services Xavier Becerra led the race with 27 percent of the vote, followed by former Fox contributor Steve Hilton with 26 percent of the vote.<\/p>\n Along with Caruso, Mahan saw campaign contributions from Eastdil Secured CEO Michael Van Konynenburg<\/a>, Douglas Emmett\u2019s Jordan Kaplan, Victor Coleman\u2019s Hudson Pacific Properties, Kilroy Realty\u2019s Angela Aman<\/a>, star broker Jason Oppenheim and Related California\u2019s Bill Witte.<\/p>\n The industry seemed to connect with Mahan\u2019s messaging surrounding spurring housing development<\/a> through private sector partnerships and addressing homelessness along with his stance against Measure ULA \u2014 Los Angeles city\u2019s so-called mansion tax<\/a>.\u00a0<\/p>\n \u201cPeople who are in the industry understand the economics of home building and the many ways that the public sector often unintentionally drives up the cost of building housing,\u201d Mahan said in a March interview with The Real Deal.<\/p>\n Hackman exec loses city controller bid<\/p>\n Developer Zach Sokoloff lost in the race for Los Angeles city controller, as incumbent Kenneth Mejia grabbed 61 percent of the vote. Although votes are still being counted, LAist called the election<\/a> on Thursday, and Sokoloff essentially conceded.<\/p>\n \u201cWhile there are still votes to be counted, it doesn\u2019t appear like we can overcome the deficit we currently face,\u201d he said in a Wednesday Instagram post.<\/p>\n Sokoloff \u2014 who has been on leave from his position as senior vice president of asset management at Hackman Capital Partners<\/a> \u2014 had brought in close to $100,000 <\/a>during his campaign from those tied to the real estate industry, as of early May. Donors included Ben Ashkenazy, CEO of Ashkenazy Acquisition Corp., multiple individuals from Hackman Capital, including Michael Hackman, and Gary Weiss of LA Realty Partners, as well as brokers from Compass and Sotheby\u2019s.<\/p>\n The reason for his run had to do with his grievances with the city\u2019s \u201cbroken budget\u201d and lack of transparency in auditing, he previously told TRD. The developer said he wanted heightened oversight regarding revenue from Measure ULA and Prop HHH allocations, along with a more critical lens on expensive affordable and permanent supportive housing developments.\u00a0<\/p>\n SF politician leads for Insurance Commissioner<\/p>\n The race for state insurance commissioner tells a similar story, as real estate\u2019s favored candidate failed to get off the ground. This year\u2019s race felt more consequential for a role that typically is overlooked, as it carries implications for dismantling the statewide insurance crisis in the wake of the 2025 wildfires in L.A.<\/p>\n Former San Francisco Supervisor Jane Kim has secured a spot in the November runoff, with nearly 26 percent of the vote, as of Saturday. The second spot in the race has yet to be called but it\u2019s between state Sen. Ben Allen (with 19.6 percent), who represents Pacific Palisades, and insurance broker Stacy Korsgaden (with 16.4 percent) for the chance to go head-to-head against Kim in the November general election.<\/p>\n Of the frontrunners, Kim received the most real estate money<\/a>, pulling in close to $30,000 in contributions from industry players. Donors included Wayne Jordan of Oakland-based Jordan Real Estate Investments, Lawrence Lui of Cresleigh Management and an associate from nonprofit developer EAH Housing.\u00a0<\/p>\n Meanwhile, Allen and Korsgaden raised about $12,000 and $7,400 from the industry, respectively.\u00a0<\/p>\n Political outsider and financial analyst Patrick Wolff blew Kim, Allen and Korsgaden out of the water when it came to attracting real estate donors but didn\u2019t reel in the votes to back it up, tallying about 7 percent, as of Saturday. His nearly $43,000 raised from the sector included contributions from brokers at Sotheby\u2019s, the Beverly Hills Estates and CBRE, Ardie Tavangarian of Arya Group, Shana Tavangarian, an agent at Carolwood Estates, and Thomas Safran of Thomas Safran & Associates.<\/p>\n \tRead more \t\t\t\t\t\t\t\t\t\t\t\t\t Primary perspective on the politics of real estate in California<\/p>\n \t\t\t<\/a> \t\t\t\t\t\t\t\t\t\t\t\t\t Westsider trails SF\u2019s Kim for insurance commissioner, with ripples for resi market likely<\/p>\n
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