Richard Ziman

Last updated
Richard Ziman
Born
Richard Stephen Ziman [1]

(1942-11-05) November 5, 1942 (age 81)
Williamsport, Pennsylvania
NationalityAmerican
Education University of Southern California (BA, JD)
Occupation(s)attorney
real estate investor
Known forco-founder of Arden Realty
Political party Democratic

Richard Stephen Ziman (born November 5, 1942) is a prominent real estate investor, philanthropist, and Democratic party donor in Southern California. [2]

Contents

Early life

Richard Ziman was born on November 5, 1942, in Williamsport, Pennsylvania, the son of Helen and Charlie Ziman. [2] His father, Charles Ziman, was a furniture manufacturer who donated the materials to build a new synagogue in his hometown. [2] Both his parents were Jewish. [3] He has four siblings: brothers, Allan, Curt, Larry, and sister Phyllis. [2] His family moved to Beverly Hills, California in 1958.

Ziman earned a J.D. at USC in 1967. [2]

Career

In 1968, he started a job as an associate with the law firm Loeb & Loeb where he handled real estate including development, syndication and financing. [2] In 1971, he made partner. [2]

In 1980, he left the firm and founded the real estate investment firm, Pacific Financial Group which purchased and redeveloped rundown buildings using non-recourse financing. [2] By 1987, his firm had a portfolio of 5,000,000 square feet and after discovering in 1989 that 2,000,000 square feet of his portfolio contained asbestos, which was just then becoming a concern, [2] he sold off his entire portfolio of Southern California real estate in 19 months [4] reducing his payroll from 90 to 10 employees. [2] The sale was timely as the market crashed in 1990. [4] In 1991, he co-founded with Victor Coleman and Andrew Sobel the Arden Pacific Management Group - named after the street he grew up on in Beverly Hills. [2] Arden began purchasing, at deep discounts, foreclosed commercial buildings from banks eager to exit from the burdens of property management. [2] The firm focused on properties in good locations in Southern California with small tenants (who did not have a lot of negotiating leverage and would not have a significant impact to Arden's cash flows if they moved) and who had owners willing to provide direct financing of up to 90% of the purchase price. [2] By 1996, Arden had a portfolio of 24 office buildings and 4,000,000 square feet. [2] In October 1996, Arden Realty, Inc. went public on the New York Stock Exchange in a $496 million IPO organized by Lehman Brothers. [2] Subsequent share issuances in July 1997 and February 1998 raised an additional $360 million and $710 million respectively. [2] By 2004, Arden had 200 buildings with 19,000,000 square feet. [2]

Ziman is a prominent Democratic Party contributor. In early 2007, he hosted a fundraiser for Joe Biden. [5] In 2008, he raised enough money for Hillary Clinton to earn the Clinton campaign's designation 'Hillraiser'. He contributed $15,000 to a group to help Florida and Michigan seat their Democratic Party primary election delegates. [6]

Related Research Articles

<span class="mw-page-title-main">GGP Inc.</span> U.S. real estate company

GGP Inc. was an American commercial real estate company and the second-largest shopping mall operator in the United States. It was founded by brothers Martin, Matthew and Maurice Bucksbaum in Cedar Rapids, Iowa, in 1954, and was headquartered in Chicago, Illinois, from 2000. It was subject to the largest real estate bankruptcy in American history at the time of its filing in 2009.

Alan I. Casden is an American real estate developer, investor and philanthropist. His real estate companies have developed over 90,000 multi-family apartments since the 1980s. He also owns 3,100 luxury apartments in Los Angeles.

<span class="mw-page-title-main">Sierra Towers</span> Residential in California, United States

Sierra Towers is a residential 31-story high-rise condominium building in West Hollywood, California, United States. located at 9255 Doheny Road, adjacent to Beverly Hills. It was designed by the renowned Beverly Hills mid-century modern architect Jack A. Charney, who studied under Richard Neutra and Rudolph Schindler. Completed in 1965 as an apartment building, it was originally called the Spoon Apartment Building. Building amenities include 24-hour security, concierge service, a gym, and an outdoor swimming pool.

Nicholas Anthony Christopher Candy and Christian Peter Candy are English luxury property developers. The brothers were estimated to share a joint net worth of £1.5 billion in the Estates Gazette rich list 2010, placing them at position 52 in the list of the richest property developers in the United Kingdom.

Thor Equities is a real estate development, leasing and management firm, with headquarters in New York City, London and Mexico City. Thor Equities owns property in the United States, Canada, Europe, Russia, India and Latin America, including London's historic Burlington Arcade and the Palmer House Hilton. In New York City, Thor owns retail, office and residential properties on Fifth Avenue and Madison Avenue as well as in SoHo, Flatiron, the Meatpacking District, and Brooklyn including Coney Island. Thor also has investments in major U.S. cities including San Francisco's Union Square; Georgetown in Washington, D.C.; Robertson Boulevard in West Hollywood; Collins Avenue; Lincoln Road; Wynwood and the Design District in Miami. Thor offers investment vehicles for institutional investors through its Thor Urban Property Funds. Thor Equities also has several subsidiary companies including retail advisory and tenant representation firm Thor Retail Advisors.

Elie Hirschfeld is an American real estate developer, philanthropist and art collector based in New York City. He is the son of the late real estate mogul Abraham Hirschfeld.

Frederick M. Nicholas is an American lawyer specializing in real estate development and leases. He is known as "Mr. Downtown Culture" for his role in building the Museum of Contemporary Art, Los Angeles, the Geffen Contemporary, the Walt Disney Concert Hall, and for the founding of Public Counsel, the nation's largest public interest law firm. Frederick M. Nicholas has combined his legal career with a heavy real estate involvement to become an institution builder in the arts in Los Angeles.

Adam C. Hochfelder is an American real estate executive who co-founded the real estate firm Max Capital in 1996, with members of the powerful Kalikow real estate family. At its peak, Max Capital had ownership or management stakes in 8,000,000 square feet (740,000 m2) of space, including the Helmsley Building and the Conde Nast Building. His portfolio was valued at as much as $2.7 billion at its peak. Some of the nation's largest institutions invested side by side with Hochfelder including JP Morgan, Citigroup, Wells Fargo, Goldman Sachs, Credit Suisse and Fidelity. He bought out N. Richard Kalikow from his partnership because of a soured relationship in 2002. Hochfelder paid Kalikow $35 million, of which $18 million was Hochfelder's own money, and he borrowed $17 million from banks to help finance the buyout of Kalikow. Some of the loans were collateralized in a manner inconsistent with reporting regulations. Hochfelder voluntarily paid back all of the money to complete the transaction. Due to NYS regulations, he was obligated to serve 14 months in a NYS program. Hochfelder is known as the "Wharton Whiz Kid" for his ability to financially structure and acquire some of NYC's largest properties which helped him generate multimillion-dollar deals. Currently, Hochfelder is the Managing Director of Real Estate Acquisitions & Development at Merchants Hospitality.

The Kronish House is a 7,000 square foot villa designed by Richard Neutra in 1955. The house is located on 9439 Sunset Boulevard in Beverly Hills, California in the United States. The house was designed for Herbert and Hazel Kronish.

<span class="mw-page-title-main">CrossHarbor Capital Partners</span> American investment firm, specializing in private equity

CrossHarbor Capital Partners is an American investment firm, specializing in private equity, based in Boston. CrossHarbor Capital Partners develops and manages private equity investment products in three principal business areas: real assets, distressed securities and mezzanine capital. CrossHarbor has assets under management of $5.5 billion diversified over a half dozen distinct funds. Its client base includes college endowments, state and large organization pension funds and high-net-worth individuals seeking lower fee, high potential opportunities to offset more traditional market investments.

<span class="mw-page-title-main">Prologis</span> American real estate company

Prologis, Inc. is a real estate investment trust headquartered in San Francisco, California that invests in logistics facilities. The company was formed through the merger of AMB Property Corporation and Prologis in June 2011, which made Prologis the largest industrial real estate company in the world. As of December 2022, the company owned 5,495 buildings comprising about 1.2 billion square feet in 19 countries across North America, Latin America, Europe, and Asia. According to The Economist, its business strategy is focused on warehouses that are located close to huge urban areas where land is scarce. It serves about 6,600 tenants. Prologis began to expand its non-real estate business, Essentials, in 2022, offering customers solar power, racking systems, forklifts, generators, EV charging infrastructure, and other logistics tech equipment for purchase.

<span class="mw-page-title-main">Trousdale Estates</span> Neighborhood of Beverly Hills, California

Trousdale Estates is a neighborhood of Beverly Hills, California, located in the foothills of the Santa Monica mountains. It was developed in the 1950s and 1960s and is named after Paul Trousdale, a real estate developer.

Steven Charles Witkoff is an American real estate investor and landlord based in New York City, and founder of the Witkoff Group.

Joseph Moinian is an American investor, real estate developer, and philanthropist. He is the founder and CEO of The Moinian Group, one of the largest privately held real-estate firms in the United States. He owns and operates more than $10 billion of real estate across the country.

Stanley Black is an American real estate investor and philanthropist from Beverly Hills, California. He is the founder and chairman of the Black Equities Group. Through his company, he is the owner of 18 million square feet of commercial real estate in 35 states.

RXR Realty is a vertically integrated real estate and infrastructure owner, investor, operator, and developer headquartered in New York City. The firm’s portfolio of commercial, residential, multifamily, infrastructure, and logistics projects includes 91 commercial real estate properties and investments held across the country as of 2023. RXR is a privately held company that employs around 450 professionals with experience in operations, real estate development, construction, investment, and asset management.

Matrix Realty Group, Inc. is an American real estate company based in Port Jefferson, New York, United States. Glen Nelson was the CEO of the privately held real estate investment-development firm and management company which has holdings throughout the United States. The company owns and manages over 6 million square feet of Class A commercial office buildings, 10,000 multi-family residential units, and other commercial properties.

Henry Elghanayan is an Iranian-born American real estate developer who co-founded and is the current chairman the Rockrose Development Corporation.

<span class="mw-page-title-main">Jonathan Goldstein (businessman)</span> British solicitor and entrepreneur

Jonathan Goldstein is a British solicitor and entrepreneur. He is co-founder and CEO of the multinational investment firm Cain International, and a director and co-owner of Chelsea.

Cain International is a privately held real estate investment firm headquartered in London.

References

  1. ↑ "Richard Stephen Ziman # 41645 - Attorney Licensee Search".
  2. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Beverly Hills Courier: "Profile of Richard S. Ziman" by John L. Seitz October 4, 2004
  3. ↑ Jewish Journal: "Philanthropist Daphna Ziman combines advocacy for foster kids, new career as author" by Naomi Pfefferman August 9, 2011
  4. 1 2 Berry, Kate (January 4, 2005). "Real deals: Richard Ziman's reputation comes from selling at the top of the L.A. property market in 1989 and buying again when things bottomed out". Los Angeles Business Journal.
  5. ↑ David M., Halbfinger (February 6, 2007). "Politicians Are Doing Hollywood Star Turns". New York Times. Retrieved April 21, 2008.
  6. ↑ Luo, Michael (April 4, 2008). "Facing Obama Fund-Raising Juggernaut, Clinton Seeks New Sources of Cash". New York Times. Retrieved April 21, 2008.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.