In the News—Week of December 1, 2025

Thomas Title & Escrow is pleased to announce the successful closing of an $11 million refinance for Heights on Lemon, a multi-family property located in Tempe, Arizona. The borrower secured new financing to support ongoing operations and strengthen the asset’s position within the high-demand Tempe submarket near Arizona State University. This transaction was facilitated by Senior Commercial Escrow Officer Joel Montemayor and Director of Commercial Services Kylie Cook. Congratulations to everyone involved in completing this transaction.

Department of Justice, RealPage settle suit over data that helped landlords to fix prices

The Department of Justice has reached a settlement with RealPage, a real estate technology company accused of facilitating illegal rent price-fixing among landlords, the New York Post reports. Under the agreement, RealPage must stop using confidential, competitive rental data from landlords to set prices and can only use information at least a year old. The settlement requires court approval and includes oversight by a court-appointed monitor to ensure compliance. This case represents the first time federal antitrust authorities have pursued legal action against algorithmic collusion, addressing concerns about how software-driven pricing affects market competition.

Cinema giant Coppola uses tower in San Francisco to secure financing

Francis Ford Coppola has used his iconic Sentinel Building in San Francisco as collateral for a private loan, marking another instance of the director leveraging the landmark property to secure financing, The Real Deal reports. This move follows significant financial challenges stemming from his 2024 film “Megalopolis,” which cost $120 million to produce but earned only $14.4 million at the box office. To fund the project, Coppola had borrowed $200 million against his wine business holdings. The director has recently been selling assets, including a Belize island and luxury watches, to address his financial pressures while working on his next film project in Europe.

Once iconic retail mall in San Francisco auctioned off for fraction of former value

The San Francisco Centre Mall, once valued at $1.2 billion, was sold at auction for only $133 million after years of decline driven by pandemic shutdowns, increased crime and shifting consumer habits toward online shopping, the Daily Mail reports. The mall was previously known as the Westfield Emporium. Major anchor stores including Nordstrom and Bloomingdale’s closed their doors, leaving the massive seven-story complex with only 9% of its retail space occupied. The previous owners defaulted on loans in 2023, citing unsafe downtown conditions and rampant criminal activity as primary factors in the mall’s deterioration. Real estate brokers have been hired to find a new buyer, with city officials expressing hope the sale will mark a turning point for revitalizing the downtown area and Market Street corridor.