HoopsHype Real Estate rumors

April 8, 2014 Updates

As speculation builds toward a pending sale of the Milwaukee Bucks to a new group of investors, a prominent commercial real estate developer and project manager in Brookfield has filed federal documents to initiate a private offering for $450 million. Jon Hammes, founder and managing partner of Hammes Co., is listed as the director of the Hammes Partners II (A) L.P., which filed a public notice of exempt offering of securities with the U.S. Securities and Exchange Commission to initiate the private equity offering to raise $450 million. BizTimes

March 23, 2014 Updates

Devean George, a real estate developer with a heart who also was a pretty good basketball player, made an inaugural investment in north Minneapolis in 2006 that is about to reap a nice return for working-poor families and his old neighborhood. This summer, George will break ground on Commons at Penn Avenue, a 45-unit apartment building that will include retail shops. It also will house several nonprofits that work with families on education, training and employment. George has fronted or borrowed nearly $450,000 to cover predevelopment costs, including land acquisition and three years of planning. “It all starts with stable housing,” said George last week, sipping a cup of coffee at Sammy’s Eatery on W. Broadway. “Education, training, a job and maybe, one day, a family moves on to buy a house. This will work because I have all these good partners.” Minneapolis Star-Tribune

“It’s the ‘Devean George effect,’ ” said Jeff Washburne, the longtime executive director of the City of Lakes Community Land Trust, a North Side nonprofit that’s helped 200 working-class families buy refurbished city homes. “He’s a star and he’s a team player. He’s focused on this neighborhood with time and investment. He’s told us that every resident of his Commons at Penn development who is able to buy a house from us means success, and an available apartment for the next family that needs one.” Minneapolis Star-Tribune

Forget Shady Pines, when Steve Nash retires ... he'll be in the lap of luxury -- 'cause the L.A. Lakers star just dropped $4.8 million on a Manhattan Beach pad ... TMZ Sports has learned. Our real estate sources tell us ... Nash had been on the hunt for a permanent home on the West Coast -- somewhere he could settle down after his NBA career. Then he found a 4,175 square foot gem just 2 blocks from the sand. TMZ.com

March 19, 2014 Updates

Nearly seven years later, Scottie Pippen, the former Chicago Bulls star, is still trying to sell his Fort Lauderdale mansion. The asking price for the six-bedroom estate at 2571 Del Lago Drive is $11.8 million. It has 215 feet of water frontage, a spa, water slide and a basketball court, of course. Pippen first listed the Harbor Beach home for sale in September 2007 at nearly $15 million, according to multple listing service records. Chicago Tribune

March 12, 2014 Updates

No player in the NBA has spent more money on real estate than Miami Heat All-Star big man Chris Bosh. Citing data from Realtor.com, HoopsHype lists Bosh’s $12.3 million mansion as the priciest home in the NBA. Bosh’s home is in Miami, making him one of a league-leading 25 players who own a home in Florida. California comes in a close second with 24. As it so happens, Bosh owns a home there as well — it’s the third-most expensive in the league, valued at $9.4 million. For The Win

March 11, 2014 Updates
February 18, 2014 Updates

Following in the footsteps of his 1992 Dream Team teammate, who listed his own massive manse in San Antonio earlier this month, Chicago Bulls legend Scottie Pippen is taking another shot at selling his waterfront mansion-estate in Fort Lauderdale, FL. Pippen eyed a $16 million payday when he began shopping the trophy home in December 2010. However, the athlete’s mansion has seen some big price cuts over the past two years — $2.5 million in 2011 and $1.7 million in 2013. After a six-month hiatus off the market, it has returned with an ask of $11.8 million. Realtor

February 10, 2014 Updates

The Orlando Magic may not have to deal with Dwight Howard any longer, but that doesn’t mean the “Dwightmare” is over in the Sunshine State. Now a member of the Houston Rockets, the NBA superstar is poised to take a huge loss on his waterfront mansion-estate in Longwood, FL. Howard paid $7.78 million for the massive property shortly after inking a five-year, $80 million contract extension with the Magic in 2008. In a sign of just how crazy the real estate market was back then, he’s now offering the property for nearly $3 million less than what he originally paid — $4.9 million. Realtor

February 8, 2014 Updates

From estate sale to home sale, former NBA player Michael Finley is clearly looking to deal. After selling off an “NBA Showtime” arcade game and other assorted artifacts from his playing career at his Dallas residence in October, the retired shooting guard has slashed the price of his house in San Antonio. The former Mavericks and Spurs great had hoped to bank as much as $1.5 million when began shopping the half-acre property in 2011. Since then, however, Finley has shaved nearly $400,000 off his original ask — including a February adjustment of nearly $200,000 — bringing the current listing price to $1.099 million. Of the amenities found inside Finley’s 5,421-square-foot spread, none stand out more than his in-house movie theater, which looks primed for a marathon reel of his career highlights. Other luxuries within the four-bedroom, four-bathroom include various living rooms, a game room, a large kitchen and a master suite with walk-in closets. Realtor

January 29, 2014 Updates

Things are apparently winding down on Winding Lane for former NBA star David Robinson. Two years removed from selling his Texas-sized mansion on 1 Admiral Lane, the San Antonio Spurs legend is once again looking to deal. Since announcing his NBA retirement in 2003 the Hall of Fame basketball player and two-time Olympic gold medalist — who earned the nickname “The Admiral” because of his service in the U.S. Navy — has dabbled in everything from philanthropy to financial advisory to, most recently, the world of venture capitalism. Robinson now looks to raise some capital after listing his San Antonio home for $3.695 million. While not quite as large as his previous home, a 12,500-square-foot custom manse, his latest property certainly isn’t lacking in size. Sited on two acres in Shavano Park, The Admiral’s Mediterranean-style home weighs in comfortably at 8,175 square feet of living space and has five bedrooms, five full bathrooms and three fireplaces. Realtor

Dwyane Wade and his ailing knees aren’t having the best week, but at least the Miami Heat have one less thing to worry about off the court. Wade, who was relegated to bench duty this week after experiencing knee pain, has sold his townhome in Chicago. A native of The Windy City, Wade paid $1.425 million for the brick-lined townhouse in the summer of 2010. At the time, the purchase raised eyebrows given the guard’s free-agent status and the Chicago Bulls’ plethora of cap space. However, Wade ultimately chose to re-sign with Miami, where he joined with Chris Bosh and LeBron James to form the Heat’s “Big 3.” Wade’s residence, built in 2000, is located near Kinzie Park in the River West District, an area along the Chicago River and near the East Bank Club. Its 3,900-square-foot floor plan contains a host of amenities, including a state-of-the-art kitchen with wine cooler, a wet bar and a rooftop terrace with views of the river. Realtor

January 23, 2014 Updates

Jim Buss may not be making any major changes to the Los Angeles Lakers roster anytime soon, but the executive vice president of player personnel is going all-in on upgrading his real estate portfolio. Showing off some of that “Showtime” panache, Buss has made a total of five multimillion-dollar purchases in Los Angeles and Orange County over the past few months while also listing a luxury home over the same time period. The Los Angeles Times details the spending spree, which included a $4.05 million penthouse purchase at The Ritz Carlton Residences at L.A. Live and a quartet of buys in Dana Point totaling $13.53 million. Realtor

Dwyane Wade, a Chicago native and major part of three Miami Heat NBA championship teams, has sold his four-bedroom town house in Chicago's River West neighborhood for $1.66 million. Wade, 32, recently became engaged to actress Gabrielle Union. He also owns a six-bedroom, 12,520-square-foot mansion in Miami Beach, Fla., that he bought in late 2010 for $10.6 million. Chicago Tribune

January 16, 2014 Updates

They do things bigger in Texas, plain and simple. Just look at the sprawling mansion-estate owned by former San Antonio Spurs star and NBA coach Avery Johnson. The 5-foot-11 Johnson went by the nickname “Little General” during his playing days, but there’s nothing little about his 14,396-square-foot manse in The Woodlands, TX. Designed by Jauregui Architect in 2003, the athlete’s home certainly doesn’t skimp on the finer things in life. Marble flooring, grand pillars, detailed molding and murals exude a Grecian-style vibe, and cavernous ceilings and tall windows give the interior a spacious air. Realtor

No expense was spared on amenities, either. Situated on 1.69 acres that overlook the 17th hole of the golf course designed by Jack Nicklaus for The Club at Carlton Woods, the oversized residence features a wood-paneled office and library that spans two floors, basketball-court-themed bedrooms, a theater room, and a game room with a wet bar. Outside, the property has a full basketball court and sports area, a motor court and a pool with water features. The Little General’s mansion first marched onto the market last summer with a price tag of $9 million. But after roughly six months with no sale, it appears Johnson has set his sights a bit lower. The property now lists for $7.5 million. Realtor

January 8, 2014 Updates

Known as one of the best all-around basketball players in the NBA, Golden State Warriors swingman Andre Iguodala is now demonstrating his versatility off the court, particularly in the arena of real estate. After shelling out $1.84 million on a posh Mediterranean home in the hills of Berkeley earlier this year, Iguodala is now looking to get into the rental game. The All-Star wing is asking $6,700 a month to rent his 4,000-square-foot home in Sherman Oaks, CA, a neighborhood of Los Angeles. Built in 2008, the gated five-bedroom home features hardwood flooring, a chef’s kitchen and a master suite with a walk-in closet, patio access and a soaking tub and shower. Outside, the grounds offer ideal space for entertaining with a plus-sized patio, rolling green lawns and the quintessential baller amenity: a basketball hoop. Records show the home last changed hands in 2008 for $1.05 million. Realtor

January 2, 2014 Updates

National Basketball Association (NBA) team the Sacramento Kings have signed a partnership with The Krrish Group, an Indian real estate company. The Kings are owned by Indian-born Vivek Ranadive (left in picture), who previously revealed plans to build the team's brand internationally. Sportspromedia.com

December 19, 2013 Updates

It didn’t take long for Paul Millsap to find a new home with the Atlanta Hawks this off-season. Now all the NBA forward has to do is part ways with his old one — the home he’s trying to sell in Sandy, UT. A 2006 second-round pick, Millsap spent seven seasons with the Utah Jazz before inking a two-year, $19 million contract with the Hawks in July. He waited all of two months before listing the gargantuan 11,797-square-foot home outside Salt Lake City. Located 19 miles south of EnergySolutions Arena, the Millsap mansion sits on a secluded one-acre lot at the mouth of Cottonwood Canyon. The home has six bedrooms and eight bathrooms and luxury features that include 10-foot vaulted ceilings, a walkout basement with a movie theater, and the one amenity no basketball player should be without: the indoor hardwood. Realtor

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