Los Angeles Developers and Property Owners Back Nathan Hochman to Unseat LA County District Attorney
Los Angeles developers and property owners are throwing their weight behind Nathan Hochman, a former federal prosecutor and Beverly Hills High School alum, in his bid to unseat L.A. County District Attorney George Gascón.
Record-breaking fundraising
Hochman has raised a staggering $9.9 million, with the majority coming from real estate industry donors. According to campaign filings, Hochman has received contributions from over 4,000 donors, with many from top real estate executives and developers. This makes his campaign one of the most expensive challenger bids for the office in L.A. County history.
Real Estate Industry Backs Hochman
Dozens of real estate industry leaders have contributed to Hochman’s campaign, including:
- Jerry Marcil, president of Palos Verdes Investments, who gave $459,000
- Rick Caruso, billionaire developer and former LA mayoral candidate, who contributed $250,000
- Douglas Emmett Properties, a Santa Monica-based company, which donated $250,000
- Hudson Pacific Services, a Los Angeles-based company, which gave $200,000
PACs Play a Big Role
About half of the money raised by Hochman has gone to 12 political action committees (PACs) that support him. These PACs can accept larger donations than specific candidate campaigns and have given up to $1 million to Hochman’s cause.
Why are Real Estate Executives Backing Hochman?
Real estate executives like Bob Safai, president of Madison Partners, believe that Hochman’s message of public safety and law and order resonates with the industry. "It’s a joyous place to live, but now it’s a scenario where you don’t feel safe. The administration that’s in place is not doing enough to curb the crime. Crime is crushing real estate," said Safai.
The Impact on Real Estate
Real estate industry leaders are concerned about the impact of crime on property values and the overall business. "These smash-and-grab robberies, they’re all over the news," said Dan Yukelson, executive director of the Apartment Association of Greater Los Angeles (AAGLA). "Hochman’s aggressive, and he’s what we need now in L.A. County."
Support from Local Associations
AAGLA, along with other real estate associations, has endorsed Hochman, citing his anti-crime stance and commitment to public safety. Other prominent backers include the Greater Los Angeles Realtors Association, the Southland Regional Association of Realtors, and the California Association of Realtors.
Conclusion
Nathan Hochman’s campaign has received significant support from the real estate industry, with many seeing him as the best candidate to address the issue of public safety in Los Angeles County. With a record-breaking $9.9 million in donations, Hochman’s campaign will likely continue to attract attention in the run-up to Election Day.
Frequently Asked Questions
Q: Who is backing Nathan Hochman’s campaign?
A: Real estate industry leaders, executives, and developers are among the top backers of Hochman’s campaign.
Q: Why are real estate executives supporting Hochman?
A: Many are concerned about the impact of crime on property values and the overall business, and believe that Hochman’s message of public safety and law and order resonates with the industry.
Q: How much has Hochman raised for his campaign?
A: As of September 21, Hochman has raised a record-breaking $9.9 million.
Q: What is the gap between Hochman and Gascón in fundraising?
A: Gascón has raised around $1 million, placing him significantly behind Hochman in fundraising.
