Mahan’s California Real Estate Backers

Silicon Valley billionaires aren’t the only ones betting on Matt Mahan, the San Jose mayor turned California governor hopeful. Deep-pocketed Los Angeles real estate players are, too.

Victor Coleman’s Hudson Pacific Properties maxed out its individual contributions at $78,400, earlier this month, campaign financing data reveals. (The Los Angeles-based studio and office owner recently reported another nine-figure annual loss).

Billionaire mall developer Rick Caruso, who endorsed the moderate Democrat immediately after Mahan announced his late-entry in a crowded race, donated the max, $78,400 via two donations, in late January, a day after Mahan became a candidate. There were talks that Caruso could run for Los Angeles mayor against incumbent candidate Karen Bass (again) or California governor but he chose not to.

Los Angeles real estate investment trust Douglas Emmett’s chairman and chief executive Jordan Kaplan gave $78,400 to Mahan’s campaign for governor. Related California founder and now chairman emeritus Bill Witte donated $10,000 — and “Selling Sunset” star Jason Oppenheim donated the same. Witte and Oppenheim donated to opponent Antonio Villaraigosa’s campaign earlier. Madison Partners’ Bob Safai gave $78,400 to Mahan.

In the Bay Area, a one-two punch for Mahan came from the Sobrato Organization, a multi-generational, family-owned real estate company based in Silicon Valley. Sobrato chairman emeritus John Sobrato and his wife Sue each gave the maximum, totaling $156,800 to Mahan. (Oberndorf Enterprises, a San Francisco family office, donated $156,800, too, via William and Susan Oberndorf). TMG Partners’ Michael Covarrubias gave $39,200, among other Bay Area real estate developers.

Oppenheim told The Real Deal that he and Caruso are co-hosting an event for Mahan at the Oppenheim Group’s Los Angeles office in a couple weeks. Safai declined to comment, and the rest of the real estate donors did not immediately respond to a request.

Mahan, a critic of Gov. Gavin Newsom, has raised about $7 million, according to an announcement in early February. His non-real estate donors and rich tech backers include Joe Lonsdale, co-founder of Palantir; Y Combinator CEO Garry Tan; Matt Grimm, co-founder of Anduril — and Google co-founder Sergey Brin, Bloomberg previously reported, who donated to rival Steve Hilton. The Republican hopeful and ex-Fox News host received a $39,200 donation (the max one-time contribution) from billionaire Los Angeles developer Geoff Palmer, The Real Deal reported earlier.