Los Angeles real estate money is lining up behind San Jose Mayor Matt Mahan’s run for governor, and the latest check is a big one. Eastdil Secured’s newly elevated CEO, D. Michael Van Konynenburg, has put $50,000 into an independent-expenditure committee supporting Mahan’s statewide bid, as outside groups and wealthy donors bankroll an aggressive ad blitz to introduce the Bay Area mayor to voters across California.
Eastdil chief’s donation and company shake-up
According to The Real Deal, Van Konynenburg, who had been Eastdil’s longtime president, made the $50,000 contribution and has now taken over as CEO after Roy March shifted into the role of executive chairman. Eastdil is headquartered in New York City, but it keeps a Santa Monica office where Van Konynenburg is based.
Big L.A. donors pile in
That check puts Van Konynenburg among a growing list of Southern California real estate players backing Mahan, including billionaire developer Rick Caruso and other industry executives, as reported by Mission Local. The Los Angeles Times reported that a Silicon Valley-backed independent committee bought Super Bowl-era airtime and other major ad buys to boost Mahan’s profile, underscoring how outside groups, not just the campaign itself, are paying to amplify his message.
Money vs. momentum
So far, all that cash has not translated into a surge in support. Public polling still has Mahan in the low single digits even as outside groups keep spending heavily to raise his name recognition…