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October 23, 2021
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LOS ANGELES COUNTY NEWS
Archive
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• Pasadena Office Asset Trades in $80 Mil Transaction
8/24/21
A Los Angeles-based private investor closed on the purchase of a three-building office portfolio totaling 242k sf in downtown Pasadena for $80 mil. The property, known as 2 N Lake, comprises an 11-story, a three-story and a s...
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• FremantleMedia Takes 43k sf Studio Space at Reframe Studios in L.A
8/23/21
FremantleMedia leased 43k sf of studio space at the newly developed Reframe Studios in Los Angeles. Fremantle, a producer of live unscripted television shows including American Idol and The Price is Right, signed a 12-year le...
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• Greenpointe Development Set to Start 124-Unit Mixed-Use Project in L.A.’s Leimert Park Neighborhood
8/19/21
Greenpointe Development is set to move forward on a mixed-use project in the Leimert Park neighborhood of south Los Angeles. The development, located at 4242 Crenshaw Blvd, is planned to include 124 apartment units and 6k sf ...
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• Prime Residential Buys 454 Res Units in Hermosa Beach for $275 Mil
8/18/21
In a major SoCal multifamily trade, Prime Residential acquired two adjacent multifamily assets located two blocks from the beach in Hermosa Beach for a combined price tag of $275 mil. The assets are Playa Pacifica, with 285 u...
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• Champion Real Estate Company Picks Up Former Fraternity House at USC in $7.5 Mil Deal
8/17/21
Champion Real Estate Company has acquired the former University of Southern California (USC) Alpha Gamma Omega fraternity house located at 2831 University Ave in Los Angeles from University at 30th Investors LLC for $7.5 mil....
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• Newly Constructed El Segundo Building Sells for $778/sf
8/17/21
A 90k sf, two-story creative office asset in the heart of El Segundo has traded hands in a $70 mil ($778/sf), off-market transaction. The vacant building, located at 2221 Park Place, was recently completed and is in shell con...
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• Hager Pacific Properties Buys 145k sf Industrial Asset in Unincorporated L.A. County
8/16/21
A two-building, 145k sf industrial complex in L.A.’s South Bay submarket was purchased by Hager Pacific Properties for $17.25 mil ($119/sf). The property is located at 13255 S. Broadway and 360 W. 132nd St in unincorporated L...
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• Singerman Real Estate and Darnell Capital Secure $23 Mil for Development of a Senior Housing Community in Rolling Hills Estates
8/13/21
Singerman Real Estate and Darnell Capital have obtained $23 mil in construction financing for, a to-be-built, 87-unit, assisted living and memory care community. The project is located in Rolling Hills Estates, on the Palo Ve...
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• Rexford Industrial Realty Spends $115 Mil on Trio of SoCal Properties
8/13/21
Rexford Industrial Realty Inc recently closed on the purchase of three SoCal industrial properties comprised of a 5.8-acre redevelopment site, a 107k sf industrial building and a 22.3-acre industrial outdoor storage site, for...
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• Xenon Investment Corp Spends $42 Mil on 130 Res Units in L.A.’s Koreatown Submarket
8/11/21
Xenon Investment Corp recently acquired two multifamily properties totaling 130 units in Los Angeles’ Koreatown submarket for a price of $42.2 mil, or about $324.6k per unit. The assets were sold by a private family investmen...
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• Alliance Residential Company Breaks Ground Long Beach Res Project
8/09/21
Irvine-based Alliance Residential Company has broken ground on Broadstone Promenade, an eight-story residential/retail project in Long Beach. The development consists of 189 market rate residential units atop 10k sf of ground...
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• Investor Pays Over $13 Mil for Encino Office Building
8/09/21
A 42k sf office building on a large land parcel in Encino sold for $13.2 mil ($314/sf). The property is located at 17000 Ventura Blvd, just west of Balboa Blvd in the southern San Fernando Valley. The buyer plans to hold the...
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• Trion Properties Finishes Work on Res Project in L.A.’s Mid-Wilshire Neighborhood
8/06/21
Trion Properties has completed work on Olivia Apartments, a 45-unit luxury multifamily development with 10% of the units designated affordable. The property is located at located at 1556-1564 Hi Point St, south of Pico Blvd a...
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• New 232-Room Le Méridien Pasadena Arcadia Hotel Opens its Doors
8/04/21
Le Méridien Pasadena Arcadia, the first four-star hotel in Arcadia, is complete and is now open to the public. Developed by SAICP LLC and managed by Pacifica Hotels, the premium full-service hotel features 232 rooms and suite...
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• Gantry Arranges $120 Mil of Financing in Four Self-Storage Deals
8/02/21
Gantry arranged $120 mil of new commercial mortgages in four transactions across nine self-storage assets. Permanent loan solutions were tailored to each asset, which were each unique in their phase of construction, redevelop...
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• Holland Partner Group Unveils Completed Downtown Long Beach Res Project
8/02/21
Holland Partner Group has completed work on a 285.4k sf, infill mixed-use development in the heart of downtown Long Beach. The project, Volta on Pine, features 271 apartment units, 1.3k sf of ground-level retail, subterranean...
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• Related California and the Housing Authority of the City of Los Angeles Begin Redevelopment of Housing Project in Northeast Los Angeles
7/30/21
Related California, working with the Housing Authority of the City of Los Angeles, has begun work on the first phase of the redevelopment and expansion of the Rose Hill Courts public housing complex in northeast Los Angeles. ...
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• Hawthorne Industrial Property Sells for Over $8 Mil
7/29/21
A two-building, 21.9k sf industrial project in Hawthorne was purchased for $8.1 mil ($370/sf) by a public REIT focused on industrial real estate. The 100%-leased property, located at 13020 and 13030 Cerise Ave, was sold in an...
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• Hueston Hennigan LLP Agrees to Downtown L.A. Office Expansion/Renewal Deal
7/28/21
The law firm of inked a long-term expansion/renewal lease for 33.7k sf of office space in Downtown Los Angeles. The deal is at the the three-building, 460k sf PacMutual project, owned by Ivanhoé Cambridge and Hines. Located ...
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• Real Estate Developer Bernie Huberman Passes Away
7/27/21
The world lost a real estate legend on July 10 as veteran real estate developer Bernard “Bernie” Huberman passed away at the age of 65. A son of Russian immigrants who grew up in Boyle Heights working at his father’s scrap ...
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