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December 7, 2019
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LOS ANGELES COUNTY NEWS
Archive
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• Work Started on $34 Mil Charter School Facility in Granada Hills
7/17/19
Granada Hills Charter has started work on a new $34 mil facility in the northern San Fernando Valley. It will be located on the school’s Devonshire site, which Granada Hills Charter purchased in 2014 and currently houses the ...
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• Investor Pays $395k/Unit for San Gabriel Valley Apartment Building
7/17/19
In a recent multifamily sales comp from the San Gabriel Valley, an 11-unit property in Alhambra sold $4.35 mil, or $395.5k/unit, in an all-cash deal. The property, The Courts Alhambra, is located at 1508-1512 W Huntington Dr,...
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• Pacific Apartment Homes Wraps Up New Santa Monica Res Project
7/17/19
Pacific Apartment Homes has completed construction of Pico Eleven, a 32-unit residential housing project in downtown Santa Monica, just blocks from the beach. The 33k sf project, located at 1112–1122 Pico Blvd, was designed b...
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• Office Building in L.A.’s Larchmont Village Fetches over $800/sf
7/16/19
A modern, jewel box office building in the heart of tony Larchmont Village, near the upscale Los Angeles neighborhood of Hancock Park, was acquired by a local investment partnership. The three-story, 12.4k sf building sold fo...
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• Biz Park in L.A.’s South Bay Trades for Near $200/sf
7/16/19
A private investment entity involved in a 1031 exchange purchased a 53k sf business park in Rancho Dominguez for $10.45 mil. The deal works out to a price of $197/sf, which we’re told marks the highest price per square foot i...
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• North Hollywood Industrial Property Sold Before the Listing Hits the Market
7/16/19
An industrial property in the eastern San Fernando Valley community of North Hollywood has sold for $6.625 mil, prior to it having been listed. It is located at 7025-7037 Laurel Canyon Blvd, just east of the 170 Fwy and south...
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• West Los Angeles Apartment Property Sale Comes in at 3.7% Cap Rate
7/12/19
An OC-based private investor paid $3.29 mil for Ocean Park Gardens, a seven-unit ($470k/unit) apartment property located on the Westside of Los Angeles. The deal had a closing cap rate of 3.7% and a price per square foot of ...
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• Commercial Real Estate Financing Briefs
7/12/19
SONNENBLICK-EICHNER COMPANY - Sonnenblick-Eichner Company arranged $29 mil in construction financing for the Cambria Hotel Calabasas, a 125-room, select-service hotel to be located on Las Virgenes Rd, just one block south of ...
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• DTLA Office High-Rise to Undergo $20 Mil Renovation
7/12/19
KBS has begun work on a $20 mil renovation of Union Bank Plaza (UBP) in Downtown Los Angeles. Located at 445 S. Figueroa St, UBP is a Class A office tower owned by KBS Real Estate Investment Trust II. KBS’ renovation of UBP ...
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• Bolour Associates Acquires Site in LA’s Koreatown for $7.4 Mil
7/11/19
Bolour Associates Inc has purchased a .69-acre land site in the heart of Los Angeles’s Koreatown for $7.4 mil and completed a simultaneous long-term ground lease at the property with an unnamed quick serve restaurant (QSR) te...
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• West Los Angeles Land Assemblage Sale Goes for Over $600/sf
7/11/19
A rare triple-lot multifamily assembly in West Los Angeles has sold for $9.4 mil, or $613/sf. The properties are located at 10448, 10456 and 10460 Santa Monica Blvd, just west of Beverly glen Blvd at the edge of Century City....
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• Apartment Building in L.A.’s Los Feliz Neighborhood Trades at 3.42% cap rate
7/11/19
A 16-unit multifamily community in Los Angeles’ Los Feliz neighborhood was purchased for $5.45 mil ($340.6k/unit) by an unidentified family trust. The property is located at 2807-2813 St George St, south of Los Feliz Blvd and...
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• Apartment Building in L.A.’s Silverlake Area Sells for $281k/Unit
7/10/19
A 32-unit apartment building in the Echo Park area of Los Angeles traded hands in a recent $9 mil deal, giving the property a per unit price of $281.3k. The property is located at 1416 Echo Park Ave, east of Alvarado St and n...
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• Two Buildings in L.A.’s Highland Park Go for Over $600/sf
7/08/19
Two contiguous freestanding buildings encompassing 9.1k sf of space in the Highland Park area of Los Angeles were purchased by a private investor for $5.775 mil ($634/sf). The buildings are located at 5532 and 5526 North Figu...
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• OneLegacy Buys 99k sf Azusa Facility
7/08/19
OneLegacy, a non-profit tissue and organ donor organization, acquired a 98.8k sf commercial building in Azusa for $18.4 mil, or $186/sf. The property was sold by Proficiency Capital Corp - Optical LLC. The building, located...
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• Insomniac Games Takes Additional 11.4k sf of HQ Space in Burbank
7/05/19
Insomniac Games has expanded its HQ presence in Burbank, having leased an additional 11.4k sf at 2255 North Ontario St, within the Media Studios complex, bringing the video game producer’s total occupancy to 53.1k sf. Insomni...
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• LaTerra Development to Develop Two Res Projects in Santa Monica Totaling 99 Units
7/03/19
LaTerra Development has begun construction on the first of two apartment projects in Santa Monica, at the corner of Broadway Ave and Cloverfield Blvd. The second project, at the corner of Santa Monica Blvd and Yale St, is set...
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• Apartment Building in Hollywood’s Media District Sells for Near $300k/Unit
7/01/19
An eight-unit apartment property in the heart of Hollywood’s Media District traded hands for $2.37 mil ($296k/unit). The property is located at 842 Wilcox Ave, west of Vine St about midway between Santa Monica Blvd and Melros...
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• Jamison Properties Buys West L.A. Development Site
6/27/19
Jamison Properties paid $16 mil for a residential development site in the heart of West Los Angeles. The 0.65-acre site is located 11600 Santa Monica Blvd, at the intersection with Federal Ave. The site is suitable for appro...
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• Santa Monica Apartment Sale at $600k/Unit Viewed as a Value-Add Deal
6/27/19
A 14-unit apartment property in Santa Monica sold for $8.5 mil, or $607k/unit. The property, which was 85% occupied at the time of sale, is located at 833 20th St, near the cross street of prestigious Montana Ave, a favorite ...
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