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August 22, 2019
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• Luxury Residential Development Opens in Glendale
NEXT on Lex, a new residential and retail mixed-use community in Glendale, has opened to the public. We’re told the upscale project, a development of Century West Partners and Modern Luxury, is the largest for-rent community ...
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• Blatteis & Schnur Inc Buy 15k sf Property along Santa Monica’s Third Street Promenade
Blatteis & Schnur Inc has acquired 1404-1408 3rd Street, a mixed-use building totaling 14.6k sf of office and retail space along the Third Street Promenade in Santa Monica, for $24.5 mil ($1,678/sf). The buy was financed with...
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• Driverless Car Company Cruises into Pasadena
San Francisco-based driverless car company, GM Cruise, agreed to an $11.4 mil lease for 47k sf of office space in Pasadena. Located at 465 N. Halstead St, the two-story low-rise office building sits in the amenity-rich area o...
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• Spaces Takes More Space in Santa Monica
Coworking firm Spaces inked a lease for 69.2k sf at The Water Garden in Santa Monica. Terms of the deal were nto disclosed. The creative office campus sits within the Silicon Beach area and recently underwent an extensive, m...
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• Construction Quick Take
Lowe Enterprises is well underway with construction of the highly-anticipated Ivy Station, a 500k sf, mixed-use project adjacent to the Culver City Station of the Metro Expo light-rail line, connecting downtown Los Angeles to...
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• Relevant Group’s 190-Room Boutique Hollywood Hotel Planned for Completion in 2020
Construction is underway on the Thompson Hotel, a 190-room hotel project in Hollywood. Construction of the luxury, boutique hotel, a development of Relevant Group, is being financed with a $63 mil loan provided by Calmwater C...
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• Culver City Office Complex has Seen 97k sf in Leasing Activity since Redevelopment over Two Years Ago
There has been $21.4 mil and 97k sf in leasing activity at The Courtyard, a newly renovated Class A creative office campus in Culver City, over the past two and a half years since it was acquired by LA-based Olive Hill Group....
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• Optimus Properties Exchanges $15.75 Mil in Torrance Office Building
Optimus Properties LLC paid $15.75 mil for a 60.8k sf office building in Torrance, as part of a 1031 exchange. The property, located at 2325 Crenshaw Blvd, was sold by an affiliate of Transpacific Development Company. The pr...
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• Sun Valley Apartment Property Goes for $192k/Unit
A 26-unit apartment complex in Sun Valley exchanged in a $5 mil ($192.3k/unit) transaction. At the time of the sale there was a federal tax lien along with a deed of trust which hadn’t been reconveyed. The property is locat...
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• Two Hollywood Apartment Properties Trade for $211k/Unit
Los Angeles-based Lillian Way Capital Group LLC purchased two garden-style multifamily properties, totaling 32 units, in a prime area of Hollywood, for $6.75 mil, or $211k/unit. The properties, located at 750 and 760 Lillian ...
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• High-Rise Res Tower Breaks Ground in L.A.’S Koreatown
Hankey Investment Company LP and Jamison Properties LP have broken ground on a $300 mil, 25-story residential tower L.A.’s Koreatown area. The development is at 2900 Wilshire Blvd, at the corner of Wilshire and Hoover St. Th...
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• Apartment Property in the Hollywood Area Sells for Just over $200k/Unit
In a recent L.A. multifamily sales comp, a 21-unit apartment property sold for $4.25 mil, or $202.4k per unit. The property is located at 6126 Eleanor Ave, west of the 101 Fwy on the south side of Santa Monica Blvd. Built in...
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• The Roy at Overland Adds 92 Res Units to West L.A.’s Palms Neighborhood
The Roy at Overland, a mixed-use housing project in West Los Angeles’ Palms neighborhood, is finished and is open to the public. The 92-unit complex was developed by Anejo Development LLC and Griffin Opportunities LLC, and de...
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• Draftsmen & Craftsmen
Work has been completed on a new $73 mil student services building at California State Polytechnic University, Pomona. Serving as a new “front door” to the university, the three-story, 138.4k sf structure consists of two buil...
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• Trion Properties to Build 45-Unit Res Project with Kettner Construction in L.A.’s Mid-Wilshire
Trion Properties and Kettner Construction have teamed up to develop a 45-unit, luxury multifamily development in L.A.’s Mid-Wilshire neighborhood. Trion recently acquired a fully permitted and entitled 26.9k sf development si...
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• Older San Fernando Property to Be Converted into Creative Office Campus
Alvarez & Marsal Capital Real Estate LLC recently acquired a 4.3-acre site in the southwestern San Fernando Valley community of Tarzana for redevelopment into a creative office campus. The property, located at 18362-18424 Oxn...
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• Commercial Real Estate Financing Briefs
AVISON YOUNG - Jay Maddox and Peter Sherman with Avison Young arranged a $29 mil loan on behalf of Mega Home LLC to refinance the construction and sell-out of a partially completed 80-unit condominium project located in Los A...
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• Bridge Development Partners is Thinking Inside and Outside the Box
In a notable industrial buy in Los Angeles, Bridge Development Partners LLC has acquired ‘The Box Yard’, a 261.5k sf industrial property located on 7.54 acres at 2445 East 12th St, south of I-10 and Olympic Blvd, on the west ...
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• BKM Capital Partners Closes on Third of Three Recent Light Industrial Portfolio Buys that Total Over $138 Mil
BKM Capital Partners acquired a two-property portfolio in San Diego for $16.6 mil. For BKM, this purchase is one of three recent light industrial multi-tenant portfolio acquisitions, which encompass more than 769.4k sf for a ...
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• Universe Holdings Adds to Its Growing Multifamily Portfolio in Inglewood
Universe Holdings has acquired Chateau Park Casino Royale V, a 15-unit multifamily community in Inglewood, for $3.8 mil, or $253k/unit. Located at 232 W Olive St, the community is situated five minutes away from the redevelo...
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