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July 3, 2020
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LOS ANGELES COUNTY NEWS
Archive
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• Barker Pacific Group Venture Buys Self-Storage Property in Pomona
11/11/19
Barker Pacific Group’s (BPG) Storage Solutions division, in a joint venture with LNG Management LLC, has acquired EZ Storage Pomona, a 520-unit self-storage property, for $4.95 mil. The 44.5k sf asset was sold by E-Z Storage ...
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• Private Investor Pays Over $600/sf for Glendale Retail Center
11/08/19
Glendale Center East, a 5.2k sf, retail center in Glendale, was purchased by an unidentified private investor for $3.3 mil, or roughly $636 per square foot. The property, located at 1100 S Glendale Ave, is a classic L-shaped ...
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• San Fernando Valley Multifamily Sale Closes at $379k/Unit
11/08/19
Burnet Townhomes, a 43-unit multifamily community in the San Fernando Valley community of North Hills, was purchased by a private investor in a recent $16.3 mil ($379k/unit) deal. Located at 9001-9009 Burnet Ave, south of No...
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• L.A. Westside Residential Purchased for Redevelopment Opportunity in $6 Mil Deal
11/08/19
An eight-unit multifamily property in the L.A. westside community of Westwood has sold for $5.95 mil. The property is located at 2027 and 2031 S. Beverly Glen, midway between Santa Monica and Olympic Blvds, in one of the most...
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• Continental Development Secures $55 Mil Refi on 206k sf Property
11/07/19
Continental Development has obtained a $55 mil refi loan on a 206k sf office/retail property situated within Continental Park, an 86-acre, master-planned mixed-use campus along the Rosecrans corridor on the border of El Segun...
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• San Fernando Apartment Property Comp Comes in at $182k/Unit
11/07/19
A 30-unit multifamily property in the North Hills area of the San Fernando Valley sold for $5.475 mil, or $182.5k/unit. The buyer and seller are both private investors. The property, Orion Gardens, is located at 8923 Orion A...
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• Los Angeles and Orange County Named Among Greenest Markets in the U.S. for Both Office and Multifamily
11/06/19
This report was provided by real estate services firm CBRE Los Angeles and Orange County rank among the greenest markets in the country, according to the annual Office Green Building Adoption Index and inaugural Multifamily ...
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• Recently Completed Res Project in L.A.’s Koreatown Sells for Almost $500k/Unit
11/05/19
A 60-unit multifamily property in Los Angeles’ Koreatown neighborhood has sold for $29.25 mil, or $487.5k/unit. The 48k sf property, Kodo, was completed in 2018 and is located at 2867 Sunset Place, west of Hoover St and just ...
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• Multi-Tenant Retail Property in Beverly Hills Fetches $920/sf
11/05/19
An 8.7k sf, multi-tenant retail property in Beverly Hills traded hands for $8 mil, in a transaction that works out to $920/sf. The property, built in 1951, sits on 0.29 acres at 301-311 North Robertson Blvd, at the intersecti...
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• 148-Room The Shay to be Hotel Component of Ivy Station Campus in Culver City
11/04/19
Lowe and AECOM-Canyon Partners have revealed details for The Shay, a new six-story, 148-room boutique hotel that is a pivotal component of Ivy Station, the 500k sf mixed-use development currently under construction in Culver ...
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• Long Beach Apartment Building Trades at $381k/Unit
11/01/19
An eight-unit apartment property in Long Beach’s Alamitos Beach neighborhood sold for $3.05 mil, or $381k/unit. It was acquired by a Los Angeles-based family office in a deal that had a closing cap rate of 4.9%. The property...
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• Work Finished on Marina del Rey Live/Work Campus
11/01/19
Work has been completed on INclave, a dynamic live-work-play campus in the Marina Arts District of Marina del Rey. Located at 4061-4065 Glencoe Ave, INclave comprises 65k sf of tech savvy, amenity- rich creative office space...
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• Third Res Tower at Metropolis Development in DTLA Set to Open Soon
11/01/19
Metropolis, the $1 bil landmark development in Downtown Los Angeles, is nearing final completion as one of the largest mixed-use communities in the western United States. Along with the current, 18-story Hotel Indigo (by IHG ...
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• Historic Office Building in Downtown L.A. Hits the Market
11/01/19
Farmers & Merchants Bank, a historic, 16.4k sf creative office property in downtown Los Angeles, has been listed for sale. The property, located at 401 S. Main St, at the corner with Fourth in the historic core of the Downtow...
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• Greystone Provides $33.7 Mil Refi Loan on Long Beach Area Mobile Home Community
10/31/19
Greystone has provided a $33.7 mil Freddie Mac refi loan on Belmont Shores Mobile Estates, a 347-unit age-restricted manufactured housing and mobile home community in Long Beach. Located within the beach community in Californ...
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• Retail Building in Belmont Shore Area of Long Beach Sells for $555/sf
10/30/19
A rare high-street, multi-tenant retail asset located in the popular Belmont Shore neighborhood of Long Beach sold for $5 mil. The 9k sf ($555/sf) asset was acquired by a private investor out of Long Beach. The 100%-leased b...
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• Rexford Industrial Realty Buys One SoCal Property and Sells Another
10/29/19
Rexford Industrial Realty has acquired one SoCal industrial property for $8 mil, while selling another for $11.2 mil. The acquisition was funded using cash on hand. In the acquisition, the company purchased 8985 Crestmar Poi...
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• Trion Properties and The Ketter Group Acquire Dev Site in L.A.’s Mid-Wilshire
10/28/19
Trion Properties and joint venture partner The Ketter Group have acquired a land parcel in L.A.’s Mid-Wilshire area for $7.35 mil. The land, which was previously entitled for 45 units, will be used for residential development...
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• Barings’ 801 Tower in Downtown LA Wins BOMA Award
10/25/19
Barings’ 801 Tower in Downtown Los Angeles received The Outstanding Building of the Year (TOBY) award from the Greater Los Angeles Building Owners and Managers Association (BOMA). Competing in the 250k sf to 499k sf category,...
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• Walls Tilted on Three Buildings at The Center at Needham Ranch
10/24/19
In development news out of northern L.A. County, the walls have been raised on all three buildings in Phase 1B of The Center at Needham Ranch. The 54-net acre business park, a development of Trammell Crow Company and Clarion ...
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