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October 20, 2019
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LOS ANGELES COUNTY NEWS
Archive
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• Upscale Apartment Development in L.A.ís Ladera Heights/Westchester Area is Completed
3/06/19
Legacy Knowlton, a new, luxurious residential development in the Ladera Heights/Westchester neighborhood of Los Angeles, near Los Angeles International Airport, has officially opened to the public. The 36-unit project, locate...
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• KH Funding CA LLC Originates Its First Three Financings in California
3/05/19
KH Funding CA LLC has originated its first three loans in the state, totaling $13.85 mil. The financings were secured by development sites for two multifamily projects in West Los Angeles and a planned boutique hotel in Oran...
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• Ground-Leased Site in Santa Monica Fetches $65 Mil
3/05/19
Goldman Sachs has acquired a ground-leased land fee position in Santa Monica in a transaction worth $65 mil. The site, encompassing 0.79 acres, is located at 1733 Ocean Ave, in the cityís prime oceanfront area. The sale repr...
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• Downtown L.A. After the Rain
3/04/19

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• Vintage Apartment Property in L.A.ís Koreatown Area Trades for $165k/Unit
3/04/19
Western Arms, a vintage 76-unit multifamily property in the heart of L.A.ís Koreatown district, has traded for $12.56 mil ($165k/unit). The rent-controlled property is located at 1057 S. Western Ave, within walking distance...
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• Two Older Santa Monica Apartment Buildings Trade in Deals Worth over $20 Mil
3/01/19
A portfolio of two nearby apartment properties totaling 43 units in prime Santa Monica neighborhoods was sold to two buyers in deals totaling $20.6 mil ($479k/unit). Both properties are near Montana Ave and are within walking...
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• Los Angeles Apartment Property from 1928 Lands $22.5 Mil in Financing
3/01/19
Massie Capital Management LLC has obtained $22.5 mil in financing for William Penn Apartments, a 189-unit, mid-rise apartment building in Los Angeles. Loan proceeds were used to return equity to investors and provide future f...
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• Insomniac to Remain at Burbank Office Campus
2/28/19
Video game software company, Insomniac Games, has agreed to a 65-month renewal of its lease at Burbankís Media Studios campus. Insomniac, which has been in this space since 2002, will continue to occupy the entire 5th floor, ...
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• Local Investor Pays over $11 Mil for Long Beach Apartment Portfolio
2/27/19
A portfolio of four adjacent apartment buildings totaling 36 units in Long Beach has sold for $11.05 mil ($307k/unit). The buyer was Long Beach-based Raven Properties LLC. Built in 1963, the properties are located at 910, 9...
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• Long Beach Multifamily Value-Add Opportunity Goes for $72 Mil
2/26/19
Friendly Franchisees Corporation paid $72 mil for The Landing at Long Beach, a 206-unit ($350k/unit) property in Long Beach. The asset, located at 1613 Ximeno Ave, was sold by Western National Realty Fund II L.P., an investme...
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• San Fernando Valley Del Taco Sells for $1,540/sf
2/25/19
A single-tenant, freestanding property with drive-thru occupied by Del Taco in the western San Fernando Valley community of Chatsworth sold for $3.02 mil. The tenant has over 12 years remaining on its long-term absolute NNN c...
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• Long Beach Apartment Building Traded at $325k/Unit
2/25/19
A 16-unit apartment property in the Rose Park neighborhood of Long Beach sold for $5.2 mil, or $325k/unit. The property is located at 640 Stanley Ave, just blocks from the trendy Fourth Street/Retro Row area and is just seven...
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• Westport Properties Buys Land Parcel in East Los Angeles
2/22/19
Westport Properties has picked up a 2.2-acre land parcel in the Eastside submarket of Los Angeles. Irvine-based Westport plans to develop a three-story, 152k sf self-storage facility on the site, located at 4800-4830 Valley B...
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• Luxury Residential Development Opens in Glendale
2/21/19
NEXT on Lex, a new residential and retail mixed-use community in Glendale, has opened to the public. Weíre 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 Monicaís Third Street Promenade
2/21/19
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
2/20/19
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
2/19/19
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
2/18/19
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 Groupís 190-Room Boutique Hollywood Hotel Planned for Completion in 2020
2/18/19
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
2/15/19
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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