| Rexford Industrial Realty Closes Out 2020 with Two Acquisitions Totaling $103 Mil
Rexford Industrial Realty has purchased a four-building industrial portfolio and an industrial outdoor storage property in deals totaling $103.1 mil. The acquisitions closed on December 31, 2020 and were funded using newly is...
| Lendlease Pays $92 Mil for 3.6-Acre Redevelopment Site in Culver City
Lendlease Development has acquired a 3.6-acre opportunity zone and development site in Culver City. The site, located at 3401 South La Cienega Blvd, at the southwest corner with Jefferson Blvd, was sold by La Cienega Properti...
| Investor Pays Over $300k/Unit for Long Beach Res Property
Junipero Apartments, a 16-unit community in Long Beach, traded for $4.9 mil ($306k/unit), with numerous offers. Built in 1987, Junipero Apartments is located at 1071 and 1075 Junipero Ave, east of Cherry Ave and south of Anah...
| Dedeaux Properties Sells L.A. Food Storage Portfolio
A four-building, 290.4k sf cold storage and food processing portfolio in Los Angeles traded hands in a recent transaction. The seller was L.A.-based Dedeaux Properties.
The portfolio is comprised of four net-leased assets:
| San Fernando Valley Res Development Lands $82 Mil in Financing
A joint venture between Gelt and Uhon Inc has obtained new financing of $82.2 mil on The Watermark, a soon-to-be-delivered, 250-unit multifamily building located in the San Fernando Valley community of Reseda. The loan was or...
| Kaiser Permanente Buys Former Retail Property in L.A.’s South Bay
Kaiser Permanente acquired a 16.7k sf retail building in Harbor City for $9.4 mil ($563/sf) in an all-cash transaction. Located at 1205-1207 Pacific Coast Hwy, the property – a former drug store – sits across the street from ...
| Rexford Industrial Realty Purchases Vernon Industrial Portfolio for $94 Mil
Rexford Industrial Realty Inc purchased a six-building industrial portfolio for $93.8 mil and an industrial outdoor storage yard for $16.8 mil. The acquisitions were funded using cash on hand.
Rexford acquired the six-buildi...
| Two Los Angeles Apartment Properties Trade in Deals Totaling $20 Mil
Two multifamily properties in Los Angeles sold in separate deals that totaled about $20.5 mil. The assets have a combined 63 units.
In the larger deal, a 35-unit community at 7941 Selma Ave sold for $13.6 mil ($388.5k/unit)....
| Embarcadero Capital Partners Lands $22.4 Mil in Financing for West L.A. Office Project
Embarcadero Capital Partners (ECP) has obtained $22.4 mil financing for Campus 56, a 51.4k sf office redevelopment project in Los Angeles. The loan was arranged by CBRE Capital Markets’ Debt & Structured Finance team.
| Deka Immobilien Buys DTLA Class A Office Tower
Deka Immobilien, a global real estate investment company based in Germany, is closing out the year with the off-market purchase of 915 Wilshire, a 22-story, 388.1k sf Class A office building in the heart of Downtown Los Angel...
| Retail Center in L.A.’s Koreatown Goes for $719/sf
An 80k sf shopping center in Los Angeles’s Koreatown was purchased for $57.5 mil ($719/sf) by a private investment company. The three-story property, California Marketplace, is located at 450 South Western Ave, about two bloc...
| SAFCO Capital Corporation Pays $16 Mil for L.A. Area Industrial Project
SAFCO Capital Corporation paid $15.9 mil for Paramount Business Park, a 63.2k sf ($252/sf) two-building, multi-tenant industrial project in Paramount. The asset was sold by Marcus Adams Properties LLC and Excelsior Partners L...
| Wakeland Housing and Development Corporation Breaks Ground on Two L.A. Affordable Housing Communities
Wakeland Housing and Development Corporation has broken ground on two Los Angeles affordable housing communities. The projects - the 54-unit Amani Apartments and 43-unit Chesterfield Apartments - will bring much-needed low-co...
| Cityview Locks in Financing for $125 Mil Mixed-Use Project Near USC
Cityview has secured funding for Adams & Grand, a $125 mil mixed-use project located in an opportunity zone near the University of Southern California (USC) in Los Angeles. Funded with capital from opportunity zone investors,...
| Rexford Industrial Realty Completes $154 Mil San Fernando Valley Portfolio Buy
Rexford Industrial Realty Inc recently closed on a $154.6 mil industrial property portfolio acquisition. The off-market purchase was of Van Nuys Airport Industrial Center, an 18-building portfolio located in the central San F...
| Harman International Industries Inks Renewal for 164k sf Facility in the San Fernando Valley
Harman International Industries, out of Stamford, CT, has renewed its lease for a 163.9k sf creative office/industrial facility in the West San Fernando Valley. The firm, a global leader in connected car technology and lifest...
| West L.A. Multifamily Sale Comps at $356k per Unit
In a recent multifamily sales comp from L.A.’s Westside, an eight-unit property traded for $2.85 mil, or $356k per unit. The property, located at 1332 Wellesley Ave, south of Wilshire Blvd, north of Santa Monica Blvd, and wes...
| Long Beach Apartment Building Trades in $2.4 Mil Transaction
An eight-unit apartment property in Long Beach sold for $2.4 mil, or $300k/unit. The closing cap rate was 5.6% and the gross rent multiplier was 12.3.
Built in 1986, the two-story building is located at 1066 Coronado Ave, in...
| Draftsmen & Craftsmen
Work has been completed on the new Bachmann Collaboration Building at Flintridge Preparatory School in La Cañada Flintridge. Serving grades seven through 12, the new 18k sf, three-story building includes laboratories, art stu...
| Cosmetics Firm Buys San Fernando Valley Warehouse
Lab 3 Cosmetics paid $6.5 mil for a 27.7k sf warehouse in the western San Fernando Valley. The property, located at 9655 Irondale Ave in Chatsworth, will support the cosmetic manufacturer’s expansion. Lab 3 Cosmetics is rapid...