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Lincoln Property to Transform Former Willys-Overland Dealership Property in Downtown LA to Creative Office Space 3/29/13 “The Desmond is one of the best-located vacant buildings in the area, and we see it as a perfect opportunity to help fill the shortage of creative office space downtown,” said David Binswanger, Executive Vice President at Lin...
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Calabasas Retail Center Fetches $50 Mil 3/29/13 The Courtyard at the Commons, an 87k sf retail center in Calabasas, was purchased by a global asset management firm in an all-cash deal valued at $50 mil ($575/sf). Located at 23631 Calabasas Rd, on the south side of the 101...
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Quantum Capital Partners Arranges $6 Mil Refi on West Hollywood Office Building 3/28/13 Quantum Capital Partners has arranged permanent financing of $5.9 mil on behalf of a private owner to refinance a West Hollywood office building. The new five-year, fixed loan has an attractive interest rate of just under fo...
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Investor Spends $365/sf on Pico Rivera Retail Asset 3/28/13 In an interesting retail comp from LA’s Mid-Cities region, an 11.7k sf portion of Pico Crossings traded for $4.27 mil ($365/sf). Built in 2008, the center is situated on 1.29 acres at 9311-9333 Whittier Blvd, at the intersect...
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M West Holdings Adds Hollywood and Los Feliz Properties to Its Holdings 3/27/13 A two-building, mixed-use portfolio in Hollywood and Los Feliz was purchased by M West Holdings LLC, a vertically integrated private real estate investment company. The price was not disclosed.
The two buildings are the Guar...
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AIR Leases New Space in Glendale 3/27/13 AIR Commercial Real Estate Association (AIR) is relocating to Glendale, after signing a new lease for 6.4k sf of space at 500 N. Brand Blvd, a 23-story, high-rise office building along the city’s Brand Blvd business corridor...
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HFF Arranges $78 Mil Refi on Downtown LA Creative Biz Project 3/27/13 HFF has arranged a three-year, adjustable-rate loan for $78 mil on the Alameda Square Campus, an industrial and creative office campus totaling more than 1.6 msf in downtown Los Angeles. The loan was funded through Olen Prope...
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Hollywood Hotel Renovated into Modern Apt Building 3/26/13 CIM Group has completed its renovation of the former Gershwin Hotel in Hollywood into the Gershwin Apartments. The five-story building, located at 5533 Hollywood Blvd, now consists of 163 modern units and 10k sf of ground fl...
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Vestar Closes $87 Mil South Bay Retail Acquisition 3/26/13 A Vestar-led venture has acquired Peninsula Center, a 300k sf, Pavilions-anchored center in Rolling Hills Estates, for $87.3 mil ($291/sf). The 88% leased asset was purchased with a fund advised by UBS Global Asset Management...
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Decron Properties Underway with Phase II of Playa del Rey Mixed-Use Project 3/25/13 Decron Properties Corp has kicked off work on the final phase of their Playa Del Oro mixed-use project in Westchester. Financing for the $67 mil project was arranged by Meridian Capital Group and funded by Wells Fargo. The bu...
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SoCal Apt Sales Comps 3/25/13 National real estate investment services firm Marcus & Millichap is one of the most active companies when it comes to brokering multifamily sales transactions in Southern California, as evidenced by these five recent deals in...
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West LA Apartment Property Trades for $185k/Unit 3/25/13 A fully occupied, 12-unit multifamily property in West Los Angeles sold for $2.22 mil ($185k/unit). The property is located at 11292 Brookhaven Ave, between Pico and National Blvds and close to the 405 and 10 freeways. It con...
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100-Year-Old Apt Building Near LA Live Acquired by TRG for Redevelopment Project 3/22/13 TRG has acquired a 100-year-old apartment building near LA Live for $3.05 mil in an off-market sale. The company plans to redevelop the property as luxury micro-loft units.
The three-story, 18k sf building, is located at 91...
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Maguire Obtains $105 Mil Refi for Water’s Edge 3/22/13 Maguire Investments has obtained a new $105 mil loan for the recapitalization of Water's Edge, a 6.5-acre, amenity-rich, creative office campus in the Los Angeles submarket of Playa Vista. The funds will be used for tenant i...
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Two SoCal Industrial Sales Deals Total $5.8 Mil 3/20/13 We’ve got two recent SoCal industrial sales comps to report, in Orange and the west San Fernando Valley community of Chatsworth. The deals, both brokered by DAUM Commercial Real Estate Services, totaled $5.75 mil in value and...
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Mike McKeever Hired as Senior VP at Jones Lang LaSalle 3/20/13 Mike McKeever was hired by Jones Lang LaSalle (JLL) as Senior Vice President in the firm's Tenant Representation Group in Los Angeles. McKeever, a 17-year industry veteran, will specialize in advising companies on their real...
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Film Editing Biz Owner Buys Hollywood Office Property 3/18/13 A 4.9k sf office property in Hollywood that was formerly the headquarters of FilmCore Editing recently sold for $2.2 mil, or $449/sf. The property is located at 849 Seward Ave, north of Melrose Ave about midway between Highl...
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LA’s Historic Gas Company Lofts Property Listed for Sale 3/18/13 The Historic Gas Company Lofts, an institutional-quality, 251-unit residential community with over 20k sf of ground floor commercial space located at 810 S Flower St in downtown Los Angeles, has been listed for sale. The tran...
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San Fernando Valley Apartment Property Sells for Over $9 Mil 3/15/13 A private investor paid $9.225 mil for Terraces at the Lake, a 52-unit ($177.4k/unit) multifamily asset in the Lake Balboa section of Van Nuys. The property, which is non-rent controlled, sold at a 5.3 percent cap rate, a lev...
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Affordable Senior Housing Project Breaks Ground in Long Beach 3/15/13 Palm Communities and its nonprofit partner, Western Community Housing, have broken ground on Ramona Park Senior Apartments, a planned 61-unit affordable senior housing community in Long Beach. The development will serve citiz...
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