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December 6, 2021
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LOS ANGELES COUNTY NEWS
Archive
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• Rexford Industrial Realty Spends $115 Mil on Trio of SoCal Properties
8/13/21
Rexford Industrial Realty Inc recently closed on the purchase of three SoCal industrial properties comprised of a 5.8-acre redevelopment site, a 107k sf industrial building and a 22.3-acre industrial outdoor storage site, for...
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• Xenon Investment Corp Spends $42 Mil on 130 Res Units in L.A.’s Koreatown Submarket
8/11/21
Xenon Investment Corp recently acquired two multifamily properties totaling 130 units in Los Angeles’ Koreatown submarket for a price of $42.2 mil, or about $324.6k per unit. The assets were sold by a private family investmen...
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• Alliance Residential Company Breaks Ground Long Beach Res Project
8/09/21
Irvine-based Alliance Residential Company has broken ground on Broadstone Promenade, an eight-story residential/retail project in Long Beach. The development consists of 189 market rate residential units atop 10k sf of ground...
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• Investor Pays Over $13 Mil for Encino Office Building
8/09/21
A 42k sf office building on a large land parcel in Encino sold for $13.2 mil ($314/sf). The property is located at 17000 Ventura Blvd, just west of Balboa Blvd in the southern San Fernando Valley. The buyer plans to hold the...
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• Trion Properties Finishes Work on Res Project in L.A.’s Mid-Wilshire Neighborhood
8/06/21
Trion Properties has completed work on Olivia Apartments, a 45-unit luxury multifamily development with 10% of the units designated affordable. The property is located at located at 1556-1564 Hi Point St, south of Pico Blvd a...
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• New 232-Room Le Méridien Pasadena Arcadia Hotel Opens its Doors
8/04/21
Le Méridien Pasadena Arcadia, the first four-star hotel in Arcadia, is complete and is now open to the public. Developed by SAICP LLC and managed by Pacifica Hotels, the premium full-service hotel features 232 rooms and suite...
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• Gantry Arranges $120 Mil of Financing in Four Self-Storage Deals
8/02/21
Gantry arranged $120 mil of new commercial mortgages in four transactions across nine self-storage assets. Permanent loan solutions were tailored to each asset, which were each unique in their phase of construction, redevelop...
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• Holland Partner Group Unveils Completed Downtown Long Beach Res Project
8/02/21
Holland Partner Group has completed work on a 285.4k sf, infill mixed-use development in the heart of downtown Long Beach. The project, Volta on Pine, features 271 apartment units, 1.3k sf of ground-level retail, subterranean...
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• Related California and the Housing Authority of the City of Los Angeles Begin Redevelopment of Housing Project in Northeast Los Angeles
7/30/21
Related California, working with the Housing Authority of the City of Los Angeles, has begun work on the first phase of the redevelopment and expansion of the Rose Hill Courts public housing complex in northeast Los Angeles. ...
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• Hawthorne Industrial Property Sells for Over $8 Mil
7/29/21
A two-building, 21.9k sf industrial project in Hawthorne was purchased for $8.1 mil ($370/sf) by a public REIT focused on industrial real estate. The 100%-leased property, located at 13020 and 13030 Cerise Ave, was sold in an...
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• Hueston Hennigan LLP Agrees to Downtown L.A. Office Expansion/Renewal Deal
7/28/21
The law firm of inked a long-term expansion/renewal lease for 33.7k sf of office space in Downtown Los Angeles. The deal is at the the three-building, 460k sf PacMutual project, owned by Ivanhoé Cambridge and Hines. Located ...
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• Real Estate Developer Bernie Huberman Passes Away
7/27/21
The world lost a real estate legend on July 10 as veteran real estate developer Bernard “Bernie” Huberman passed away at the age of 65. A son of Russian immigrants who grew up in Boyle Heights working at his father’s scrap ...
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• Staley Point Capital and Bain Capital Real Estate Spend Over $12 Mil on Industrial Asset in Santa Fe Springs
7/26/21
A joint venture between Staley Point Capital and Bain Capital Real Estate purchased a 44k sf industrial property in Santa Fe Springs. The asset, located at 11804 Wakeman St, was sold by a family trust for $12.25 mil ($278/sf)...
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• CenterPoint Properties Buys Carson Industrial Property
7/22/21
Chicago-based CenterPoint Properties acquired 2850 E. Del Amo, a 264.5k sf, single-tenant distribution property in Carson. The asset, which sits on over 19 acres, was sold by Century Distribution Systems. The property featur...
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• LA Investor Pays $7.9 Mil for Anaheim Apartment Building
7/21/21
A 25-unit apartment property in Anaheim sold for $7.9 mil, or $316k/unit. It was purchased by a Los Angeles-based investor paying all cash. Built in 1989, the property is located at 9922 Broadway, southwest of I-5 at Brookhu...
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• Archway Capital Expands Its Lending Platform and Its Exec Team
7/20/21
Archway Capital has expanded its lending platform to include first mortgage debt, mezzanine capital, as well as preferred and CO-GP equity between $3 mil and $15 mil secured by performing and non-performing residential and co...
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• Creative Artists Agency Renews Its 300k sf Century City Office Space
7/19/21
Leading entertainment and sports agency (CAA) renewed its lease for 303k sf of space in Century City for an additional four years. The space is at 2000 Avenue of the Stars and 2029 Century Park East, both part of the three-bu...
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• Culver City Starbucks Trades for Over $2,000/sf
7/19/21
A 2.2k sf, single-tenant Starbucks Café (without a drive-thru) in Culver City sold for $5.096 mil, or $2,266/sf. The property is located at 12313 Jefferson Blvd, a hard corner, signalized intersection with 46,000 cars per day...
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• Historic Hollywood Tower Sells for $20 Mil
7/16/21
Hollywood Tower, an historic, eight-story, 52-unit multifamily asset located at 6200 Franklin Ave in Hollywood, sold for $20.1 mil, which equates to $386.5k per unit. The asset, originally known as La Belle Tour, was listed i...
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• Pico Rivera Retail Center Lands $23 Mil in Financing for Renovation Work
7/15/21
Crossroads Plaza Shopping Center, a 140.2k sf, grocer shadow-anchored retail center in Pico Rivera, is about to undergo a significant renovation that will include the construction of an additional 12k sf of shop space. The wo...
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