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• Watch Industry Pros from Walker & Dunlop, Fidelity Mortgage Lenders, Axos Bank and Torrey Pines Bank Discuss the Los Angeles Finance Market at RENTV Conference
11/07/22
Expert finance panel comprised of: Peter Steigleder, President Fidelity Mortgage Lenders; Fred Ornelas, Regional Manager, Axos Bank; Sean Skelton, CCIM, Director | Capital Markets, Walker & Dunlop; and Jeff Forsythe, Senior V...
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• Value-Add Long Beach Apartment Sells for $300k/Unit
11/07/22
A local private investor paid $6.64 mil for a 22-unit ($302k/unit) apartment property in Long Beach. The property, located at 4114 to 4118 Elm Ave in the city’s Bixby Knolls submarket, is viewed as a value-add opportunity.
...
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• North Palisade Partners Starts Work on New Distribution Project in Vernon
11/02/22
North Palisade Partners has broken ground on Palisade Santa Fe Center, a 59k sf, Class A industrial property in Vernon. The site is located at 5655 Santa Fe Ave, south of I-10 and east of I-110 in the mid-cities L.A. area.
T...
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• Apartment Building in the Western San Fernando Valley Fetches Nearly $400k/Unit
11/01/22
Vince Norris, Jim Fisher, Mike Smith, Steven Goldstein, Bryan Schellinger, Mike Hanassab, and Elliot Hassan with Northmarq represented the Los Angeles based seller, Xenon Investment Corp.
A 29-unit, fully renovated apartmen...
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• Evite Leases 23k sf Glendale Building
10/31/22
Evite has leased an existing 23k sf building in downtown Glendale for the firm’s new headquarters. The online invitation company is relocating from downtown Los Angeles. Terms of the deal were not disclosed.
Evite is redevel...
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• New San Gabriel Valley Res Development Set to Open with 344 Units
10/28/22
Esperanza at Duarte Station, a new Class A 344-unit, five-story apartment in Duarte, is set to open its doors to the public, with pre-leasing now underway. The project is a development of MBK Rental Living.
The community is ...
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• Affordable Housing Project in L.A.’s Historic Filipinotown Gets Started
10/28/22
A new 46-unit affordable housing community in L.A.’s historic Filipinotown community has broken ground. The project, Lucena on Court, is being developed by Meta Housing Corporation, in partnership with The Foundation for Affo...
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• Don’t Miss NAIOP SoCal UCLA vs. USC Real Estate Challenge on Thursday, November 17
10/27/22
The much-anticipated UCLA Bruins vs USC Trojans Real Estate Challenge, one of the most popular commercial real estate industry in Southern California, returns on November 17 to the UCLA campus, just two days before the UCLA v...
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• Six Peak Capital and Grandview Partners to Develop Micro-Suite Housing Project in L.A.’s Mar Vista Area
10/26/22
Six Peak Capital and Grandview Partners have partnered to develop a two-structure micro-suite housing project in L.A.’s Mar Vista area. Way Capital has arranged $40 mil in senior construction money for the development, consis...
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• Retail Center in L.A.’s South Bay Goes for over $500/sf
10/26/22
Redondo Plaza, a 28k sf, grocery-anchored retail center located within Los Angeles’ South Bay in Gardena, sold for $15.12 mil ($540/sf). The center was sold by Storm Properties.
Built in 2002 and renovated in 2018, the 100%-...
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• Standard Management Co Spends $11 Mil on El Segundo Office Property
10/24/22
Standard Management Co purchased Elevon at Campus El Segundo, a 15.7k sf creative office building in El Segundo, for $11 mil. The building, located at 2245 Campus Dr, will serve as Standard Management’s new corporate headquar...
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• Nuveen Real Estate Picks Up 337k sf Industrial Asset in La Mirada
10/18/22
Nuveen Real Estate has acquired a 337.1k sf, Class A industrial distribution project in La Mirada. Situated on over 14 acres, the two-building, multi-tenant property is 100% leased to three tenants.
Originally built in 1997,...
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• Agora Realty & Management Spends $30 Mil on Medical Office Property in the San Fernando Valley
10/18/22
Agora Realty & Management purchased Tarzana Medical Plaza, a 75k sf medical office building in the San Fernando Valley community of Tarzana. for $30 mil ($400/sf) in an off-market deal. The property is located at 5525 Etiwand...
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• Vertical Construction Started on the Final Development Subphase at the Center at Needham Ranch in Santa Clarita
10/17/22
Vertical construction on the final subphase of development at the Center at Needham Ranch (CANR) in Santa Clarita is underway. The Center at Needham Ranch is being developed by a joint venture between Trammell Crow Company an...
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• Sale of Ground Lease for Single-Tenant Retail Property in Alhambra Closes at 3.75% Cap Rate
10/14/22
The ground lease for a 4k sf, single-tenant property occupied by Raising Cane’s Chicken Fingers in Alhambra has traded hands in a deal worth $8.2 mil. At a 3.75% cap rate, the sale broke a record for the lowest cap rate for a...
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• Meta Housing Corporation and The Foundation for Affordable Housing Break Ground on 46-Unit Res Project in L.A.’s Filipinotown
10/14/22
Meta Housing Corporation and The Foundation for Affordable Housing have broken ground on Lucena on Court, a five-story, 46-unit affordable housing community for individuals and families in L.A.’s Historic Filipinotown communi...
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• Los Angeles Industrial Market Recent Demand Driven to New Highs
10/13/22
This report provided by real estate services firm Kidder Mathews
Los Angeles Industrial Market 3rc Quarter 2022 Update
Market Highlights
• Direct vacancies remained one of the tightest in the third quarter at 1.8%.
• Direc...
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• CBRE Hotels Raises Outlook for Second Half of 2022, Expects Continued Growth in 2023
10/12/22
This report provided by CBRE
CBRE is raising its forecast for hotel performance in Los Angeles and nationally on the heels of industry gains in Q2 2022 and the expectation of slightly positive GDP growth in 2023.
In Los Ang...
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• Santa Monica Affordable Res Property Portfolio Lands $141 Mil Recapitalization
10/11/22
WS Communities LLC has secured a $141.4 mil recapitalization of its Samo Apartments Portfolio, an 11-property, 399-unit affordable multifamily residential portfolio located in Santa Monica. The recapitalization, consisting of...
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• Work Finished on New $50 Mil Facility at Long Beach City College
10/06/22
Long Beach City College has completed work on a new, 95.5k sf multi-disciplinary facility located on their Liberal Arts Campus. The project was built by C.W. Driver Companies and designed by HPI Architecture.
Designed to be ...
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