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Wednesday, November 26, 2014

UCLA Wins NAIOP Silver Shovel Award

LOS ANGELES--The five-member graduate student team imagines a mixed-use development on a 21-acre site to beat out USC for the prestigious award at the annual NAIOP SoCal Real Estate Challenge.



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Apartment Sales Could Edge Past '07 Totals

LOS ANGELES--Demand for apartments is still exceeding new supply, bringing the vacancy rate nationwide down 60 basis points below the long-term average, says CBRE.



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Oaktree and Intertex Buy Biomedical Portfolio

LOS ANGELES--The joint venture buys the Mann Biomedical Park and Sylmar Biomedical Park, a two-property portfolio, from an entity affiliated with Alfred Mann.



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Tuesday, November 25, 2014

UCLA Completes $115M Wasserman Building

LOS ANGELES--PCL Construction and Morley Builders complete tenant improvements on the Edie and Lew Wasserman-dedicated building at the campus, which will serve as a research and patient-care facility.



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Banks Show Proper Credit Discipline

LOS ANGELES--Luther Burbank Savings' Jason Pendergist, who is featured on Real Estate Forum's "Fifty Under 40" list, talks lending trends, noting that the banks are back with lessons learned.



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GCEAR, Signature Will Merge into $3B REIT

EL SEGUNDO, CA--Kevin Shields, Griffin Capital Essential Asset REIT's chairman and CEO, sees "additional scale, diversity and operating efficiencies" in the combined portfolio.



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Hotel Palomar Trades Hands for $79M

LOS ANGELES--Pebblebrook Hotel Trust buys the 264-room Kimpton-managed boutique hotel in its fifth California hotel purchase and 10th Kimpton Hotel purchase.



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Monday, November 24, 2014

Maxxam Enterprises Completes $100M Sale

BEVERLY HILLS, CA--The three-property sale includes the L'Opera Building, an office building, Maui Lu Resort, a hotel, and Arlington Plaza shopping center, GlobeSt.com reports in this EXCLUSIVE story.



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Sunday, November 23, 2014

Viacom Inks Major Lease at Columbia Square

LOS ANGELES--The media company signs an 180,000-square-foot lease at Kilroy Realty's Hollywood office development Columbia Square to consolidate several offices around Los Angeles.



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Friday, November 21, 2014

Hyundai Earns 2014 CoreNet REmmy Award

LOS ANGELES--CoreNet's 2014 REmmy Awards bestows honors to real estate industry leaders, including JLL, Avery Dennison's Terri Johnson and Hyundai Motor America.



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Alhambra Place Complex Breaks Ground

ALHAMBRA, CA--Construction begins on the retail portion of Shea Properties' 260-unit multifamily mixed-use complex, with completion scheduled for summer 2015, GlobeSt.com reports in this update to a previous story.



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Thursday, November 20, 2014

Oaktree Signs Year's Largest Downtown Lease

LOS ANGELES--The investment manager signs an 182,000-square-foot lease renewal with a 26,000-square-foot lease expansion at Brookfield Property Partners' Wells Fargo Center.



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Bobek On Track For Record Year

LOS ANGELES--With $1.2 million in commissions, Avison Young's Jacob Bobek, one of Real Estate Forum's Fifty Under 40, is set to break his 2013 top-producer record.



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Hollywood Site Plucked for Hotel Project

LOS ANGELES--R.D. Olson Development buys the 23,659-square-foot development site for $581 per square foot and $750,000 over asking price with plans to build a hotel, GlobeSt.com reports in this EXCLUSIVE story.



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Wednesday, November 19, 2014

Colony Goes Industrial with Cobalt Buy

LOS ANGELES--"A market-leading presence in the light industrial space" represents Colony Financial's strategy of launching focused platforms to achieve additional growth, says executive chairman Thomas Barrack.



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BH Properties Hires Chief Acquisition Officer

LOS ANGELES--Andrew Van Tuyle joins the firm from Standard Management to oversee property and debt acquisitions throughout the southwest region.



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Tuesday, November 18, 2014

Macerich Buys Out JV Partner Via Stock Swap

SANTA MONICA, CA--The retail REIT and OTPPB subsidiary Cadillac Fairview have been partners in regional mall ownership since 1999.



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Auction.com Investors Gain Ease of Financing

LOS ANGELES--Auction.com's Rick Sharga talks about the company's recently announced partnership with Colony and why it is a good fit for Auction's buyer base, in this UPDATE to a previous story.



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KTGY-Designed Gaspar Complex Opens

LOS ANGELES--Planet Home Living opens its 10-home residential complex in Echo Park, a collection of single-family homes built under the Los Angeles Small Lot Ordinance.



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Monday, November 17, 2014

StarPoint Properties Makes $52M Multifamily Buy

WEST COVINA, CA--The investor buys Lafayette Parc Apartments, a 236,000-square-foot 259-unit property with plans to invest an additional $2.5 million for amenities, GlobeSt.com reports EXCLUSIVELY .



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Colony Buys $165M Loan Portfolio

SANTA MONICA, CA--Along with the purchase of the portfolio of acquisition lines secured by single-family homes, Colony American Finance enters in to a partnership with Auction.com to provide financing to the company's buyer base.



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Credit Enhancement Best Place to Add Value

LOS ANGELES--Helping net lease tenants move up the chain of credit with properly structured leases is an ideal way to add value to properties whose cap rates are shrinking, say speakers at RealShare Net Lease West.



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Sunday, November 16, 2014

Xebec Realty Partners Lands $23M Loan

FONTANA, CA--The funds will be used to develop the Catawba Distribution Center, a 310,550-square-foot class-A industrial facility, which is scheduled for completion in August 2015.



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Friday, November 14, 2014

Kennedy Wilson Offers $350M in Senior Debt

LOS ANGELES--The company is offering its 5.875% notes, which will be due in 2024 and will be treated as part of a single group with a $300 million aggregate principal notes offered in March.



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Millennial Professionals More Attuned to Market

LOS ANGELES--While making Real Estate Forum 's Fifty Under 40 list, Washington Holdings' Chad Christensen talks about how next-gen is shaping commercial real estate and how next-gen professionals can better attend to those needs.



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Underwriting Standards Moving Back to '07

LOS ANGELES--While leverage is decreased from 2007, a lot of conservative underwriting has been seen in the net lease space since CMBS came back, say speakers at RealShare Net Lease West.



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150K-SF Creative Office Build Comes DT

LOS ANGELES--GPI Companies and Atlas Capital are developing the creative office space, named Fourth & Traction, in the historic Coca-Cola factory in the downtown arts district, GlobeSt.com reports in this UPDATE to a previous story.



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Thursday, November 13, 2014

Bernards to Build $110M Henry Mayo Hospital Tower

LOS ANGELES--The Los Angeles-based builder will design and construct the six-story tower, adding 116 beds to the 238-bed not-for-profit community hospital and trauma center.



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BH Triangle Office Building Trades for $47M

BEVERLY HILLS, CA--Several trusts sell the 26,500-square-foot office building after more than 90 years of ownership in an all-cash transaction to New York-based investor Jenel Management Corp.



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Tertiary Markets Draw Net Lease Investors

LOS ANGELES--As product for sale in this asset class becomes ever scarcer and primary market yield decreases, secondary and tertiary markets appeal, say speakers at RealShare Net Lease West.



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Net Lease West Cocktail Reception Wows

LOS ANGELES--More than 100 net-lease industry executives join GlobeSt.com and host W. P. Carey at the ACE Hotel Rooftop Lounge for an evening of networking, food and drinks the night before the conference.



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Downtown Condo Prices up 13%

LOS ANGELES--The latest report from the Mark Co. shows that condo prices in Downtown Los Angeles are appreciating rapidly, as much as 1% every month with the current price index at $701 per square foot.



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Apts., Industrial Benefit As Economy Rallies

CALABASAS, CA--With the Federal Reserve's bond-buying program now over, all eyes will be on the central bank's timing for hiking short-term interest rates, according to Marcus & Millichap.



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Costs Loom Large in Data Center Decisions

LOS ANGELES--A CBRE report cites Northern Virginia, Colorado Springs and a handful of other data center hubs as providing the most cost-effective options for occupiers.



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Wednesday, November 12, 2014

Gelt Expands Into New Markets and Tech Space

LOS ANGELES--The L.A.-based multifamily investor finds new opportunities in Salt Lake City, with plans to acquire up to 1,500 units, and develops an online leasing platform, GlobeSt.com reports in this EXCLUSIVE Q&A.



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44-Acre Business Campus Trades Hands

LOS ANGELES--A partnership between Shubin Nadal Realty Investors and DRA Advisors purchases the 856,000-square-foot Harman International Business Campus with plans to reposition the property into a creative office and retail park.



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Tuesday, November 11, 2014

Georgia Multifamily Trades for $30 Million

SANDY SPRINGS, GA--Oak Coast Properties and IMG report they have acquired the Legacy Key Apartments community here for $30 million, including costs, from DRA Advisors LLC.



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Limited Net Lease Supply Has Its Benefits

LOS ANGELES--In preparation for the New Lease West conference, American Realty Capital Properties' Mark Selman talks to reporter Kelsi Maree Borland about managing a net lease portfolio, and why he sees the limited supply as a positive.



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New Developer Finds Returns in Luxury Market

LOS ANGELES--In this EXCLUSIVE Q&A, Empire Property Group's Craig Berberian talks about the demand for high-end luxury multifamily, his New York-inspired urban design aesthetic and how he is pulling off favorable returns.



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Monday, November 10, 2014

True Religion HQs Comes to Town

MANHATTAN BEACH, CA--The jean designer set roots in Manhattan Beach with the signing of a 72,246-square-foot lease in a three-story, freestanding building that will be used for its corporate headquarters offices.



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Colony on Verge of $1.6B Industrial Buy: Reports

LOS ANGELES--The portfolio of nearly 300 light industrial properties spans 18 markets across the US, according to Commercial Mortgage Alert.



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A Scarcity of Legitimate Choices

NEWPORT BEACH, CA--GlobeSt.com EXCLUSIVELY chats with managing directors at Voit Real Estate Services on what the rest of 2014 and the start of 2015 will have in store for investors, owners, and operators of commercial properties.



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$46M Cal Poly Build Complete

POMONA, CA--C.W. Driver completes construction of the Bronco Recreation and Intramural Complex, a 126,000-square-foot student recreation center with LEED Silver certification.



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Friday, November 7, 2014

Net Lease Product In Limited Supply

LOS ANGELES--Stan Johnson's Craig Tomlinson talks to Kelsi Maree Borland about the challenges facing the net lease space and gives his predictions for next year, during this sneak peek of Net Lease West.



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How Pre-Underwriting Helped Berkadia Finance a $1.4B Sale

LOS ANGELES--When the buyers came calling, Berkadia had the debt piece nailed down, SVP Anthony Cinquini tells GlobeSt.com's Erika Morphy.



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Colony Shares Upgraded to Buy

LOS ANGELES--The company's 3Q14 earnings reports are above analysts' expectations, prompting the upgrade with estimation that shares will hit $27, up from $22.50, due to the combination of Colony Capital and Colony Financial, GlobeSt.com reports in this UPDATE to a previous story.



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Thursday, November 6, 2014

Class-A Apartment Build Secures $31M

VENTURA, CA--Ventura Heritage Corp. obtains the loan to cover a portion of the construction costs for the Island View Apartments, a class-A 154-unit multifamily complex.



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Wednesday, November 5, 2014

REITS Priced Out of Net Lease

LOS ANGELES--While preparing to speak at the upcoming Net Lease West conference in Downtown Los Angeles, CBRE's Maurice Nieman sits down to discuss the current net lease market and what his clients want.



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Lender Flexibility Crucial in $172M Loan Deal

LOS ANGELES--George Smith Partners' J. Jay Brooks credits lender flexibility in helping to secure the funds for a portfolio of 36 assets in litigation, GlobeSt.com reports in this UPDATE to a previous story.



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Colony Entities to Merge in $675M Deal

SANTA MONICA, CA--Leadership will include Thomas Barrack and Richard Saltzman, and the full management team of Colony Capital LLC would transition to the merged company, Colony Capital Inc.



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Millions of New Households Could Soon Form

SEATTLE--If the now doubled-up households divide, demand will pick up 'like a coiled spring' especially in places where rent has skyrocketed during the housing recovery like in California and Florida, sources say.



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1M-SF Industrial Center Breaks Ground

VALENCIA, CA--Developer IAC begins construction on the first phase of the IAC Commerce Center, which is a 400,000-square-foot industrial building on 70 acres.



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Tuesday, November 4, 2014

George Smith Raises $172M for Mixed National Portfolio

LOS ANGELES--The national portfolio includes assets in the 17 states.



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Panera Bread Expands L.A. Footprint

CULVER CITY, CA--The bakery and café signs its first lease in Culver City after five years of searching of a location that fits its unique criteria, GlobeSt.com reports in this EXCLUSIVE story.



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Barker Pacific Buys Office Building

WESTLAKE VILLAGE, CA--In partnership with Rockwood Capital, Baker buys Westlake Spectrum, a two-buildings class-A office property, which is occupied primarily by Securitas USA.



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Suburban Office Market Alive and Well

LOS ANGELES--How well is urban relocation working for the companies that have moved to CBDs? Find out in this EXCLUSIVE Q&A on the subject.



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Monday, November 3, 2014

Investors Need Be Aware of Crowdfunding Risks

LOS ANGELES--While preparing for the annual Crocker Symposium, attorney Paul Rutter discusses how crowdfunding is changing the CRE world, and what investors should do to evolve, in this EXCLUSIVE interview.



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CBRE HQ Takes CoreNet Global Innovator's Award

WASHINGTON, DC--The HQ was recognized for addressing 120 features in a variety of wellness categories...all focused on worker comfort, happiness, health and productivity.



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New Code May Cost Owners Today

LOS ANGELES--The new commissioning requirements instated under the California Building Energy Efficiency Standards are arguably the most impactful for commercial owners and developers, and although they will save in the long term, what happens today? Find out in this EXCLUSIVE Q&A on the subject.



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Equity Syndications Generate Near 8% Returns

LOS ANGELES--Realty Mogul scans 311 private placements totaling $5 billion in properties to bring professionals a tell-all 3Q14 report of real estate syndications space, GlobeSt.com reports in this EXCLUSIVE story.



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