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Thursday, December 31, 2015

Small Property Breaks Big Record

SANTA ANA, CA—A 6-unit multifamily property trades for a record-breaking $306 per square foot, Century Communities expands its unsecured credit facility to $300 million and CW Driver completes a $26-million renovation in this week’s wrap up of deals.



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Boutique Hotel Hits DTLA Historic Core

LOS ANGELES—International lifestyle group Hoxton buys the historic Los Angeles Transit Building for $30 million with plans to convert the property into a boutique hotel.



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Creative Tenants Head Downtown

LOS ANGELES—Design firm Ware Malcomb moves its headquarters to Downtown Los Angeles in what they call a “strategic move” to be in the center of commercial real estate activity.



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Wednesday, December 30, 2015

Residents Move to Stop Massive Developments

LOS ANGELES—The Coalition to Preserve L.A. is fighting massive development projects, and has proposed a ballot measure that will require developers to follow the general plan with no exemptions.



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How Newhall Ranch Affects Developers Now

LOS ANGELES—We sat down with Allen Matkins’ Fernando Villa for an EXCLUSIVE interview to find out how the Newhall Ranch decision is affecting developers today.



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How Newhall Ranch Affects Developers Now

LOS ANGELES—We sat down with Allen Matkins’ Fernando Villa for an EXCLUSIVE interview to find out how the Newhall Ranch decision is affecting developers today.



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Tuesday, December 29, 2015

Compton Gets 1M SF of New Industrial

COMPTON, CA—Trammell Crow Co. breaks ground on the Brickyard, a two-building, 1-million square-foot class-A industrial building in Compton.



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The Lowest Cap Rate Of the Year Is…

GLENDALE, CA—A private investor purchases a 43-unit property in Glendale at a 3.57%, the lowest cap rate paid for a multifamily property in Glendale in the last 12 months.



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Smart Money Heads to DTLB

LOS ANGELES—With rising rents in the South Bay and Orange County, Long Beach is the next submarket to see smart investors make-over the market, GlobeSt.com reports in this EXCLUSIVE story.



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Monday, December 28, 2015

Rexford 2015 Acquisitions Surpass $230M

LOS ANGELES—The industrial REIT continues its infill strategy this year, buying 20 high-quality investments for the year and adding 2 million square feet to its portfolio.



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Interwest Capital Picks Up Hilton

OSWEGO, OR—Interwest Capital Corp. buys a Hilton Garden Inn and taps Evolution Hospitality as the manager, CIP Real Estate secures a $24.1 million loan to refinance a business park and CIM Group completes construction of 9Seventy in this week’s wrap-up of deals.



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Newhall Ranch Could Help the L.A. River

LOS ANGELES—With major similarities between the two projects, the Newhall Ranch decision could ultimately help the L.A. River project avoid timely court battles, GlobeSt.com reports in this EXCLUSIVE Q&A.



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More Multifamily Supply Slated for 2016

LOS ANGELES—With the market hitting a peak, multifamily owners are recognizing that next year is the time to sell, according to Lee & Associates’ Cory Stehr and Cole Martens in this EXCLUSIVE interview.



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Thursday, December 24, 2015

Value-Add Investors Flock to Hollywood

LOS ANGELES—Value-add multifamily investors from outside of California are placing their capital in the reviving Hollywood market.



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Will Development Save the Real Estate Cycle?

LOS ANGELES—Cox, Castle & Nicholson hosts a roundtable to discuss the permitting process in Los Angeles and how the city can help facilitate development projects, GlobeSt.com reports EXCLUSIVELY.



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Wednesday, December 23, 2015

Where Do Millennials Live in Los Angeles?

LOS ANGELES—Downtown, Hollywood and Playa Vista are hotspots for the demographic, according to this map from JLL that shows millennials outnumber baby boomers by 10% in these markets.



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Fed’s Rate Hike Won’t Derail 2016

LOS ANGELES—According to Dekel Capital’s Shlomi Ronen, the Fed made the right decision in raising the interest rate, and he doesn’t except it to have a significant affect in the coming year, GlobeSt.com reports in this EXCLUSIVE story.



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Closer Look at Recent Climate Change Decisions

SAN DIEGO—In this EXCLUSIVE commentary, one source takes a closer look about two recent CA Supreme Court opinions on climate change and the California Environmental Quality Act.



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BH Properties Frees Up Borrowing Capacity

LOS ANGELES—The investor secures a total of $110 million for 17 properties in Arizona, Florida and California, freeing capital so that it can pursue opportunistic acquisitions, GlobeSt.com reports EXCLUSIVELY.



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Tuesday, December 22, 2015

Retail Investors Stick to Daily Needs Strategy

LOS ANGELES—Ares Management and Citivest Commercial Investments partner to buy the Downtown Novato Center and Temecula Town Center, two grocery-anchored retail centers.



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American Realty Scores Promenade Mixed-Use

SANTA MONICA, CA—The investor buys Citron on the Promenade, a retail, office and multifamily mixed-use property that was recently renovated and has a strong rent roll with high-performing tenants.



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Investor Takes Big Risk on State Street Buy

SANTA BARBARA, CA—A private investor buys a 46,813-square-foot retail store at a 5% cap rate and a tenant lease that rolls in three years for the high-barrier-to-entry State Street location, GlobeSt.com reports EXCLUSIVELY.



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Monday, December 21, 2015

MWest Opts for Bridge Loan Despite Rising Rates

LOS ANGELES—The investor secures a short-term $52 million loan through Mesa West for the acquisition of the Emerald Terrace Apartments after banks weren’t aggressive enough on pricing, GlobeSt.com reports in this UPDATE to a previous story.



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Kennedy Wilson Secures $475M Credit Facility

LOS ANGELES—Kennedy Wilson expands its credit facility, partnering with three new banks in the syndicate, and closes its previous $300 million credit facility.



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Entertainment Users Fuel Ultra-Low SFV Vacancy

LOS ANGELES—Entertainment users are migrating from the Hollywood market to the San Fernando Valley—helping to push the vacancy rates below 1% in the already tight market.



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Friday, December 18, 2015

Arena Joins Lendlease Americas Development Business

NEW YORK CITY—Lendlease appoints Alexa Arena as general manager of development west coast where she will be for leading and growing our development capabilities throughout the California market.



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Spec Industrial Build Lands in Sun Valley

LOS ANGELES—Xebec and Cornerstone break ground on a two-building, 361,038-square-foot industrial development on 15 acres of land it purchased in October.



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Thursday, December 17, 2015

DTLA’s Record-High Condo Prices Didn’t Last

LOS ANGELES—Condo prices are down 2% in Downtown Los Angeles after the sales efforts at the Metropolis helped push square-foot prices to record highs of $800 per square foot in October.



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How Will CRE React to the Fed Hike?

LOS ANGELES—The Fed’s nominal rate interested rate increase yesterday will reinforce confidence in the strength of the economy, says Lee & Associates CEO Jeff Rinkov in this EXCLUSIVE interview.



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Opposing Perspectives Drives Multifamily Activity

In part one of our four-part EXCLUSIVE analysis of the multifamily market, Capital One Multifamily’s Grace Huebscher weighs in on the hardening of divergent views on the market’s future.



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Banking on Apartments for the Long Term

LOS ANGELES—With young people graduating with debt and moving into apartments for longer periods of time, some don’t see homeownership as the American dream, which bodes well for apartments, Gelt’s Keith Wasserman tells GlobeSt.com EXCLUSIVELY.



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The Latest Example of Post-Recession Success

LOS ANGELES—Archway Holdings Corp. sells the renovated 9033 Wilshire for $75 million, $1,000 per square foot higher than the 2008 purchase price.



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Wednesday, December 16, 2015

Despite High Office Vacancy, Jobs Drive DTLA

LOS ANGELES—The office vacancy is 18.4% in Downtown Los Angeles, but with a jobs-to-residents ratio of 8 or 9 to 1, multifamily developers are still drawn to the market.



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Barker Pacific Forms Value-Add Joint Venture

Michael Barker: “We think the cycle is a bit long in the tooth, but we think the affordable range of multifamily is less susceptible to a severe downturn.”



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Bank of the West Expands in Pasadena

PASADENA, CA—Bank has just inked a deal for 5,000 square feet currently under construction at 595 East Colorado, along the Rose Parade route.



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No Standard for Evaluating GHG Impact

LOS ANGELES—A recent reversal on an EIR judgment regarding a residential-development project shows that analysis of GHG emissions’ impact on climate change is complex and can hinder deals and development, Miller Starr Regalia’s Arthur Coon tells GlobeSt.com EXCLUSIVELY.



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How Value-Add Competes With New Construction

LOS ANGELES—It’s all about rents, according to Joe Leon of JLL, who explains that rents for renovated older product can be $300 to $500 less than new construction, GlobeSt.com reports in this EXCLUSIVE story.



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Tuesday, December 15, 2015

DTLA Hospitality Ready for a Strong 2016

LOS ANGELES—Hotel RevPAR is up 7% for the year, according to the 3Q15 report from the DCBID, and Carol Schatz says that 2016 promises even more growth.



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Debunking Private Banking Misconceptions

LOS ANGELES—Brian Good of Eagle Group Finance sits down for an EXCLUSIVE interview to discuss the growth of private lending and why the stigma is old news.



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Why TruAmerica Continues Pacific NW Target

LOS ANGELES—In an UPDATE to a previous article, the firm’s senior managing director of acquisitions tells GlobeSt.com that Seattle and Portland demonstrate some of the best economic fundamentals in the country.



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Would You Buy This Building?

LOS ANGELES—In this EXCLUSIVE story, Kyle Kazan of Beach Front Properties reveals the shocking before-and-after photos of his latest value-add project adjacent to Downtown Los Angeles.



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Monday, December 14, 2015

Court Rules on CEQA Greenhouse Gas Guidelines

LOS ANGELES—In a court case about the 20-year ongoing Newhall Ranch development, a Supreme Court rules to change the method by which greenhouse gases are collected, GlobeSt.com reports in this EXCLUSIVE interview.



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Mwest Competes With 15 for K-Town Apartments

LOS ANGELES—The sale of Emerald Terrace Apartments had massive competition with 15 offers from a wide-range of buyers, which the seller’s team says isn’t unusual in this market, GlobeSt.com reports in this UPDATE to a previous story.



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Invest in Your Assets or Lose Tenants

LOS ANGELES—Owners who maintain their properties and provide the latest amenities will continue to attract Millennials; those who don’t do this risk losing them, Avison Young’s Chris Cooper tells GlobeSt.com EXCLUSIVELY.



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DTLA Office Rate Still Hovers at 18%

LOS ANGELES—According to the latest report from the DCBID, office vacancy in the submarket is dropping, but the report shows that it is still hovering in the high double-digits.



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Friday, December 11, 2015

Sares-Regis Fund Buys First Building

LOS ANGELES—The firm’s newly launched multifamily fund II buys the Vista Pointe Apartment Homes, a 216-unit multifamily property in Covina, GlobeSt.com reports in this UPDATE to a previous story.



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Developers Find Hurdles in Hollywood

LOS ANGELES—Hollywood is pushing a renaissance, but Champion Real Estate says that unclear zoning and a lengthy entitlement process is deterring the developers from making a mark.



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Why SoCal Money is Migrating South

SAN DIEGO—The investment market in Los Angeles and Orange County has become so fiercely competitive that investors seeking Southern California opportunities are naturally turning to San Diego, experts tell GlobeSt.com EXCLUSIVELY.



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Thursday, December 10, 2015

Leaders Back USC Real Estate Degree

LOS ANGELES—BH Properties makes a donation to the Price School of Public Policy to fund the school’s new undergraduate real estate development degree, GlobeSt.com reports in this EXCLUSIVE story.



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Multifamily Heats Up in Henderson

HENDERSON, NV—The Roxborough Group and the Bascom Group buy apartment complexes in Henderson, NV, MBK Rental Living plans a 208-unit apartment development, and an investor secures $38.8 million for the acquisition of the SeaTac Office Center in this week’s wrap-up of deals.



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Amenitized Buildings Flood into Koreatown

LOS ANGELES—Century West Partners is expanding K2LA into the largest and most amenitized apartment building in Koreatown.



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Wednesday, December 9, 2015

Wilshire Corridor Medical Office Has Extreme Value

LOS ANGELES—After funding a bridge loan for a Beverly Hills medical office building, Eagle Group Finance explains why the product type is so appealing in that market.



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Metropolis Celebrates Topping Off

LOS ANGELES—Developer Greenland USA lays the final piece of the first residential town at Metropolis, the highly anticipated $1 billion mixed-use development in Downtown Los Angeles.



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Ethika Launches $1B Diversified Fund

LOS ANGELES—Ethika Investments’ newest value-add fund is expected to attract $250 million in equity, which will be used to acquire $1 billion in real estate investments in 30 US markets.



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Why Does Stillwater Like West Covina?

NEWPORT BEACH, CA—The office sector in that region of L.A. pulls employees from several different markets including Orange County and the Inland Empire, John Drachman tells GlobeSt.com in this EXCLUSIVE story about a recent JV acquisition.



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Tuesday, December 8, 2015

Hollywood 2 Acres Fetch Record Price

LOS ANGELES—Champion Real Estate sells a 1.75-acre entitled Hollywood land site for $39.9 million, or $160,000 per door, a record land price in the submarket.



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Long Beach Shows Its Office Clout

LONG BEACH, CA—The city has all of the qualities office investors look for in a dense urban market—access to public transit, residential development, retail—and the rents are far below its South Bay rivals, GlobeSt.com reports in this EXCLUSIVE story.



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Futterman: We’re Fiercely Independent

NEW YORK CITY—In an EXCLUSIVE sit down with GlobeSt.com on site at ICSC’s national deal making conference, the founder of RKF talked about industry trends, the state of his firm and worked to put merger rumors to rest.



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’08 Crisis Attracted Foreign Capital

LOS ANGELES—Onni Group began investing in the US after the financial crisis, and plans to continue to place capital in the L.A. market, where it sees a wealth of multifamily and office opportunities, GlobeSt.com reports in this EXCLUSIVE story.



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Monday, December 7, 2015

Leaders Convene to Battle Vet Homelessness

LOS ANGELES—MWest’s Karl Slovin and TruAmerica’s Bob Hart ask landlords to donate units for the 5,000 homeless veterans on the streets in Los Angeles.



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Institutions Diversify into Office, Industrial

LOS ANGELES—Institutional Property Advisors expands into office and industrial to accommodate its SoCal institutional clients looking to diversify, GlobeSt.com reports in this UPDATE to a previous story.



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GSP: “Cycles Don’t Die From Old Age”

LOS ANGELES—From regulatory changes to economic volatility, George Smith Partners’ David Rifkind tells us what to expect from the capital markets in 2016 in this EXCLUSIVE interview.



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Friday, December 4, 2015

Arts & Culture, DTLA’s Next Big Driver

LOS ANGELES—With all of its other ducks in a row, the downtown market is now seeing an influx of arts and culture users—from museums to art galleries—leasing space in the market.



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Allen Matkins Shows Its Holiday Spirit

LOS ANGELES—The who’s who of CRE professionals in Los Angeles ring in the season at Allen Matkins’ annual holiday party.



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Watt Expands Westside Foothold

LOS ANGELES—The office investor spends $27 million on a value-add property, noting an increasing demand on the Westside for repositioned office product.



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Two Long-Lackluster Submarkets Find Their Upcycle

NEW YORK CITY—On the surface, there’s little commonality between Williamsburg, Brooklyn and the Arts District of Los Angeles. But look closer.



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Thursday, December 3, 2015

Luxury Single-Family Faces Oversupply

LOS ANGELES—The above $5 million single-family luxury market stalls due to dry demand and a glut of supply, but the sub $2 million market is strong, Nick Segal of the Partners Trust says in this EXCLUSIVE interview.



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Ocean West Shows Confidence in Long Beach

LOS ANGELES—The investor buys an office building for $35 million in the downtown area, and says it sees a strong emerging office market.



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Single-Family Sees Another REIT Merger

AGOURA HILLS, CA and SCOTTSDALE, AZ—The combination of American Homes 4 Rent and American Residential Properties Inc. will achieve greater density in AMH’s key markets, the company said in an investor presentation Thursday.



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Good Timing Drives CityView’s $141M Sale

LOS ANGELES—The investor completes its value-add business plan on four multifamily assets bought during the downturn, noting that it is prime time in the market to sell.



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Wednesday, December 2, 2015

MWest Continues Its Eastside Love Affair

LOS ANGELES—MWest’s purchase of the 302-unit Emerald Terrace Apartments in Koreatown shows that it is still bullish on the east side multifamily market.



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Single-Tenant Grocery Still Requires Due Diligence

LOS ANGELES—While grocery has become the single-tenant safety tenant, Chris Sands and Daniel Hoogesteger say that checking the back debt is still important before jumping in to an investment in this EXCLUSIVE interview.



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L.A. Is Onni’s US Market of Choice

LOS ANGELES—The Canadian-based developer is bullish on the Downtown Los Angeles market, GlobeSt.com reports in this UPDATE to a previous story on the investor’s purchase of 800 Wilshire.



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Tuesday, December 1, 2015

West Coast’s Fifty Under Forty

LOS ANGELES—Selected from a pool of more than 500, this year’s batch of west coast based young professionals truly represents the cream of the crop of the commercial real estate industry.



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200-Acre Tech Center Trades Online

EUGENE, OR—Auction.com sells the vacant Eugene Tech Center, General Atomics leases 112,000-square-feet of industrial space, and Bernards completes Santa Monica College in this week’s wrap-up of deals.



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Casino Drives Bell Garden’s Hospitality

LOS ANGELES—R.D. Olson Construction completes construction of the Bicycle Hotel and Casino, which was tailored to the casino users and the local community.



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Port Proposes Shift in Cargo “Free Time”

LONG BEACH, CA—The Port of Long Beach recommends changing cargo-unloading time from four-day periods to six shifts to speed delivery and increase availability to cargo owners.



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Monday, November 30, 2015

Primestor Likes Panorama Mall’s Hispanic Demographics

LOS ANGELES—In an off-market transaction, Primestor buys the Panorama Mall, following their business strategy of investing in Hispanic communities, where they say yields are better.



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Auto Is Rocking the Retail Market

LOS ANGELES—With widely strong auto sales making a big impact on the retail market, we sat down with Jodi V. Meade of Avison Young to find out about the niche sector in this EXCLUSIVE interview.



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DTLA Retail Trends Way Above Nation

LOS ANGELES—While national retail reports are showing flat or nominal sales for the third quarter, Downtown Los Angeles reports $2.8 billion in retail sales.



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Wednesday, November 25, 2015

USC Defeats UCLA in Annual CRE Challenge

LOS ANGELES—USC takes home the Silver Shovel award at the annual NAIOP Real Estate Challenge after presenting an urban park with housing, retail and hospitality for the former Hawthorne indoor shopping mall.



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Solving the “Dirty Secret” of Crowdfunding

LOS ANGELES—The crowd and institutional investors seem at odds, but in this EXCLUSIVE story, Patch of Land’s Jason Fritton, explains how he found a way for them to coexist.



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West Coast Based Emerging Leaders

LOS ANGELES—The following west coast-based individuals, who were recently featured in Real Estate Forum, show initiative and willingness to work hard—two of the traits necessary to be an emerging leader.



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Holding Through the Downturn

LOS ANGELES—Granite Peak purchased an industrial property in 2007 with a three-to-five-year business plan; eight years later, they are finally turning a profit.



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Tuesday, November 24, 2015

Grocery Rules Single-Tenant NNN

LOS ANGELES—Sands Investment Group sells four big-box grocery assets for nearly $50 million, showing that investors are willing to take on the risk of big box for a grocery tenant, GlobeSt.com reports EXCLUSIVELY.



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First, Find the Upleg

LOS ANGELES—With properties in the highly sought-after Koreatown neighborhood, the key to closing this complicated 1031 multifamily exchange, totaling $64.2 million, was to find the upleg first.



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Monday, November 23, 2015

RealtyMogul.com Shows Its Command of the Capital Stack

LOS ANGELES—For the first time, RealtyMogul.com completes a full capital stack transaction, combining debt and equity financing for the purchase of a 112-unit apartment complex.



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Blackstone Adds to Growing MF Holdings

NEW YORK CITY—The private equity giant has picked up a 16-propery portfolio with assets on the West Coast and in Florida.



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Looking for Growth? Go East, Young Developer

SAN BERNARDINO, CA—Because that’s where the Inland Empire holds the most expansion promise, according to the experts of Xceligent.



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Paragon, Canyon Bullish on Daily Needs Retail

LOS ANGELES—Paragon and Canyon Capital launch a second retail fund to invest $60 million to $100 million in daily needs retail product throughout California.



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Friday, November 20, 2015

Developer Finds the Environmental Win-Win

LOS ANGELES—The Ruth Group understands the importance of environmentally sustainable design, and found a way to accomplish it without an expensive LEED certification.



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The Largest Century City Lease in a Decade

LOS ANGELES—IPG signs an 11-year 150,000-square-foot office lease at the Plaza in Century City, becoming the largest tenant in the building with eight full floors and building signage.



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No Longer a Renting Stigma

LOS ANGELES—The idea that you can rent what you want for convenience and for quality has been more prolific, say multifamily experts.



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Thursday, November 19, 2015

Luxury Home Sales Spike Around L.A.

LOS ANGELES—Home sales increase 94% in the Pacific Palisades and nearly 50% in other Los Angeles luxury markets, but the average selling price has also declined.



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RealtyTrac: Average Earners May Be Priced Out of Zip Codes with Good Schools

IRVINE, CA—Los Angeles among most in unaffordable zip codes with good schools, while Chicago, Detroit and Miami among those with the most affordable.



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IRG Finalizes Pfizer Campus Sale-Partial Leaseback

PEARL RIVER, NY—The sale of the Pfizer campus here to Industrial Realty Group, LLC closed on Wednesday. The Los Angeles, CA-based company states its plan for the 200 acres it acquired will result in a “dynamic mixed-use, multi-tenant campus.”



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How Does Orange County Stack up Against L.A.?

SANTA ANA, CA—The two markets are behaving much alike in this phase of the upcycle, according to Xceligent analysts. But there are marked differences.



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Wednesday, November 18, 2015

Retail Pushes Forward Despite Flat Sales

LOS ANGELES—The 3Q15 retail report from Lee & Associates shows declining vacancies in major markets and strong investment activity, despite flat retail sales for the quarter.



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Metropolis Drives DTLA Condo Pricing Way Up

LOS ANGELES—The opening of Metropolis tower II, which released 514 condo units onto the market, shoots condo prices to $803 per square foot, the highest price ever.



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Tuesday, November 17, 2015

Demand Soars for Limited-Service Hotels

LOS ANGELES—A hotel developer buys a five-acre land site along the 101 corridor to build two limited-service hotels to benefit from the strong demand, GlobeSt.com reports EXCLUSIVELY.



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RealtyMogul.com Funds Brennan Deal in Houston

LOS ANGELES—The two-building flex portfolio marks the third transaction with Brennan Investment Group; RealtyMogul.com CEO Jilliene Helman cites Brennan’s “extensive experience investing in industrial properties.”



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Carter’s Bob Peterson Sees These Opportunities

ATLANTA—As chairman and CEO OF Carter, Bob Peterson has seen plenty of opportunities and challenges. Here's what he's seeing now.



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Has Long Beach Been Overlooked?

LOS ANGELES—Downtown Long Beach has a waterfront, public transit, great restaurants and residential development. It is a live-work-play environment in the making, and office investors are taking note.



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How Does Orange County Stack up Against L.A.?

SANTA ANA, CA—The two markets are behaving much alike in this phase of the upcycle, according to Xceligent analysts. But there are marked differences.



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Monday, November 16, 2015

DTLA Office Tenants Renew Years Early

LOS ANGELES—Although the downtown market is still seeing double-digit vacancy rates, some tenants are renewing office leases years early in anticipation of tightening vacancy rates and higher rents.



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So Many Buyers in Net Lease Space

LOS ANGELES—Whether it is 1031 capital, a small private investor, institutional money or a Chinese investor, panelists at RealShare Net Lease West say there is lots of money interested in the net lease space.



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More Interest in Build to Suits

LOS ANGELES—Speakers on the Town Hall Power Panel at RealShare Net Lease West say that build to suits are getting priced to incorporate some of the risk now more so than they had been years ago.



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Why Camden Vetoed a Locker System

LOS ANGELES—Camden Property Trust looked into a locker system for years before deciding to forego package delivery service at their multifamily properties, GlobeSt.com learns EXCLUSIVELY.



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Students Rejoice: Ramen Noodle Producer Expands in Meadows

CARLSTADT, NJ—Students who save a few shekels feasting on ramen noodles can rest easy about the noodle supply in Northern New Jersey. Sun Noodle, maker of custom-made, authentic Japanese-style ramen noodles and related products, has purchased a 42,000-square-foot industrial building at 40 Kero Road in Carlstadt.



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Can L.A. Be Too Successful?

LOS ANGELES—As it is apparently all over the nation, industrial is hot in L.A., so hot, in fact, that some developers and investors might be left out in the cold.



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Friday, November 13, 2015

Rents Push Retailers to the Fringe

LOS ANGELES—Retail tenants are leasing up fringe-street locations in markets like Beverly Hills and Santa Monica, a trend that typically happens in peak market conditions, GlobeSt.com reports EXCLUSIVELY.



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A Closer Look at Net Lease Investment

LOS ANGELES—Private investors should approach the risk adjusted returns the way they would approach a stock portfolio, said one panelist at RealShare Net Lease West on Thursday, in looking at private investors versus those who are IRR focused.



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Net Lease Panel: Is 2015 the New 2008?

LOS ANGELES—2015 is likely to exceed 2007 peak sales volume and panelists at this year’s RealShare Net Lease West conference say that in looking at CMBS, originations and underwriting stats, 2015 will be the new 2008.



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The Current Adds Roof, Nears Completion

LONG BEACH, CA—City leaders and developers gather to celebrate the “topping off” ceremony at the Current, Long Beach’s first new luxury apartment complex in decades.



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Thursday, November 12, 2015

Lincoln Sells 800 Wilshire Early

LOS ANGELES—Lincoln Property Co. completes its four-year redevelopment plan of the 227,000-square-foot office building in two years, and sells to the Onni Group.



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USC Launches Undergrad CRE Degree

LOS ANGELES—Commercial real estate has matured into its own investment class, and the future leaders need an interdisciplinary education to achieve success, according to the head of USC’s new undergrad program.



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Apply More Hotel Thinking to Multifamily

LOS ANGELES—Speakers at a recent event here encourage designers and developers to apply the attitude that you have one night to get it right on the multifamily side.



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Wednesday, November 11, 2015

How Are Retailers Adapting to Density?

LOS ANGELES—In response to increasing density, L.A. retailers are now opening multiple locations in a single submarket to capture market share and control the flow of traffic, GlobeSt.com reports in this EXCLUSIVE interview.



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People Want to Be in Hollywood

LOS ANGELES—Move over Downtown. Hollywood is experiencing its own renaissance and it is attracting employers and residents from all over the city, GlobeSt.com reports EXCLUSIVELY.



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Tuesday, November 10, 2015

Marcus & Millichap Creates Chief Administrative Position

LOS ANGELES—Gregory LaBerge is promoted to chief administrative officer, the Mission Square office building trades hands for nearly $40 million and a major retail center in Honolulu secures $39 million in financing in this week’s wrap-up of deals.



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Monday, November 9, 2015

Is Airbnb Affecting the L.A. Hotel Market?

LOS ANGELES—With massive development and rising revPAR in Los Angeles, the hotel market seems to be doing just fine, despite the fear of Airbnb, GlobeSt.com reports in this EXCLUSIVE story.



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Borrowers Hurry to Lock-In Financing

LOS ANGELES—Even borrowers without a stable cash flow are locking in long-term loans to avoid a possible rise in interest rates, GlobeSt.com reports EXCLUSIVELY.



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Lux Living Amenities Come to the Office

LOS ANGELES—With a new survey showing that employees are having trouble keeping up with the second shift, Caruso Affiliated launches a corporate concierge service in its office to help employees better balance work and life.



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Friday, November 6, 2015

Corp. Client Data Gets a Tech Boost

LOS ANGELES—JLL makes a significant investment in technology, and shows that market knowledge is taking a backseat to tech savvy, GlobeSt.com reports in this UPDATE to a previous story.



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SoCal’s Hot Office Market Hits Cerritos

CERRITOS, CA—With access to Orange County and Los Angeles, the mid-counties submarket is seeing the benefits of the SoCal office boom, GlobeSt.com reports in this EXCLUSIVE story.



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Thursday, November 5, 2015

Venture Capital Soars in L.A.

LOS ANGELES—By mid-year, the city saw $1.2 billion in venture capital placements, and the money is continuing to flood in, GlobeSt.com reports in this EXCLUSIVE Q&A.



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Drones Help CRE Reduce Costs, Add Flexibility

LOS ANGELES—With every advancement in software and hardware, we're able to disseminate information and messages more rapidly, more efficiently and more precisely, says one source in this EXCLUSIVE commentary on the subject of CRE technology.



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The Solution to the Package Problem

LOS ANGELES—Luxer One isn’t just installing lockers in buildings; the company’s technology platform is helping landlords solve the package problem—and occupancies are up as a result.



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Wednesday, November 4, 2015

Pressure Softens on Net Lease Cap Rates

LOS ANGELES—In this EXCLUSIVE Net Lease West sneak-peek interview, Gino Sabatini of W. P. Carey talks about the evolving net lease space and offers some critical advice to investors.



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Lifestyle Tenants Define DTLA Retail

LOS ANGELES—Three new leases at Level DTLA illustrate that landlords aren’t just taking any tenant—they are shaping the retail landscape in the downtown market.



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Tuesday, November 3, 2015

CBRE Loses Major Player

LOS ANGELES—Curtis Palmer joins ARA Newmark as the head of multihousing investment advisory in Southern California, citing the company’s “entrepreneurial” environment as a cause for the change.



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Build Apartments or Condos? That is the Question

LOS ANGELES—One of the major things to consider when looking at developing a condo or multifamily property, according to sources, is parking.



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Steadfast REIT Tops $1 Billion in Assets

CHICAGO—The CA-based trust has quickly assembled a massive portfolio of apartment units, most of which are in either the Midwest or the South.



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Life Cos. and CMBS Battle It Out

LOS ANGELES—CMBS wins a $42.7 million loan to refinance the Samaritan Medical Tower, but life companies gave strong competition for the deal.



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Monday, November 2, 2015

AssetAvenue Names New CEO

LOS ANGELES—The company’s co-founder David Manshoory steps down as CEO and names CIO Varun Pathria as his successor.



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New $300M Fund to Finance Energy Projects

LOS ANGELES—Fund includes custom program for IBEW/NECA Net Zero Plus energy solutions projects.



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DoE Revamps Asset Score As It Comes Out of Soft Launch

WASHINGTON, DC—The Energy Department is also in the process of putting together a Leadership Group for this next stage, Andrew Burr tells GlobeSt.com's Erika Morphy EXCLUSIVELY.



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100-Year-Old Mixed-Use Building in Financial District Trades for $78M

BOSTON—An affiliate of DLJ Real Estate Partners has acquired the storied 18 Tremont St. mixed-use building in the Financial District for $77.5 million from Equus Capital Partners, Ltd. of Yardley, PA. The deal calculates out to approximately $384-a-square-foot and was $28 million higher than the last time the building changed hands.



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Is the Bullet Train a $60B Fantasy?

LOS ANGELES—Maybe, according to Ben Reznik of Jeffer Mangels Butler & Mitchell, who talks about the issues with the project in this EXCLUSIVE story.



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Friday, October 30, 2015

Solving the “Dirty Secret” of Crowdfunding

LOS ANGELES—The crowd and institutional investors seem at odds, but in this EXCLUSIVE story, Patch of Land’s Jason Fritton, explains how he found a way for them to coexist.



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Office Market Pops In All Submarkets

LOS ANGELES—While 3Q15 reports are showing West L.A. as the clear leader, Colliers International’s Hans Mumper talks about L.A.’s other top office markets in this EXCLUSIVE interview.



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CRE Plays Ghostbusters on “Haunted” Project

LOS ANGELES—Architecture firm KFA reimagines a distressed but historic hospital, believed to be haunted, into a stunning affordable senior living community.



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Industry Leaders Worry About Class A Demand

LOS ANGELES—Speakers on the industry leaders panel at RealShare Apartments here last week say that there is no such thing as B or C quality apartments being constructed, therefore there are questions about the rental pool being diluted.



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Thursday, October 29, 2015

Students Prep for Annual NAIOP Competition

LOS ANGELES—The annual challenge that pits UCLA’s and USC’s future industry power players against each other has been behind a lot of great development projects.



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If You Aren’t Raising Money Online, You Will

LOS ANGELES—According to panelists on a special crowdfunding session at RealShare Apartments, start-ups will soon be more than just a popular alternative to traditional equity and debt offerings.



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Wednesday, October 28, 2015

Inside Freddie Mac’s Seismic Shift

LOS ANGELES—Freddie Mac changes its seismic map to stay competitive with Fannie Mae, and we talk to Partner’s Drew McCreery EXCLUSIVELY to get an inside look.



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TruAmerica Drops $102M in Salt Lake City

LOS ANGELES—The multifamily investor continues to find phenomenal deals in the Salt Lake City market, where only 10 to 12 apartment 100-plus-unit properties trade each year, GlobeSt.com reports EXCLUSIVELY.



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You’re Probably Asking the Wrong Questions

LOS ANGELES—Asking where we are in this cycle may be the wrong question, according to Stan Johnson’s Camille Renshaw, who talks about the metrics that are important to determining value and why investors should be shifting their portfolios in this EXCLUSIVE Net Lease West preview story.



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Low Interest Rates Hurt Some Developers

LOS ANGELES—Affordable developers are being squeezed out of the market, thanks to the low interest rate environment and ample capital chasing market-rate deals, Ofer Elitzur of Cox, Castle & Nicholson says in this EXCLUSIVE interview.



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Experts Review Risks of the New ‘Downtown’

LOS ANGELES—Panelists at RealShare Apartments last week talk downtown versus suburban risk, redevelopment versus new construction, and how the definition of Downtown is shifting.



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Tuesday, October 27, 2015

Ares, Kayne Anderson Cancel Merger

LOS ANGELES—A disagreement over how to proceed in view of the energy sector’s current volatility proved to be the deal-broker, the two alternative asset managers said Tuesday



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Transportation Bill Hinders City Planning

LOS ANGELES—While Congress finally nears approving a transportation bill, the delayed approval could mean disastrous impacts, according to Deonta Smith of IBISWorld.



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Emmett REIT Obtains $400M Loan

SANTA MONICA, CA—Douglas Emmett Inc. has secured and interest only loan and will pay off existing financing.



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Value-Add Investor Hits Inland Empire

MORENO VALLEY, CA—Bridge Investment Group buys the Reserve at Rancho Belago for $30 million, Sonnenblick-Eichner secures $49 million for a Hilton Gardens portfolio and a GSA spends $16 million on a downtown lease in this week’s wrap-up of deals.



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Monday, October 26, 2015

Yahoo, Riot Games Skew Office Absorption Numbers

LOS ANGELES—West L.A. shows the first negative signs of absorption in 12 quarters, but Colliers International’s Hans Mumper says the market is still the strongest in L.A., in this EXCLUSIVE story.



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DTLA Dethrones Class-A Office

LOS ANGELES—Class-B and class-C office buildings are emerging as the most expensive assets in the downtown market, Charles Dunn’s George Crawford explains in this EXCLUSIVE interview.



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‘Doesn’t Have to be Downtown, Has to Be Sexy’

LOS ANGELES—There is ‘urban core’ happening in the suburbs too, said one panelist on the investment panel at RealShare Apartments last week.



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Sunday, October 25, 2015

Help the Bascom Group Hit Its Goal

LOS ANGELES—The Bascom Group partners with the I Have A Dream Foundation and pledges to match up to $25,000 in donations at the RealShare Apartments Conference.



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Are There Value-Add Plays Left in Multifamily?

LOS ANGELES—Speakers on the brokerage panel at RealShare Apartments discuss value-add in multifamily, how the definition has dramatically changed and where things stand today in terms of opportunity.



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Saturday, October 24, 2015

GSEs Stay Bullish on MF Debt Market

LOS ANGELES—Although wage growth is a concern as it relates to rent increases, “we feel multifamily has plenty of legs left,” Freddie Mac’s Scott Croul told the RealShare Apartments audience Wednesday.



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Multifamily Development Future in Modular Form

LOS ANGELES—Labor was noted as one of the biggest challenges in construction cost for multifamily development at RealShare Apartments. Panelists discuss one possible solution to the problem—modular construction.



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Friday, October 23, 2015

Stop Saying “Technology” and “Sustainability

LOS ANGELES—At the CoreNet Global Summit, leaders at the economic developers roundtable said that those terms are so used often, they have lost all meaning.



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Apartment Boom Nears Its End

LOS ANGELES—According to a report from the UCLA Anderson School, homeownership will begin to rise and place a significant strain on the apartment boom by the end of 2016.



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Thursday, October 22, 2015

Multifamily Development Future in Modular Form

LOS ANGELES—Labor was noted as one of the biggest challenges in construction cost for multifamily development at RealShare Apartments. Panelists discuss one possible solution to the problem—modular construction.



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Multifamily Borrower Snags High LTV, Low Rate

LOS ANGELES—A multifamily borrower secures an 80% LTV loan to pay off acquisition financing on an apartment complex, underwriting at stabilized market rents with a 3.5% interest rate to make the deal happen, GlobeSt.com reports EXCLUSIVELY.



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Wellbeing Increases Employee Productivity

LOS ANGELES—Following a morning group yoga class at the CoreNet Global Summit, JLL’s Bernice Boucher talks about the link between employee wellbeing and engagement in an EXCLUSIVE interview.



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New York Life Paid $131M for Corporate Pointe

CULVER CITY, CA—While industrial-to-creative office conversions are in vogue in Culver City, institutional capital is still making major investments in the market, GlobeSt.com reports in this UPDATE to a previous story.



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Which Generation Is Really Driving the MF Market?

LOS ANGELES—There are a few undeniable forces in multifamily demand—the BabyBoomers, Echo Boomers and the Millennials. One source at RealShare Apartments says while the downsizing empty nester isn’t an imaginary trend, it certainly won’t change the world dramatically.



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$250M Is the New Benchmark for Griffin Fund

LOS ANGELES—Griffin Capital’s institutional access real estate fund now has more than $250 million of assets under management, less than 30 days after announcing its $200 million milestone.



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Wednesday, October 21, 2015

Is Multifamily Still the Darling?

LOS ANGELES—Find out this afternoon and all day tomorrow at RealShare Apartments, where top experts convene to discuss every angle of the market. Here, some of them give us an EXCLUSIVE sneak peek.



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Keep An Eye on Emerging Technology

LOS ANGELES—Are you prepared for 2018? At CoreNet Global’s annual summit Devin Fidler of the Institute for the Future, talks about the importance of looking ahead.



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Affordable Developers Get Preconstruction Break

LOS ANGELES—Los Angeles relaunches the New Generation Fund to help affordable developers finance lofty preconstruction expenses, and Ofer Elitzur of Cox, Castle & Nicholson says it’s a great idea in this EXCLUSIVE interview.



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Tuesday, October 20, 2015

Coretrust Gets $200M for Value-Add Office

LOS ANGELES—Hawkeye Partners chooses Coretrust for the Scout Program and will manage a $200 million fund Coretrust Value Fund I, focused on value-add office.



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The Power of Drone Data

LOS ANGELES—Drones are impacting commercial real estate in a major way, delivering data with site images, construction projects and building details, like cracks, water leaks and mudslides.



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Gen Z Wants More Tech

LOS ANGELES—Think Millennials are devoted to tech? Generation Z uses almost double the number of technology devices of its elder generation, and they will want office spaces to match, GlobeSt.com reports in this UPDATE to a previous story.



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Monday, October 19, 2015

High Leverage The Norm in this Market

LOS ANGELES—Massie Capital and Glenn & Shannon Dellimore secure 85% loan-to-cost financing for the purchase and renovation of the Gershwin Apartments, which is becoming the norm in this cycle.



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How to Curb Your Water Use

LOS ANGELES—In this EXCLUSIVE interview, Scott Harmon of Noesis explains how property owners can finance water-saving upgrades in their buildings.



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Westside Leads the Office Market

LOS ANGELES—Don’t be fooled by the Hollywood talk; the South Bay and Westside submarkets led the office market in the third quarter, according to the latest research from Cushman & Wakefield.



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Friday, October 16, 2015

Vintage Student Housing Still a Big Hit

LOS ANGELES—Although USC has several multifamily developments popping up, the Shrine, a six-property vintage student-housing portfolio in the area, gets double-digit offers.



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Industrial Tenants Need to Act Really Early

VERNON, CA—Xebec buys 12.6 acres of land in Vernon with plans to build a 203,000-square-foot industrial facility, and, while it doesn’t break ground until late November, tenants are already submitting proposals.



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US Manufacturing Resurgence Continues

LOS ANGELES—Technological advancements, protection of intellectual capital and efficiencies in the supply chain are causing manufacturers to rethink foreign production, Colliers’ Dwight Hotchkiss tells GlobeSt.com in this EXCLUSIVE interview about the on-shoring trend.



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DTLA Condo Prices Show Volatility

LOS ANGELES—After a year of continuous appreciation, condo prices in Downtown Los Angeles are beginning to waver, with prices dropping 2% in September. Could prices have reached a plateau?



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Thursday, October 15, 2015

New CEQA Guidelines for Tribal Cultural Resources

LOS ANGELES—Attention developers: CEQA Guidelines for tribal cultural resources have changed, and Michelle Hickey of Pircher, Nichols & Meeks explains what you need to know in this EXCLUSIVE interview.



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Lee & Associates Gains Foothold in UK

LOS ANGELES—The brokerage firm forms a strategic alliance with UK-based brokerage house Gerald Eve to service clients in Western Europe—all part of its ongoing expansion efforts.



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Millennials Are Old News

LOS ANGELES—We may be building for millennials today, but Gen Z, the following generation, is about to enter college, and they have a whole new set of culture traits.



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Wednesday, October 14, 2015

41-Acre Parcel Plucked for Residential Build

ORANGE COUNTY, CA—PulteGroup buys massive land site to build a single-family community for adults over 55, ETCO Homes opens 460 Palms and HFF secures $28 million in financing for a five-property apartment portfolio in this week’s wrap-up of deals.



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New For-Sale Housing Heads to Hollywood

LOS ANGELES—Now, Metro Investments and P. Joseph Development is building a boutique home community in accordance with the city’s small lot ordinance, touting the high demand for quality living in the booming submarket.



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In Hollywood, Multifamily Trails Office

LOS ANGELES—LaTerra Development and Gemdale USA plan a $125 million multifamily and office development to ride the wave of creative office success.



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Tuesday, October 13, 2015

How to Navigate the Approvals Process

WEST HOLLYWOOD, CA—After getting approval to build a 35-unit condo development on a residential street, Ness Holdings’ Daniel Mense explains the importance of working with the city, in this UPDATE to a previous story.



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Crowdfunding Shows Its Longstanding Potential

LOS ANGELES—Realty Mogul hits a $150 million investment milestone, and CEO Jilliene Helman says that she is looking toward a future where the number is in the billions.



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When Private Funds Go Institutional

LOS ANGELES—Beach Front Properties, a multifamily investment firm known for its microfunds, is taking the plunge into institutional waters, and here is why, GlobeSt.com reports EXCLUSIVELY.



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Monday, October 12, 2015

One Step Closer to the Opening of Metropolis

LOS ANGELES—Sales efforts begin on the highly anticipated 40-story, 514-unit second tower of Greenland USA’s $1 billion Metropolis development.



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Onni Scores Big Value-Add in South Bay

MANHATTAN BEACH, CA—Onni Group buys a 309,000-square-foot office building for $95 million with plans to renovate it into a premier office building that will compete in the active South Bay market.



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CEQA Actually Helps Push Office Pricing

LOS ANGELES—In this EXCLUSIVE interview, Greg Ames of Trammell Crow gives us an in-depth update on the office market, including values, development and occupancies.



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Friday, October 9, 2015

Will USC Village Revitalize the Submarket?

LOS ANGELES—Similar to the Staples Center catalyzing the downtown renaissance, the USC Village development will have a similar affect on the USC submarket, according to Avison Young’s Robert Ip in this EXCLUSIVE Q&A.



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Adaptive Reuse Grows in Arts District

LOS ANGELES—The new hub of Downtown Los Angeles, the arts district’s adaptive reuse follows a different trend than the rest of the downtown market.



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Carrying Large Inventories Is Thing of the Past

LOS ANGELES—Successful retailers are forced to become a lot more sophisticated and offer the utmost in customer service both online and in-store, says Avison Young’s Derrick Moore in this EXCLUSIVE article.



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WEHO Condo Prices Up 8% YOY

LOS ANGELES—Ness Holdings gets approval to build a 35-unit condo development in West Hollywood, just as demand for for-sale product is soaring.



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Thursday, October 8, 2015

Integrated Services Help Drive Business

LOS ANGELES—Wyn Channer, who has joined JLL as managing director, explains how a integrated asset portfolio helps drive business objectives in this EXCLUSIVE interview.



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What Is Driving Institutional Industrial Rates?

LOS ANGELES—The short answer is limited supply, but with fewer and fewer institutional owners in the market, the real answer is a lot more complex, GlobeSt.com reports in this EXCLUSIVE story.



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TruAmerica Scores Unbelievable Rates

LOS ANGELES—Thanks to its phenomenal reputation, the multifamily investor secures as low as 2.6% interest rates on an amalgam of acquisition loans totaling $156.8 million, GlobeSt.com reports in this EXCLUSIVE story.



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Wednesday, October 7, 2015

A New Model for Industrial Users

AZUZA, CA—While manufacturers are shrinking, Lagunitas Brewing Co. signs a 255,000-square-foot lease with a retail component onsite.



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LAX Submarket Sees Increasing Activity

LOS ANGELES—Hackman Capital Partners acquires a four-building 98,835-square-foot campus in the LAX submarket—which has seen a consistent increase in occupancy and rental rates.



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The Technologies Changing Construction

LOS ANGELES—Technology is removing inefficiencies from the building process, according to CW Driver’s Matthew Wilt, who explains how the industry is evolving in this EXCLUSIVE story.



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Tuesday, October 6, 2015

Latin American Investors Fuel $150M Fund

LOS ANGELES—Palisades Mexico Partners and Sergio Arg elles form a second fund to target core-plus and value-add suburban office after the success of its earlier fund.



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How Hungry Are Multifamily Investors?

LOS ANGELES—In this EXCLUSIVEQ&A, Marcus & Millichap’s John Sebree talks multifamily leaders’ view from the top and where the cycle is heading.



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$1B Public Housing Redevelopment Initiative Advances

BOSTON—The largest public housing development in the city is in line for a major upgrade and expansion.



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New York Life Buys Big In Culver City

LOS ANGELES—The institutional investment vehicle purchases 400 and 600 Corporate Plaza in Culver City to capitalize off of the growing office demand in the market.



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Monday, October 5, 2015

Long Beach Gets Its First Luxury Apartments

LONG BEACH, CA—The Current, a 223-unit luxury mixed-use complex, is coming to Downtown Long Beach, showing that demand for luxury living is picking up, GlobeSt.com reports in this EXCLUSIVE Q&A.



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Off Market Best Bet for Value-Add

LOS ANGELES—A rare 21-unit value-add apartment complex in Hancock Park trades hands in an off-market transaction, and the brokers still received a wealth of back-up offers.



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New Construction Homes Are a Hit in Silver Lake

LOS ANGELES—The once hipster neighborhood is seeing a high demand for new-construction for-sale homes, and the new SL70 development is filling the void, GlobeSt.com learns in this EXCLUSIVE interview.



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Friday, October 2, 2015

How Will Rising Rates Really Affect the Market?

LOS ANGELES—Not much, according to American Realty Advisors’ Chris Macke, who discusses why in this EXCLUSIVE interview.



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Urban Renaissance Group Comes to Denver

DENVER, CO—The investor forms a joint venture to purchase a $29 million office building in Denver, Suja juices signs a 171,000-square-foot lease and Timberland Town Center takes out a $23 million loan in this week’s wrap-up of deals.



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When Should You Pay a Defeasance?

LOS ANGELES—Pacific Hotels refinances a $153 million in debt, paying a defeasance to secure a lower rate—a move many borrowers are making because of the low interest rate environment.



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Thursday, October 1, 2015

Downtown Needs 125,000 Apartment Units

With 10,000 units under construction and several more thousand in the pipeline, Downtown Los Angeles still needs more housing to meet demand, Trammell Crow Co.’s Jim Anderson tells GlobeSt.com EXCLUSIVELY.



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West Los Angeles Owns Tech

LOS ANGELES—While Hollywood has signed some major tech leases recently, 86% of tech companies are in West Los Angeles, with Playa Vista as the emerging hub.



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Downtown Needs 125,000 Apartment Units

LOS ANGELES—Anyone over the age of 10 in Los Angeles is aware of the considerable multifamily development underway in the downtown market. There are currently 10,000 units, 2,000 of which are condo units, under construction and thousands more in the pipeline, but Jim Anderson, SVP at Trammell Crow Co., tells GlobeSt.com that those numbers are no where near enough to meet demand, noting that Mayor Eric Garcetti recently called for 125,000 new apartment units in…



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Macerich JVs with GIC, Heitman on 8 Malls

SANTA MONICA, CA—The shopping center owner expects to realize $2.3 billion in cash proceeds from the joint ventures, which will close in phases starting later this month.



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Trophy Retail Center Brings $147M

CHINO HILLS, CA—The Shoppes at Chino Hills is 96% leased to top national retailers.



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Health IT Firm Expands; Promises to Hire 1,000

WESTBOROUGH, MA—Health care IT company eClinicalWorks is expanding its operations here and is investing more than $50 million in the purchase and upgrade of the vacant 900 West Park Drive office building.



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The Building You Never Thought Could Be LEED

LOS ANGELES—The $110 million life science building at Loyola Marymount features a stunning glass façade and all-glass lab rooms and is poised to earn LEED certification.



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Wednesday, September 30, 2015

Kevin Shannon Hires Veteran to Help Hit $6B Goal

LOS ANGELES—Formerly the managing director of commercial investments at Kennedy Wilson, Rob Hannan joins CBRE’s Western US institutional investment team, GlobeSt.com reports EXCLUSIVELY.



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Mourning the Loss of Phillip R. Nicholson

LOS ANGELES—The Cox, Castle & Nicholson founder passes away, leaving behind his wife of 55 years, four daughters, seven grandchildren and a lasting legacy in the industry.



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Borrowers Love Early Rate Lock Programs

LOS ANGELES—The owners of Continental Park Terrace use an early rate lock program to secure a 3.5% interest rate on a $41 million refinancing loan, and more and more borrowers are following suit in this low interest rate environment.



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Tuesday, September 29, 2015

CBRE Names New Retail Vice Chair

NEW YORK CITY—The 22-year industry veteran has been representing national brands and landlords since joining the firm in 1994.



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Chinese Developer Heads to Hollywood

LOS ANGELES—In its first L.A. investment, Chinese developer Gemdale Properties and Investments partners with LaTerra Development to build a $125 million mixed-use complex in Hollywood.



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TruAmerica: Cycle Will Extend Longer Than Others

LOS ANGELES—While some investors say that the supply of value-add opportunities is limited at this point in the cycle, TruAmerica Multifamily says it will continue to see value-add opportunities for the next several years.



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Jamison Properties: L.A. Needs More Housing

LOS ANGELES—In this EXCLUSIVE Q&A, Jaime Lee of Jamison Properties talks about the company’s strategy and why it is getting into multifamily.



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Monday, September 28, 2015

Developers Push To Stay on the Frontier

LOS ANGELES—From technology-infused properties to architectural icons, today’s developments are not only progressive, they are aiming to change and evolve the way we work and live.



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LAX Office Property Values Climb

LOS ANGELES—Decron Properties sells Airport Spectrum, a 500,000-square-foot office property, in the largest LAX submarket office sale in more than a decade.



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Hotel Finance Vet Owens Joins CBRE

NEW YORK CITY—During his tenure with Ackman-Ziff, Owens arranged more than $1 billion in hospitality debt and equity transactions per year.



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Historical Trends in Southern California Industrial

NEWPORT BEACH, CA—With record-high lease rates, astounding positive absorption and the lowest vacancies on record, Southern California’s industrial sector is stronger than ever, Voit’s Jerry Holdner tells GlobeSt.com in this EXCLUSIVE look at the sector here.



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Sunday, September 27, 2015

AssetAvenue Hires Major Tech Leader

LOS ANGELES—Douglas Sellers joins AssetAvenue as chief technology officer, where he brings 15 years of experience at tech firms like Kumu Wellness and Good Worldwide to the firm.



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Vancouver Is Heavily Influenced by Chinese

LOS ANGELES—Vancouver is the gateway for Canada for Pacific Rim trade movement, said Mark Fieder, principal and CEOO of Canadian Operations of Avison Young here at a recent annual meeting.



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Friday, September 25, 2015

TruAmerica Ups the Ante with $225M Buy

LOS ANGELES—With no sign of slowing down, TruAmerica Multifamily buys a seven-property portfolio from Equus Capital Partners with plans to invest another $30 million in property improvements, according to the investor.



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Value-Add Investors Find Limited Options

CERRITOS, CA—Value-add properties are becoming a rare find in this market, so when this Cerritos value-add office property hit the market, investors lined up.



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Crowdfunder Targets Underserved Small-Commercial Market

LOS ANGELES—Patch of Land is expanding into the small commercial market, which is underserved, according to the company’s CEO and founder in this EXCLUSIVE interview.



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Economy Not at Maximum Sustainable Growth

LOS ANGELES—In this EXCLUSIVE interview, Nelson Rising of Rising Realty explains why he wasn’t surprised about the Fed’s decision not to raise interest rates and when he thinks it will happen.



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Using Tech Tools, Designed for Ease

As part of GlobeSt.com’s 15th anniversary, we chat with a few sources about how software and information technology have evolved tremendously over the past 15 years.



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Thursday, September 24, 2015

Griffin Capital Fund Exceeds $200M

LOS ANGELES—The Griffin Institutional Access Real Estate Fund sees increased investments because it offers a return of current income and capital appreciation, according to the company’s portfolio manager.



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Kilroy: We Saw 2010 As An Opportunity

LOS ANGELES—At the Allen Matkins View from the Top conference, John Kilroy reflects on the firm’s acquisitions during the downturn and gives an update on the company’s $1.5 billion in development projects.



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Grocery, Most Active Sector in Retail

LOS ANGELES—Discount grocer Grocery Outlet Bargain Market will open 14 stores in Los Angeles December 2015 through 2016 as part of the company’s massive expansion.



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Wednesday, September 23, 2015

Even Tough Deals Have Lender Options

LOS ANGELES—Zelman Development Co. secures a $57 million loan to recapitalize the Century Business Center and buyout its partner, and with multiple lender options, the deal proves that there is lender competition for all deal types.



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Van Konynenburg: Volatility Is Our Friend

LOS ANGELES—At the Allen Matkins View from the Top conference, Eastdil Secured’s Michael Van Konynenburg gives a bright economic update, asserting that some volatility is good in this economy.



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What to Expect Next From Logistics

LOS ANGELES—Speed and service are king right now, and consumer behavior is more disruptive than ever, CBRE’s Adam Mullen tells GlobeSt.com in this EXCLUSIVE discussion with industrial experts on what lies ahead with logistics.



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Hollywood Park: 300-Acre Village

LOS ANGELES—Wilson Meany executives talk about the vision and plan for the massive Hollywood Park development at the 8th annual Allen Matkins View from the Top conference.



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Tuesday, September 22, 2015

New Development Drives Creative Office Demand

HOLLYWOOD, CA— Creative and tech companies flock to Hollywood to take advantage of the major creative office developments; the most recent example is a long-term lease SIM Group signed at the Kodak campus.



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Hotel Demand Up in Silicon Beach

MARINA DEL REY, CA—The tech sector in Silicon Beach is driving hotel demand, according to Chatham Lodging, which purchased a Hilton Garden Inn in response to the growing market.



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A Conversation With NAIOP's Developer of the Year

CITY OF INDUSTRY, CA—Winning this award is ‘really an honor, but it’s simply a snapshot in time,’ Majestic Realty Co.’s CEO Ed Roski tells GlobeSt.com in this EXCLUSIVE Q&A.



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Townhome Development On Fire

LOS ANGELES—Storm Properties acquires a vacant land site to build 32 for-sale townhomes, one of many townhome developments breaking ground throughout the city.



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CA, Eighth Largest Economy in the World

LOS ANGELES—Avison Young’s Chris Cooper talks L.A.’s economic drivers—entertainment, international trade, aerospace & defense, professional services and technology—at the firm’s annual meeting.



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What’s So Great About West Coast Retail?

IRVINE, CA—Buyers/investors are attracted to the West Coast because they are getting more bang for their buck, Sperry Van Ness’ Shari Tucker tells GlobeSt.com in this EXCLUSIVE post-ICSC look at the sector here.



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Monday, September 21, 2015

Dornin Sheds Assets at Market Peak

LOS ANGELES—Driven by the top market conditions, Dornin Investment Group sells two multifamily properties in Los Angeles and one performing note, GlobeSt.com reports EXCLUSIVELY.



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Condo-Entitled Complex Trades for $62M

MALIBU, CA—Pacific Eagle buys a 68-unit luxury apartment complex, which is entitled for condo conversion, at one of the best cap rates in Los Angeles County.



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A Look into Avison Young’s Growth Plans

LOS ANGELES—GlobeSt.com attends Avison Young’s annual meeting, where CEO Mark Rose tells us that in five-year increments, the firm looks to grow in the major and secondary markets in which its clients operate.



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DTLA Investment Will Grow for the Next Decade

LOS ANGELES—Downtown Los Angeles is poised for growth for the next 10 to 15 years, according to Jeffrey Kanne of National Real Estate Advisors in this EXCLUSIVE story.



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Friday, September 18, 2015

Compton Needs Affordable Housing for Seniors

COMPTON, CA—Meta Housing opens Metro @ Compton Senior Apartments, a 75-unit development that will help supply the markets high senior population.



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Non-Land-Lease Offices Rare in Cerritos

CERRITOS, CA—Most of Cerritos’ office space is on a 70- to 80-year land lease, so when this non-land-lease property came to market, investors were willing to pay a premium.



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JV Formed to Advance Vegas-to-LA Railway

LOS ANGELES—China Railway International U.S.A. CO., and XpressWest expect to begin construction by year's end on a Nevada - California high-speed system.



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Lucky Tenants Finds 200,000SF Industrial Build

LA MIRADA, CA—Looking to double its industrial facility, Giant Bicycle signs a lease at one of the few available 200,000-square-foot facilities in the mid-counties market.



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Taking Air out of the Balloon Isn’t a Bad Thing

LOS ANGELES—GlobeSt.com was in attendance at Avison Young’s annual meeting on Thursday, where CEO Mark Rose told us that choppiness in the financial markets could serve to reset expectations.



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Thursday, September 17, 2015

The Abbey Co. Lands $310M Loan

LOS ANGELES—The investor will use the funds from the bridge loan to refinance existing debt on a 34-property office and retail portfolio, with $30 million remaining for property improvements.



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Limoneira Names Master Planned Partner

VENTURA, CA—Lewis Group pays Limoneira $20 million for a 50% partnership in Santa Paula Gateway, a master planned community that will bring 1,500 homes to Ventura County, GlobeSt.com reports in this UPDATE to a previous story.



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Logistics’ Continuing Impact on Industrial

LOS ANGELES—Where companies locate, how they leverage different-sized facilities and how inventory is held back from store shelves to reduce markdowns are just a few of the ways logistics will continue to shape the industrial sector, experts tell GlobeSt.com EXCLUSIVELY.



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Are EB-5s the Answer to Affordable Housing?

MIAMI—EB-5s have plenty of critics, but do the benefits on the affordable housing front drown them out?



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Transportation Drives DTLA Development

LOS ANGELES—In this EXCLUSIVE story, the Ratkovich Co.’s Clare DeBriere talks about the importance of a transportation infrastructure in Los Angeles.



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Wednesday, September 16, 2015

Colony Snags $200M Office Portfolio

LOS ANGELES—Colony Capital buys an 11-property portfolio, which includes Catalina Landing in Long Beach, from Bank of America.



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Retail Portfolio Trades for $59M

SEATTLE, WA—A 311,582-square-foot, three-property retail portfolio in Washington sells, Carmel Mountain Ranch Town Center secures a $30 million loan and Allison Simpson joins CBRE as Sales Director in this week’s wrap up of deals.



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What FASB Impacts Lease Accounting

MIAMI—“Property management should immediately conduct a strategic evaluation of the existing lease portfolio…”



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Tuesday, September 15, 2015

Rising Realty Pioneers Difficult Nabes

LOS ANGELES—Before the success of its PacMutual Building, Rising Realty Partners was one of the first to invest in the downtrodden Pershing Square market—just one example of the company’s longstanding bet on DTLA, GlobeSt.com reports in this EXCLUSIVE story.



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Hayman Spends Big in August

LOS ANGELES—The value-add investor acquires $53 million in the month of August of four office properties, bringing its total portfolio to $150 million.



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Creative Office Reno Fetches $52M

EL SEGUNDO, CA—AEW North America buys a 198,531-square-foot office property with plans to renovate and reposition it into a creative office space.



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Matthews Retail Advisors Redefines Expectations

LOS ANGELES—While Matthews Retail Group is busy re-launching as Matthews Retail Advisors, the firm’s chief marketing officer Eric Boyd proves that the brokerage firm hasn’t lost its homegrown philosophy in this EXCLUSIVE interview.



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Monday, September 14, 2015

Limoneira Plans 1,500-Home Master Plan

VENTURA, CA—Limoneira secures entitlements to build a 1,500 home master plan community on its citrus and avocado farm in Santa Paula.



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Playa del Oro Enters Leasing Phase

LOS ANGELES—Bernards completes construction on second phase of the 405-unit mixed-use complex, which is now in the lease-up phase.



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Turner Impact Launches $1B School Fund

LOS ANGELES—The social-impact investor launches its second charter school fund with Andre Agassi to build 130 charter schools nationwide by 2020.



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Friday, September 11, 2015

High-Tech Multifamily Gets Big Results

WEST COVINA, CA—The Colony at the Lakes, the city’s first multifamily development in 30 years, features high-tech living spaces powered by a mobile phone, GlobeSt.com reports in this UPDATE to a previous story.



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Kilroy Set to Raise $400M in Public Offering

LOS ANGELES—The developer prices 4.375% senior unsecured notes with plans to use the net proceeds to refinance 5% senior notes due this year.



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First Multifamily Build in 30 Years Opens

WEST COVINA, CA—Lennar Multifamily completes construction and launches leasing efforts of the Colony at the Lakes, a 450-unit apartment development—the first to hit the market in decades.



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CBRE: Expect Top Rents in Top Tech Markets

NEW YORK CITY—New industry research shows that the nation's 30 leading technology markets—chief among those being New York City—are showing a significant aggregate average asking rent premium.



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Thursday, September 10, 2015

Rising Realty Sheds PacMutual for $200M

LOS ANGELES—After renovating and stabilizing the historic downtown office building, the investor sells the property to a joint venture between Ivanhoé Cambridge and Callahan Capital Properties.



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Challenges of Managing A High-Profile Property

SANTA MONICA, CA—CBM Group details the challenges to managing a high-profile retail property after becoming the new property manager for the Converse store on the Third Street Promenade.



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Multifamily Values Climb to All-Time Highs

COVINA, CA—Vista Pointe, a 216-unit apartment complex, trades hands for one of the highest per-unit prices ever achieved in the Covina market.



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Wednesday, September 9, 2015

Developers Scramble to Scoop Unentitled Land

LOS ANGELES—With demand for housing options high, Storm Properties buys an unentitled land site in the South Bay with plans to build for-sale single-family homes.



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Coretrust Capital Makes Big Move

LOS ANGELES—The firm hires Robert Morgan as its chief financial officer and moves its headquarters to Downtown Los Angeles.



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Net Lease Is Great Return for REITs in Particular

LOS ANGELES—According to one source in this EXCLUSIVE Q&A on net lease activity, net lease allows REITs to get a significant amount of capital out the door, secure a blended mix of returns and gain presence across many markets.



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CIM Group Makes Waves in Hollywood

LOS ANGELES—The investor sells its high-profile 87,000-square-foot office tower in the midst of the Hollywood office development boom.



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Tuesday, September 8, 2015

Apartments in Poway Area Fetch $41M

SAN DIEGO, CA—An affiliate of Urban Residential buys the Summerlyn Apartments in the highly desirable Poway neighborhood, New York Life funds $35 million financing for a retail center and CBRE gains SVP Bob Savage in this week’s wrap-up of deals.



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Chinese Economy May Boost US Investment

LOS ANGELES—In this EXCLUSIVE interview, Dekel Capital’s Shlomi Ronen talks China’s economy, the potential interest rate increase and where the economy is headed.



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‘Much More Than a Rebrand’ for MRG

EL SEGUNDO, CA—Matthews Retail Group is rebranding as Matthews Retail Advisors, complete with an operational restructuring to expand into additional CRE services, the firm’s Eric Boyd and Kyle Matthews tell GlobeSt.com in this EXCLUSIVE interview.



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Creative Office Rents Climb High

PLAYA VISTA, CA—Advertising firm the Phelps Group signs a long-term 30,000-square-foot office lease valued at $16 million, showing a steep rise in rents over the past six months, GlobeSt.com reports EXCLUSIVELY.



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Friday, September 4, 2015

Gehry Unveils Sunset Strip Build Designs

LOS ANGELES—The architect unveils the design for Townscape Partners’ Sunset Strip mixed-use development, a five-building property with multifamily, retail and entertainment.



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Tenants Already Touring Herald Examiner

LOS ANGELES—Developers have only just announced plans to renovate the historic downtown building, but tenants are already showing interest, GlobeSt.com reports in this UPDATE to an earlier story.



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Apartments Get $31M to Go Condo

LOS ANGELES—Thanks to the recovered economy, AMI Real Estate converts Universal Lofts into a condo development and secures a $31 million loan refinance the property, GlobeSt.com reports EXCLUSIVELY.



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Thursday, September 3, 2015

More Mixed-Use Builds Come to South Park

LOS ANGELES—Forest City hires Suffolk Construction to build two multifamily mixed-use projects in Downtown Los Angeles totaling 391 units and 15,000 square feet of retail.



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Microfund Slated to Earn 19% Return

LOS ANGELES—Beach Front Properties closes its Beach Front Vintage 2014 Fund, its 23rd microfund, which it expects will generate 19% returns.



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Physicians Group Buys Office Complex for Nearly $117M

WALTHAM, MA—American Realty Advisors of Glendale, CA has sold a nearly 295,000-square-foot three-building office complex here for $116.7 million to the building’s largest tenant—the Massachusetts General Physicians Organization.



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JV Goes to Work on The Herald Examiner

LOS ANGELES—The Georgetown Co. and the Hearst Corp. partner up to transform the historic Herald Examiner building into a creative office, retail and restaurant space.



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Wednesday, September 2, 2015

Value-Add, Condo-Mapped Building Flies

LOS ANGELES—A new Jersey-based developer sells a condo-mapped apartment building for $23 million with plans to overhaul to the property, adding new countertops, flooring, appliances and amenities.



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Retail Impacts Perception of Mixed-Use Builds

LOS ANGELES—At the Bloc , a mixed-use development in Downtown Los Angeles, retail was the smallest economic investment, but National Real Estate Advisors’ Jeff Kanne says that it greatly impacts perception.



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L.A. Opera Scores Discounted DTLA Industrial Rent

LOS ANGELES—While rates across sectors are skyrocketing in the downtown market, this company signs a 27,500-square-foot industrial lease just outside of the arts district and saves $1.50 per square foot.



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Tuesday, September 1, 2015

When Property Management Enhances Value

LOS ANGELES—Asset management is the key to a successful property manager, explains Passco Co.’s Todd Siegel in this EXCLUSIVE interview, because it looks at the life of the investment rather than just the day-to-day operations.



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South Bay Needs For-Sale Homes

LOS ANGELES—Brandywine Homes begins construction on Brighton, a community of 60 single-family for-sale homes in Carson, a severely underserved housing community.



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Bank Regulations May Increase Competition

LOS ANGELES—Private and balance sheet lenders gain a larger market share as bank regulations increase, according to Calmwater Capital’s Larry Grantham in this EXCLUSIVE interview on the banking regulatory environment.



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Can You Keep a Secret?

LOS ANGELES—Most CRE deals begin with a letter of intent spelling out the principal terms of the deal whereby the seller usually requires the buyer to agree to keep anything learned about the property confidential. One source takes a closer look at how enforceable those agreements really are in this EXCLUSIVE column.



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Netflix Moves Into ICON at Sunset Bronson

LOS ANGELES—The movie subscription service signs a 200,000-square-foot lease, the largest Hollywood lease to date, at the $200 million office development from Hudson Pacific Properties.



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Monday, August 31, 2015

Neighborhood Inspires Hotel Design

LOS ANGELES—Burbank’s rich entertainment history serves as inspiration for the design and amenities of the recently opened SpringHill Suites by Marriott, GlobeSt.com reports in this UPDATE to a previous story.



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StarPoint Breaks Into Santa Monica

SANTA MONICA—After a three-year search for a property in the very high-barrier-to-entry market, the investor scoops up a 38,000-square-foot property with big renovation plans, GlobeSt.com reports EXCLUSIVELY.



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Foreign Investors Flocking to Boston, Gateway US Cities

BOSTON—Foreign investment has been fueling significant commercial real estate acquisitions and developments so far this year in major US cities. With the Chinese economy slowing down, some expect that Far East investors may look to increase their funding allocations to real estate ventures in the United States.



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Complex Industrial Sale Stirs Interest

LOS ANGELES—The sale of an 111,000-square-foot industrial building closes after an 11-month escrow, the effect of a 1031 exchange, and then a long-term tenant is signed.



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Friday, August 28, 2015

Westfield Century City Redo Plans Emerge

LOS ANGELES—The $800 million project will result in a new shopping experience with larger anchors, and the first 200 shops, new outdoor spaces and the West Coast's first Eataly.



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How to Fight Bad Faith Waste

THOUSAND OAKS, CA—In this EXCLUSIVE Q&A, James C. Fedalen of HFL Law Group talks about bad faith waste, and how lenders can recoup losses to damaged properties.



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Investors Bet on Runway in 2010

PLAYA VISTA, CA—During the height of the recession, Lincoln Property Co. bet on its Playa Vista mixed-use project, and now, the investor wishes it bought more, GlobeSt.com reports in this UPDATE to a previous story.



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Two Home Depot Net Leased Properties in MA, CA Trade

WATERTOWN, MA—Eastern Real Estate has sold the triple net leased Home Depot store here while a triple net leased Home Depot store in Seaside, CA also changed hands.



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Oakwood JV Buys in High Walkability Nabe

LOS ANGELES—A joint venture between Oakwood Worldwide and Mapletree Group buys a 60-unit apartment complex in Miracle Mile, because of the neighborhood’s high walkability score of 92.



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Private Capital Encourages Investors to Place Money in MF

CENTURY CITY, CA—There is a high demand for metropolitan multifamily properties that is outpacing the current supply, says Charles Dunn’s Janet Neman in this EXCLUSIVE interview about the current state of the multifamily market.



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Thursday, August 27, 2015

No Short-Term Effect of Devalued Yuan

LOS ANGELES—In this UPDATE to a previous story, JLL’s Barry Hill explains how China’s recent devaluation of the Yuan will affect cargo volumes at the Los Angeles and Long Beach ports.



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When Secondary Markets Catch Lender Attention

LOS ANGELES—Lowe Enterprises Investors funds a construction loan for the development of a Hampton Inn in Buellton, CA, which they say was a resilient market during the recession.



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Lee & Assoc. Nabs Former C&W Western President

LOS ANGELES—Joe M. Vargas, a former Cushman & Wakefield western region president, joins the brokerage firm’s Los Angeles as a national advisor, GlobeSt.com reports EXCLUSIVELY.



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Wednesday, August 26, 2015

Diamond Realty Plans $500M+ Capital Investment

LOS ANGELES—Now owned by Mitsubishi Corp., the once quiet investor is making a splash with plans to deploy $500 million in equity investments, the company’s president and CEO explains in this EXCLUSIVE interview.



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Office Units at The Bloc Fly

LOS ANGELES—Office space at the Ratkovich Co.’s Downtown L.A. mixed-use development the Bloc is already 60% leased months before opening.



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Runway’s First Residences Open to Major Success

PLAYA VISTA, CA—Only six weeks after opening, the first 100 units at Runway—a mixed-use development in Playa Vista—are already two-thirds leased.



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Tuesday, August 25, 2015

High GRM Portfolio Gets Multiple Offers

LOS ANGELES—With multifamily supply so tight, this two-property multifamily portfolio with an above average gross rent multiplier receives multiple competitive offers from buyers.



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Ports Rank Among Top Three Nationally

LOS ANGELES—According to the Seaports Outlook Report from JLL, the Los Angeles and Long Beach ports rank second and third nationally, after a 2.2% drop in cargo volume following recent supply chain disruptions.



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Going for the Gold in LA

BOSTON—The cities of Boston and Los Angeles have one thing more in common than flirting with the idea of being the host city for the 2024 Olympic Games. They both are the venues for one of the more coveted awards in the commercial real estate arena—CoreNet Global’s Global Innovators Awards.



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Monday, August 24, 2015

Fair Deals Still Exist for Big Box Industrial

CARSON, CA—A transportation provider renews a 60-month, 260,000-square-foot lease valued at a fair $10.5 million, proving that even with the tight supply for big-box product, tenants can still find a deal.



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Rexford Acquisitions Hit $142M

LOS ANGELES—Rexford adds two more industrial properties, bringing its year-to-date acquisition volume to $142 million, ACME signs a 10-year lease in Palm Dessert and Timothy Towe joins TwinRock partners as senior director in this week’s wrap-up of deals.



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Demand High in Luxury Condo Market

LOS ANGELES—Genton Property Group partners with the Four Seasons to build a 58-unit luxury condo property—including a penthouse suite priced at $50 million—for global ultra-high net worth customers looking to own in Los Angeles.



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DivcoWest Land Deal Puts Northpoint Project Back on Radar

CAMBRIDGE, MA—The planned mixed-use development on property known as Northpoint could break ground in the near future now that the 42-acre master planned parcel has been sold to San Francisco-based real estate investment and management firm DivcoWest.



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Stanton Road Buys St. Louis Deloitte Building

ST. LOUIS—The downtown market here has popped up on the radar screens of out-of-town investors.



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MWest Picks Up Iconic Hollywood Apartments

LOS ANGELES—The real estate investor buys the Hollywood Tower, a historic art deco building near Franklin Village, with plans to bring it back to its original glory.



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Friday, August 21, 2015

Campus Housing Finds Sustainable Edge

LOS ANGELES—Bernards completes the 131-bed Harvey Mudd College Residence Hall at Claremont Colleges to LEED-Silver certification standards.



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Lenders Hesitant About Special-Use Properties

LOS ANGELES—In this EXCLUSIVE interview, Brian Good of Eagle Group Finance talks about the difficulties financing special use properties and what borrowers can do to facilitate the funding.



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Buyer Pays Big to Enter Claremont Market

CLAREMONT, CA—Acquisition Group buys a 22,750-square-foot net-leased Sprouts Market at a low cap rate while paying off an existing loan, all to break into the high-barrier market.



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Multifamily Sales Prices to Continue Rising?

With the compressed supply in developed metropolitan areas, one source we spoke with in GlobeSt.com’s 15-year celebration articles says that things look good in multifamily for the foreseeable future.



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Thursday, August 20, 2015

DTLA’s South Park Nabe Gets New BID

LOS ANGELES—South Park Stakeholders Group, which overseas the South Park BID, launches South Park II in response to the development activity and growth in the market.



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ULI Names First Female Chair

LOS ANGELES—Bank of America Merrill Lynch’s Charmaine Atherton plans to focus on Southern California’s affordable housing crisis in her two-year term as chair.



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$80M Shopping Center Comes to El Segundo

EL SEGUNDO, CA—The Point brings 12 new retailers to El Segundo, a great move in the city’s effort to attract 100 new retailers before its 2017 centennial celebration.



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Wednesday, August 19, 2015

Condo-Style Office Is a Hit

LOS ANGELES—Elevon at Campus El Segundo sells 66% of its condo-style office spaces, and at this rate, the ownership is expecting to sell out by the end of the year—way ahead of schedule.



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12 Acres Sell at Valencia Commerce Center

LOS ANGELES—Logix Federal Credit Union buys the land parcel to build a new headquarters office, relocating its current offices from Burbank.



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BH Properties Completes $120M in Acquisitions

LOS ANGELES—The record quarter shows that value-add investors still have room to play and stay competitive in these peak-market conditions, BH Properties’ Steve Gozini explains in this EXCLUSIVE interview.



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Tuesday, August 18, 2015

Port Export Cargo Volumes Plummet

LOS ANGELES—While demand for industrial warehouse space is through the roof, a double-digit decrease in export cargo volume at the ports is leading to a dwindling demand for manufacturing space.



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One Santa Fe Leasing Reaches 90%

LOS ANGLES—In less than a year after opening, the arts district apartment complex reaches 90% occupancy—another illustration of the growing migration to the downtown market.



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Monday, August 17, 2015

Equity Firm Pays $53M for Oceanfront Office

PACIFIC PALISADES, CA—An unnamed national equity firm buys the 103,786-square-foot, three-building Sunset & PCH from a joint venture between Lincoln Property and Linwood Ventures in the very competitive transaction.



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L.A.’s Core Sees Dearth of Quality Product

LOS ANGELES—While north of Wilshire product continues to trade at an all-time premium, many investors have begun to balk at pricing for less-than-core assets, says one source in this EXCLUSIVE article.



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Mayor Broadens Earthquake Regulations

LOS ANGELES—In this EXCLUSIVE interview, Loryn Dunn Arkow of law firm Stroock & Stroock & Lavan talks about the mayor’s July announcement to broaden earthquake fault line regulations and how this affect new construction projects.



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Friday, August 14, 2015

Laramar Group Makes Major L.A. Investment

LOS ANGELES—The Chicago-based investor has purchased eight value-add multifamily properties in the Los Angeles market, and is not showing any signs of slowing down.



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NGKF Nabs Major Industry Leader

LOS ANGELES—A global corporate and commercial real estate leader and 25-year veteran, Lynn Kious joins the firm as senior managing director, GlobeSt.com reports EXCLUSIVELY.



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Report Reveals Lowe Enterprises’ Underperformance

LOS ANGELES—Although a popular real estate investment manager for institutional investors, Lowe Enterprises greatly under performs compared to its peers, a report from Unite Here shows.



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Thursday, August 13, 2015

Realty Mogul Secures Equity for Hotels

LOS ANGELES—The crowdfunding platform partners with sponsor Conor Acquisitions to provide equity capital for the purchase of two hotel properties in Missouri and Tennessee.



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Historic Building Stacks on LEED Certification

PASADENA, CA—The historic Pasadena City Chamber of Commerce building earns a LEED-Silver certification following a notable renovation.



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DTLA-Adjacent Nabes Poised for Growth

LOS ANGELES—The historic Wilshire Royal in the downtown-adjacent Westlake District trades hands for $32.5 million.



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Wednesday, August 12, 2015

Countdown: Three Years Left In This Cycle

LOS ANGELES—In this EXCLUSIVE video from Allen Matkins and the UCLA Anderson Forecast, industry experts talk about where we are in the cycle and what lies ahead.



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Medical Office Rents Climb High

SAN DIEGO, CA—CNL Healthcare buys two medical office properties in the supply-constrained San Diego Market, an apartment complex secures a $25 million cash-out refinance and Public Storage expands in Denver, in this week’s wrap-up of deals.



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The Unintended Impacts of Basel Accords

ATLANTA—KC Conway, credit risk manager and chief valuation officer at SunTrust Bank, has some valuable insights into this hot topic.



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Tishman Makes a Major Creative Office Move

EL SEGUNDO, CA—The developer buys a 260,000-square-foot single-story industrial building with plans to renovate and reposition it into a quality creative office space over the next few years.



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Tuesday, August 11, 2015

Target-Leased Retail Complex Flies Off Market

LOS ANGELES—Sixteen investors from every investment class scramble to purchase the Puente Hills East Shopping Center, which has an unusual Target ground lease.



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Rare True Value-Add Asset Trades for $106M

LONG BEACH, CA—The 59% leased World Trade Center building in Downtown Long Beach trades hands well below replacement cost—after generating interest from 100 investors.



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Monday, August 10, 2015

Office Has Strongest Absorption Since 2005

LOS ANGELES—The office market in Los Angeles absorbs 1.6 million square feet of office space in 2Q15, according to a report from PM Realty Group—and it looks like there’s more to come.



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Office Users Want Functional Outdoor Space

LOS ANGELES—As the creative office trend spreads, more users are requesting outdoor working environments, according to Jinger Tapia of design firm Ware Malcomb, in this EXCLUSIVE Q&A.



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South Bay Medical Office In Short Supply

LOS ANGELES—Due to the short supply and low vacancy rate for medical office in the South Bay, when something comes to market—like this Manhattan Beach property that sold for more than $435 per square foot—investors scramble for the sale.



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Multifamily Activity Sparks Expansion at SL Residential

LOS ANGELES—The well-known residential builder hires Mark Montoya as VP of multifamily, an entirely new position at the firm. In this EXCLUSIVE Q&A, he tells us why the company is expanding and what we can expect.



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Wednesday, August 5, 2015

Will Congress Extend EB-5 Before it Expires?

LOS ANGELES—An EB-5 conference held here earlier this week focused on the importance of keeping the program a priority for lawmakers after they return from recess and before its expiration on September 30, proponents tell GlobeSt.com EXCLUSIVELY.



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CBRE Acquires PKF Consulting Canada

TORONTO—The firm specializes in Canadian hospitality and tourism industries. CBRE acquired its sibling US company in 2014.



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CBRE Discussing New $300M Loan Facility

LOS ANGELES—The company is in discussions with lenders about adding term loans in connection with a previously announced acquisition.



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Tuesday, August 4, 2015

CBRE Acquires PKF Consulting Canada

LOS ANGELES—Firm specializes in Canadian hospitality and tourism industries. CBRE acquired sibling US company in 2014.



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LA-Area Office Duo Sets High Mark for Auction.com

MANHATTAN BEACH, CA—The $96M sale of Manhattan Towers may be the highest sale price ever for a single property in an online auctions.



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CIT Closes OneWest Acquisition

NEW YORK CITY & PASADENA, CA— The combined company, CIT Group, has more than $65 billion in assets and more than $30 billion of deposits.



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AssetAvenue Names Peter Coleman CFO

LOS ANGELES—Coleman brings valuable combination of financial management, investment banking and fintech experience.



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Friday, July 31, 2015

DTLA Luxury Living Sees Leasing Surge

LOS ANGELES—Only 10 months after opening, the Emerson is 85% occupied and collecting some of the highest rents in the market. In this EXCLUSIVE interview, Related California’s Gino Canori talks about the strategy behind their success.



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Thursday, July 30, 2015

Retail in WeHo Is Having a Moment

LOS ANGELES—In this EXCLUSIVE interview, Charles Dunn Co.’s Sharona Javaheri talks West Hollywood retail, explaining what is driving the highly active market, rising rental rates and the challenges for retailers.



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Wednesday, July 29, 2015

Long Term Lease Inked for PCT Building

EL SEGUNDO, CA—Direct marketing firm Guthy-Renker is consolidating SoCal offices with a 90,000 square foot deal arranged by CBRE.



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Not Every Loan Deal Needs Speed

LOS ANGELES—Looking to get the best rate, the owners of the National City Bank Tower began the refinance process six months early, securing a 3.5% rate and avoiding an 18-basis-point rise in the 15-year treasury bill.



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Tuesday, July 28, 2015

RKF Promotes Five Brokers

NEW YORK CITY—The quintuplet of industry professionals has been made vice chairmen, marking the first time the retail firm has moved brokers into the position.



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Colliers Lands Major Office Management Deal

LOS ANGELES—Skyview Center, a 407,000-square-foot office building near LAX, names Colliers as its property manager, which plans to make the building more efficient and increase its NOI.



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Monday, July 27, 2015

Los Angeles Economy Is Finally Post-Recovery

LOS ANGELES—As part of GlobeSt.com’s 15-year anniversary celebration, we chatted with local sources about how the L.A. office market has fared, and what law has made a major impact on price per square foot construction.



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Liberty Properties Takes Big Box Off Market

FONTANA, CA—Liberty Properties buys a 410,000-square-foot building for $36.8 million, Prologis signs a 210,000-square-foot lease and Center Court Apartments lands $19.4 million for construction financing, in this week’s wrap-up of deals.



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ETCO Homes Condo Build Stuns at Preview

BEVERLY HILLS, CA—460 Palms, a 35-unit condo development, opens its doors for a preview event to show off the stunning interior units, which are already nearly sold out.



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Bridge Development Expands in L.A.

LOS ANGELES—After announcing 1 million square feet in spec construction, the developer hires Tom Ashcroft as SVP to manage entitlements and development of the company’s California assets.



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Friday, July 24, 2015

DreamWorks HQ Trades for $215M

LOS ANGELES—Griffin Capital plucks the five-building, 416,000-square-foot property from SunTrust Equity Funding, which purchased the property five months ago for $185 million.



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Ares and Kayne Anderson Initiate $113B Merger

LOS ANGELES—The two companies enter into a merger agreement to become the largest alternative asset manager with $113 billion in assets.



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Industrial Rehab Announced, Tenants Fall In

LOS ANGELES—Terreno Realty Corp. announces plans to renovate a three-building industrial property and pre-leases 74%—indicating the tight supply in the market.



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Thursday, July 23, 2015

Mayor Garcetti Commends Circa at Ground Breaking

LOS ANGELES—More than 150 people, including Mayor Eric Garcetti and councilmember Jose Huizar, attend the ground breaking of Circa, a $500 million mixed-use project in DTLA, GlobeSt.com reports in this UPDATE to a previous story.



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TruAmerica Strikes in PNW with $115M Buy

LOS ANGELES—The multifamily investor buys a five-property portfolio in Seattle and Portland from FPA Multifamily at a 40% discount to replacement cost.



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Appetite Strong for Workforce Housing

DOWNEY, CA—Several lenders compete to fund an $18.8 million acquisition loan for the Bascom Group’s recent purchase of a 112-unit value-add apartment complex, GlobeSt.com reports in this UPDATE to a previous story.



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Wednesday, July 22, 2015

Developers Hit Attainable Housing Markets

SYLMAR, CA—Presidio and Williams Homes break ground on Foothill 74, a community with 74 for-sale townhomes in the $300,000 price range.



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MOB Developers Opt for Adaptive Reuse

LOS ANGELES—Cox, Castle & Nicholson partner David Lari talks about his recent healthcare roundtable and what panelists say is driving the development of healthcare real estate in this EXCLUSIVE interview.



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CIT Deal for OneWest Clears Hurdles

NEW YORK CITY—Led by chairman and CEO John Thain, the combined company will have more than $65 billion in assets and more than $30 billion of deposits.



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$500M Mixed-Use Build Breaks Ground

LOS ANGELES—Today, a joint venture including Hankey Investment Co. and Jamison Services begins construction of Circa, a 1.6-million-square-foot mixed-use project in Downtown Los Angeles.



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Tuesday, July 21, 2015

Developer Secures $1.6M Per Unit Financing

SANTA MONICA, CA—A developer secures high per-unit first mortgage debt at 125% of the total construction cost for a nine-unit apartment complex.



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Speed Lands Rare Big Box Industrial

SANTA FE SPRINGS, CA—Custom Cos. signs a 63-month, 300,000-square-foot lease at a recently renovated industrial facility in Santa Fe Springs, negotiating and securing the lease in less than 60 days.



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Fifty City-Owned Assets on the Market

LOS ANGELES—Cushman & Wakefield is handling the sale of sale of land, leased fees, easements and air rights from CRA/LA, the successor to the city's Community Redevelopment Agency.



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Is Your Lease Financeable?

LOS ANGELES—If a lease is structured properly, the tenant’s interest under a lease can be pledged to a lender as collateral for a loan, say sources in this EXCLUSIVE commentary on the subject.



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Monday, July 20, 2015

LABC Names First Female Chair

LOS ANGELES—Nadine Watt, president of Watt Cos., will succeed Jacob Lipa as a chair on the Los Angeles Business Council, becoming the first woman to hold a seat on the board.



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Harbor Group Enters SoCal Retail Market

BEVERLY HILLS—In its first SoCal retail investment, the firm purchases a fully leased 14,000-square-foot retail property in Beverly Hills’ Golden Triangle for $40 million.



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Apple Hospitality Pays $103M for Three Hotels

RICHMOND, VA—Apple Hospitality REIT, Inc. reports it has closed on the acquisition of one hotel in Florida and two hotels in California for a combined purchase price of approximately $103 million.



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MacFarlane Partners Want $400M

LOS ANGELES—The developer is bringing its Park Fifth development to the market to look for a joint venture capital partner or to presell the would-be property before it breaks ground later this year.



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Friday, July 17, 2015

Downey Market Is An Investor Haven

DOWNEY, CA—The Bascom Group buys a 112-unit apartment complex in the submarket, saying that it offers everything from great job centers to proximity to the cultural centers of both L.A. and O.C.



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Creative Office Breaks Pricing Records

EL SEGUNDO, CA—Montana Avenue Capital Partners sells the Station, a 53,778-square-foot creative office property, for $31 million, or $580 per square foot—80% more than the last highest comp in the market.



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Lenders Competitive But Not Overreaching

LOS ANGELES—Although many lenders have been increasing leverage and offering concessions to stay competitive, Sagiv Rosano of Rosano Partners says that they are still adhering to core fundamentals.



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Cold Storage Bldgs. Ready for Center Stage

CHICAGO—Changes in eating habits, and the economic recovery, are fueling expansion, and these rarely-traded assets have started to attract more interest.



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Thursday, July 16, 2015

Value-Add Multifamily Fetches $44M

MORENO VALLEY, CA—Proving that value-add multifamily is experiencing its moment this cycle, the sale of the Broadstone Overlook attracted attention from 160 buyers before private investor MJW Properties won the bid.



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Greysteel Plans to Hit $100M+ in L.A.

LOS ANGELES—The East Coast-based brokerage and capital markets firm opens its first West Coast office in Los Angeles, with plans to achieve several $100 million in transactions.



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