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Friday, February 27, 2015

VCN Plans Mixed-Use Development

CULVER CITY, CA--After buying the Surfas Culinary District, the developer secures a $10 million loan to develop a 100,000-square-foot property on the site.



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American Realty Focuses on L.A. Industrial

LOS ANGELES--The institutional investor buys the Shoemaker Distribution Center because it is at the top of its competitive set, GlobeSt.com reports in this UPDATE to a previous story.



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University Tech Center Trades Hands

POMONA, CA--Buchanan Street Partners buy the 100,360-square-foot office campus from Invesco with plans to redevelop the common areas and outdoors space.



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Thursday, February 26, 2015

CBRE Expands Global Separate Accounts Business

LOS ANGELES--The firm's Global Investors group taps James Clifton-Brown to serve as chairman and Pieter Roozenboom to serve as executive director of the newly expanded platform.



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City Ventures Assembles Land for Development

GLENDORA, CA--The developer acquires the first of five land parcels, which total 8.76 acres, to build a 144-attached-townhome development.



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Multifamily Project Targets Artist Community

GLENDALE, CA--Meta Housing Corp. breaks ground on a $32 million affordable multifamily development that will target artists and families, creating an arts colony.



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Wednesday, February 25, 2015

Jewelry District Office Building Secures $23M

LOS ANGELES--Although the area's characteristic short-term leases make landing a lender difficult, a 153,000-square-foot office building secures a non-recourse CMBS loan with a 58% LTV.



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Servicon Systems Names New CEO

LOS ANGELES--Laurie Sewell takes the reins as president and CEO of the sustainable maintenance services firm, while Stacey Wong gets a promotion to director of sales.



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Partner Engineering Expands Investment Advisory Services

LOS ANGELES--The engineering, environmental and energy consulting firm buys Foresite Advisory Services and retains its principal and owner Marc Bourdages as technical director of the investment advisory group.



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Tuesday, February 24, 2015

USC Expands Lease, Gains Signage

LOS ANGELES--The university signs up for an additional 30,000 square feet in the building that houses the Marshall School of Business, bringing its total occupancy to 245,000 square feet and earning the school building signage.



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Campus-Style Setting Attracts Long-Term Users

EL SEGUNDO, CA--Industry Partners takes on the leasing efforts for Divco West's creative campus renovation of El Segundo Gateway, and is seeking long-term tenants for the new space, GlobeSt.com reports in this UPDATE to a previous story.



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Onward Breaks Into Indy Office Market

INDIANAPOLIS--The employment market has stabilized here, with strong activity from companies in the high tech, business services, healthcare and legal sectors.



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Competition Increases on B and C Product

LOS ANGELES--In preparation for his brokerage leadership panel discussion at the upcoming RealShare L.A., Sagiv Rosano talks with us about market trends, challenges and predictions.



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Monday, February 23, 2015

Competition Increases on B and C Product

LOS ANGELES--In preparation for his brokerage leadership panel discussion at the upcoming RealShare L.A., Sagiv Rosano talks with us about market trends, challenges and predictions.



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Anchor Tenant Lands on Broadway

LOS ANGELES--Planet Fitness signs a lease on Broadway in Downtown Los Angeles, becoming the largest anchor tenant to move in since Urban Outfitters.



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KTGY Names 55+Studio Director

LOS ANGELES--Due to increasing demand, the architecture firm expands its age-targeted platform 55+Studio and names Doug Ahlstrom as director, GlobeSt.com reports EXCLUISVELY .



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Creative Office Developer Heads to Arts District

LOS ANGELES--King's Arch buys a vacant six-story building in Downtown Los Angeles with plans to reposition it as creative office and retail space, driven by demand in the marketplace.



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Friday, February 20, 2015

Ethika Fund Makes Second L.A. Investment

PASADENA, CA--In its second L.A. investment, Ethika Investment's Diversified Opportunity Real Estate Fund allocates capital for the purchase of a rare institutional-quality office property, GlobeSt.com reports in this UPDATE to a previous story.



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Household Formation Rebounds: USC

LOS ANGELES--"People are again moving out and forming households," says Gary Painter, director of research at the USC Lusk Center for Real Estate.



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CBRE Global's Volume Up 55% Y-O-Y

LOS ANGELES--With $8.6 billion of capital available, "we are well-positioned to continue taking advantage of opportunities" across global markets in 2015, says CEO Matt Khourie.



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Top L.A. Executives Get Career Bump

LOS ANGELES--Three Savills Studley executives in the L.A. office--Corey Davidson, Laura Whelan and Matt Abney--hit their next career level with significant promotions.



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KBS REIT Sells KY Tower for $127 Million

LOUISVILLE--The CA-based trust bought the National City Tower for its strong, secure cash flow, not for capital appreciation.



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Thursday, February 19, 2015

Virgin Galactic Lands in Southern California

LOS ANGELES--The privately funded space exploration group leases a 150,000-square-foot facility to house and manufacture LauncherOne, a small satellite launch vehicle.



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Invesco Real Estate Scoops Shopping Center

COMPTON, CA--The Dallas-based institutional investor buys the second phase of the Gateway Towne Centre in a steeply competitive sale that drew multiple offers.



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Wednesday, February 18, 2015

Avison Young Welcomes New Managing Director

LOS ANGELES--Former DTZ regional managing director and principal Jonathan Larsen joins the firm as principal and managing director in the firm's West Los Angeles office.



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Bernards Reaps Benefits of Educational Development

LOS ANGELES--The renowned builder is chosen to construct two separate projects at Riverside City College and Crafton Hills College, which will cost a total of $36.7 million.



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Fifield Opens E2 in Suburban Evanston

CHICAGO--The new 356-unit development is part of a growing trend to bring to the suburbs the type of amenity-rich rental properties increasingly popular in downtown cores.



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Tuesday, February 17, 2015

Institutional Investors Strike in Playa Vista Market

PLAYA VISTA, CA--Playa Vista "the heart" of the Westside creative office market, thanks to recent leasing transactions from mid- to large-sized tenants and purchases from institutional investors.



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Avison Young Continues to Expand

TORONTO--Avison Young acquires Calgary-based property management firm Peregrin, adding 1 million square feet to the firm's global property management portfolio and 12 employees to its Calgary office.



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Retail Buyers Can Still Find Value Today

LOS ANGELES--Low inventory and high demand paves the way for higher prices, and with lending in full swing, 2015 will be a great year for retail property owners. But buying opportunities are still prevalent, say sources in this EXCLUSIVE Q&A.



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LB Experiencing "Unprecedented" Multifamily Growth

LONG BEACH, CA--In this EXCLUSIVE Q&A, Robert Stepp of Stepp Commercial talks about the impressive growth in the Long Beach multifamily market--which ended last year up nearly 40% over 2013.



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Friday, February 13, 2015

Bridge Loan Originations Volume Hits Record Numbers

LOS ANGELES--Genesis Capital, which provides bridge loans to investors of distressed single-family assets reports a 625% increase in loan origination volume last year.



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10-Acre Site Plucked for Industrial Build

CARSON, CA--An affiliate of KTR buys a 10-acre land site from a local distributor's real estate surplus, with plans to use the site as a land lease or a build-to-suit industrial development.



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Preparing for a Port Shutdown

LOS ANGELES--With the ports heading toward a shutdown after nine months of labor negotiations, we sat down with CBRE's Kurt Strasmann to talk about the potential effects a shutdown will have on the economic and industrial markets.



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Thursday, February 12, 2015

Investors Pay High Price in the Valley

ENCINO, CA--In an off-market transaction, a private investor offers $44 million, or $366,000 per unit, to IMT Capital to purchase a 120-unit apartment building, GlobeSt.com reports EXCLUSIVELY .



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Office Properties Are Rapidly Appreciating

LOS ANGELES--CIM Group sells an office property for $24 million after purchasing it in June 2013 for $14 million, an appreciation of 41% in less than two years.



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How Bank Downsizing Affects Owners

LOS ANGELES--The thought of impending vacant space doesn't have to be a nightmare for the ownership says one source in this EXCLUSIVE Q&A when talking about retail banking locations downsizing their space.



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The Historic Taft Building Unveils Major Reno

LOS ANGELES--KFA completes the renovation of the historic landmark into a creative office space, and sits down with us to talk about the design trends in creative office and the challenges of renovating historic buildings in this EXCLUSIVE Q&A.



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Wednesday, February 11, 2015

One Santa Fe Completes Residences

LOS ANGELES--The residential portion of this massive mixed-use development in Downtown Los Angeles is complete, with 55% of the building already leased.



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Industrial Portfolio Fetches $29M

LOS ANGELES--A three-building industrial portfolio totaling 343,413 square feet trades hands between KFG Investment Co. and Rexford Industrial.



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Hotel Assets Snag $96M in First Mortgage Debt

LOS ANGELES--Illustrating the complete return of hotel financing, three hotel properties in Arizona and Colorado secure the senior debt financing from Karlin Real Estate.



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Tuesday, February 10, 2015

Multi-Building Industrial Park Fetches $44M

CERRITOS, CA--Alere buys a 395,117-square-foot, seven-building industrial park from CBRE Global Investors for its prime submarket and 100% occupancy rating.



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NNN McDonalds Trades Below a 4% Cap Rate

LOS ANGELES--A private investor buys a McDonalds property from a partnership between Starpoint Commercial Properties & HRI Development at a historically low cap rate.



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Timeframe Dictates Haggen Grocery Buy

LOS ANGELES--After Haggen's massive purchase last week of 146 grocery stores, we talk to the legal team to get and inside look at the deal.



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Caruso Affiliated Names Head of Leasing

LOS ANGELES--Kloe Colacarro gets promoted to head of leasing at Caruso Affiliated, and will oversee the leasing efforts for its major property portfolio, including the Grove, the Americana at Brand and the Commons at Calabasas.



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Campus-Adjacent Retail Flies Off Market

LOS ANGELES--A private family investor acquires a shopping center locally known as 901 Bar & Grill near the USC Campus with possible redevelopment in sight.



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Monday, February 9, 2015

Industrial Users Flock North

LONG BEACH, CA--City Logistics and Transport signs a 104,000-square-foot lease in Long Beach for its headquarters offices and warehouse, relocating from Rancho Dominguez, CA.



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Laurus Spends $53M on Prime Office Product

PASADENA, CA--The investor buys a 163,194-square-foot class-A office building with plans to invest additional capital to update the common areas and building systems.



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Upward Trend of Urban Development to Continue

SAN DIEGO--In part one of this EXCLUSIVE two-part Q&A, GlobeSt.com chats with Rosano Partners president and founder on trends in both L.A. and San Diego, and what's on the company's radar for 2015.



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'Embrace Creating Opportunities for Yourself'

LOS ANGELES--Work hard to build a book of business and then work even harder to make your clients happy. So says this CRE young women professional in this EXCLUSIVE Q&A.



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Townhome Community Breaks Ground

OXNARD, CA--Tri Pointe Homes begins construction on the Westerlies, a community of 116 for-sale townhomes in the redevelopment downtown core of Oxnard.



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Friday, February 6, 2015

Haggen Buys 146 Grocery Stores

LOS ANGELES--The Pacific Northwest-based grocer expands its footprint along the West Coast with the acquisition of Vons, Pavilions, Albertsons and Safeway stores as part of a divestiture in the merger between Albertsons and Safeway.



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Howard Hughes Center Secures JV Equity

LOS ANGELES--The center secures funding to build a 375-unit multifamily development called the Village at Howard Hughes Center within the complex.



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JV Scoops Up Grocery-Anchored Retail Center

LOS ANGELES--A partnership between the Canyon Catalyst Fund and Paragon Commercial Group buys a 98,000-square-foot retail center on a high profile intersection.



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Thursday, February 5, 2015

Sustainable Funding Scarce in Affordable Housing

LOS ANGELES--Funding for affordable housing, seismic issues and density growth were among the discussion topics at the Land Use and Planning Summit.



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Beer Distributor Plucks Seven Acres

LOS ANGELES--Pacific Beverage buys the land parcel from Sares-Regis Group to build a 102,000-square-foot regional distribution center.



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Canada Still Rules Cross-Border Deals in US

LOS ANGELES--Even as sovereign wealth funds from overseas become more active here, Canadian buyers "should remain on the radar screens of American investors and owners," says CBRE Capital Markets' Chris Ludeman.



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Multi-Building Industrial Park Fetches $44M

CERRITOS, CA--Alere buys a 395,117-square-foot, seven-building industrial park from CBRE Global Investors for its prime submarket and 100% occupancy rating.



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Wednesday, February 4, 2015

NNN McDonalds Trades Below a 4% Cap Rate

LOS ANGELES--A private investor buys a McDonalds property from a partnership between Starpoint Commercial Properties & HRI Development at a historically low cap rate.



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BH Properties Names New CIO

LOS ANGELES--The Los Angeles-based investor promotes former EVP and general counsel Steven Jaffe to the position of chief investment officer and principal.



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Tuesday, February 3, 2015

JV Creates the World's Largest Hotel Asset Management Firm

LOS ANGELES--CHM and Warnick + Co. form CHMWarnick and become the world's largest hotel asset management company with a 54-property portfolio worth an estimated $8 billion.



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Luxury Condos Come to Market

BEVERLY HILLS, CA--ETCO Homes delivers its first phase of luxury condos at 460 Palm, a 35-unit single-level multifamily complex with individual units priced between $1.9 and $4.5 million.



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Brokers Need to Learn the Art of Adaptation

LOS ANGELES--After celebrating 50 years in the industry, CBRE broker Brent Howell shares his expertise on the ever-evolving market and how to survive in this industry, in this EXCLUSIVE Q&A.



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Four Experts on 2015 Real Estate Issues

CALIFORNIA--GlobeSt.com speaks EXCLUSIVELY with four California-based Voit managing directors to get their take on the macro and micro challenges and opportunities the real estate markets faces this year.



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Sears Announces More Primark Leases in NJ and CT

FREEHOLD, NJ--Sears Holdings Corp. announced two more lease transactions with European fashion retailer Primark at the Danbury Fair Mall in Danbury, CT and at the Freehold Raceway Mall here.



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$76M Hollywood Multifamily Build Opens

LOS ANGELES--Balfour Beatty Construction completes Sunset & Gordon, a 22-story luxury multifamily complex, and reduced the project's total construction cost from $98 million to $76.2 million.



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Sunday, February 1, 2015

Four Experts on 2015 Real Estate Issues

CALIFORNIA--GlobeSt.com speaks EXCLUSIVELY with four California-based Voit managing directors to get their take on the macro and micro challenges and opportunities the real estate markets faces this year.



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