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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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