Office Property Breaks Pricing Records

CARPINTERIA, CA—Montana Avenue Capital Partners buys an 118,394-square-foot office property for the highest price ever paid in the city, approximately $32.5 million.

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BH Properties Buys Former RadioShack Assets

LOS ANGELES—The investor buys 1.8 million square feet of industrial properties in California and Texas for $39.2 million in the former company’s chapter 11 asset sales.

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Lessons We Have Learned in Lending

LOS ANGELES—From Y2K to online shopping, past experience has taught lenders a thing or two about how to cope with potential adversity. Speakers at RealShare National Investment & Finance expounded on the subject.

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Where Does Industrial Stand Now?

LOS ANGELES—With vacancies approaching 0% in some markets, the industrial sector is hotter than ever. Speakers at RealShare National Investment & Finance weigh in on what to expect in this sector in the near future.

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Car Dealer Buys 10.5-Acre Development Site

LOS ANGELES—Sperling Nursery brings the land site to market un-priced, garnering nine offers and selling to a developer that plans to build a car dealership.

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This Secondary Location Has Higher In-Place Yields

CANOGA PARK, CA—The Verandas apartment complex sees high competition from investors looking to cash-in on higher in-place yields than apartment complexes in the nearby Warner Center.

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80s Classic: What’s Old is New (and Profitable) Again

ATLANTA—In this cycle some developers are looking back as they forge ahead. Find out why with insights from Resource Real Estate's Kevin Finkel.

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The New Role of Family Offices in Finance

LOS ANGELES—As competition among lenders continues to heat up, family offices are now participating in a variety of financing scenarios for potential borrowers, said speakers at RealShare National Investment & Finance.

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Mesa West Expands to Chicago

CHICAGO—The LA-based firm has been quite active in Chicago in the past six months, providing Sterling Bay with $220 million to refinance its 1KFulton project, and $68 million in mortgage debt for Prudential and GlenStar in their acquisition of 311 Monroe.

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Multifamily Rent Growth Accelerates

SANTA BARBARA, CA—As West Coast markets such as Portland, OR and San Francisco lead the way with double-digit year-over-year gains, Yardi predicts that rent growth will only intensify in the year’s second half.

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Bristol-Myers to Lease 208,000 SF at Cambridge Campus

CAMBRIDGE, MA—As part of a reorganization of its research and development operations, Bristol-Myers Squibb Co. announced plans to open a new research facility in Kendall Square here, as well as expand facilities in San Francisco and open a new facility in Connecticut.

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Surprising Amenities Attracting Renters

LOS ANGELES—In part two of this EXCLUSIVE Q&A with TruAmerica, we learn about a few key amenities that provide the biggest bang for the buck, and find out why interior renovations are all about details.

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Are You Positioned for the Next Downturn?

LOS ANGELES—Evaluating where we are in the cycle and whether we’re ready for another cyclical downturn is crucial to remaining above water when it hits, said speakers at RealShare National Investment & Finance.

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The Fix-and-Flip Market Is Back

LOS ANGELES—Thanks to a thriving single-family housing market, Remote Rehabs re-launches its fix-and-flip housing program, adding Phoenix, Indianapolis, and Toledo to the geographic markets.

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Del Amo Crossing Gets $35M Reno

TORRANCE, CA—After completing the purchase of the property last week, the Muller Co. begins a major repositioning of the office asset that will add medical office, retail and 52,000 square feet, GlobeSt.com reports in this UPDATE to a previous story.

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5 Ways to Wring More Value From CRE

ORLANDO—Private investors, listen up. CWS Capital Partners’ president has some keen advice for you.

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How Driverless Cars Could Impact Real Estate

LOS ANGELES—Driverless cars could affect everything from where gas stations are placed to how much parking is needed for a given property, Partner Engineering’s Joe Derhake said during RealShare National Investment & Finance.

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Atlanta Near Top of Green Building List

ATLANTA—With Atlanta hitting on all cylinders, it’s not surprise that the metro is ranking high on green commercial real estate. How does Atlanta compare?

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Apartments Fetch Nearly $1M Above Asking

BEVERLY HILLS, CA—A rare opportunity to acquire an apartment building in the Beverly Hills submarket leads to a bidding war, ending with the buyer paying well over the asking price.

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Foremost Invests in Retail Market

DIAMOND BAR, CA—The investor—which typically buys residential land—buys two value-add retail properties to expand its portfolio to income-producing assets.

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Howard Hughes Center Nabs 10 Offers

LOS ANGELES—Passco Cos. receive multiple competitive offers for the retail property before selling it for $111 million, GlobeSt.com reports in this UPDATE to a previous story.

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Not Every Deal Wins High Leverage

LOS ANGELES—With all of the capital in the market, lenders are getting more and more competitive—but Robert Hodge of Marcus & Millichap says that only a select few borrowers are getting high-leverage deals.

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Implementing Test Rehab Units Is Critical

LOS ANGELES—According to TruAmerica’s Lynn Owen, who GlobeSt.com EXCLUSIVELY chatted with, testing the market to find the sweet spot is key.

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The Swig Co. Brings Office Tenants to DTLA

LOS ANGELES—Five tenants sign leases at 617 W. 7th Street in Downtown Los Angeles bringing the occupancy of the creative office building to 88%.

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Del Amo Financial Center Nabs $62M

TORRANCE, CA—A joint venture between the Muller Co. and GreenOak Real Estate acquires the 367,000-square-foot complex with plans to reposition the property into a mixed-use complex called Del Amo Crossing.

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Restaurant Vacancies Hit Record Lows

SANTA MONICA, CA—Three new restaurant leases inked at Ocean Avenue South show that the demand for restaurants in Santa Monica is higher than ever, with retail vacancies reaching 2.8%.

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Creative Office Prices Begin to Soar

LOS ANGELES—The Souferian Group sells its newly renovated office property in the 3rd Street District for $556 per square foot, a total of $19.6 million, showing that pricing for all asset types is reaching toward record highs.

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Developers Battle Construction Labor Shortage

LOS ANGELES—The very high development volume across property types is leading to a shortage in quality labor and to rising costs, Lydia Tan of Bentall Kennedy, tells GlobeSt.com.

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Antelope Valley Area Plan Approved

LOS ANGELES—The Los Angeles County Board of Supervisors votes 4-1 to approve a new Antelope Valley Area Plan, which will rezone an unincorporated area of Los Angeles County to guide development and conservation.

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Westwood’s Average Per-Unit Prices Double

LOS ANGELES—Three student-housing properties in Westwood trade hands for $727,000 per unit, more than twice the median market sales price.

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Laurus Invests Another $30M at Howard Hughes

LOS ANGELES—After buying the massive retail property for $111 million last week, the Laurus Corp. announces plans to invest an additional $30 million in upgrades to the property, GlobeSt.com reports in this UPDATE to a previous story.

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Escalating Rents Drive Need for Affordable Housing

TORRANCE, CA—Meta Housing completes the Cabrillo Family Apartments, a 44-unit affordable housing complex, and with rising rents in the L.A. area, it is in urgent need.

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Hughes Center Promenade Brings $111M

LOS ANGELES—Local investment firm Laurus has acquired the 250,000 square foot West Side retail complex.

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DTLA Will See 14,000 Units in 5 Years

LOS ANGELES—Development in Downtown Los Angeles is stronger than ever, with 40 residential projects underway and several major retail and hotel projects, making downtown one of the country’s hottest markets.

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Construction Co. Commits to Commercial Market

LOS ANGELES—Allen Construction launches a new commercial construction division to strategically expand after several local construction companies shuttered.

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CA Developers: Affordable Housing Coming Your Way

LOS ANGELES, CA—California developers will feel extra pressure to include affordable housing in their projects, in light of a California Supreme Court decision issued Monday. Take a closer look at the implications in this EXCLUSIVE commentary on the subject.

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DealPoint Makes Massive Redevelopment Buy

LOS ANGELES—DealPoint Merrill buys a 223,614-square-foot, three-property portfolio in Illinois, New York and Texas, which includes a Walmart Super Center and an Albertson’s-anchored shopping center.

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American Realty Picks Up Two Industrial Buildings

STERLING, VA—American Realty Advisors has added a two-building industrial portfolio in Virginia totaling more than 450,000 square feet to its portfolio.

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Drought, A Major Issue for Developers

LOS ANGELES— “Without water, your project is dead,” according to panelists at NAIOP’s I.CON event last week, who discussed the regulatory environment.

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Local Banks Eschew HVCRE Regulations

LOS ANGELES—In this EXCLUSIVE Q&A, George Smith Partners’ Jonathan Lee talks about the local challenges surfacing from the newly rolled out HVCRE regulations.

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Airport Authority Brings 59-Acre Site to Market

BURBANK, CA—CBRE is marking the massive development site, which is ideal for a mixed-use project, on behalf of the Burbank Airport Authority.

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Infill Industrial Easier to Entitle

LOS ANGELES—At NAIOP’s I.CON event last week, industrial leaders discussed the benefits and challenges of industrial development in America’s cities.

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California Home Sales Soften in May

LOS ANGELES—Despite the 1.1% dip, the housing market momentum continues to be solid as the spring home-buying season marked higher year-over-year home sales and prices for the fourth straight month.

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MBK Invests In Townhome Market

GARDENA, CA—The homebuilder nears completion on a 60-unit townhome community to provide an alternative housing option for the high demand in and around the South Bay.

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Apartment Prices Hit Record Highs

ARCADIA, CA—A 16-unit apartment building trades hands for $431,250 per unit, the highest price ever paid in the Arcadia market, GlobeSt.com reports EXCLUSIVELY.

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This NNN Sale Makes Pricing History

THOUSAND OAKS, CA—A national development firm buys the single-tenant Orchard Supply Hardware retail property for $388 per square foot, one of the highest prices ever paid for a triple-net leased property in Southern California.

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New Lakers Facility Will Bolster Local CRE

EL SEGUNDO, CA—According the City of El Segundo, the newly announced Lakers facility at elevon will have some significant economic benefits, GlobeSt.com reports in this UPDATE to a previous story.

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When Do You Have the Discipline to Stop?

LOS ANGELES—Industrial power players at NAIOP’s I.CON event analyzed the first half of the year, saying that in an upward market like this, it is important to maintain discipline.

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Banks Prefer Rental Apartments Over Condos

LOS ANGELES—George Smith Partners completes three construction loans in the Koreatown submarket totaling $30.7 million for one for-rent property and two for-sale condo developments.

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Industrial Gets Creative Office Reno

REDONDO BEACH, CA—A local investor and developer buys one of the few remaining industrial properties with plans to convert it into a creative office space, and signs a tenant lease during escrow.

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Fast-Casual Restaurants Take Over Retail

LOS ANGELES—Kennedy Wilson completes three lease transactions with Jersey Mike’s Subs, illustrating the rise of fast-casual restaurant chains.

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GCEAR, Signature Finalize $3B Merger

EL SEGUNDO, CA—The additional scale of the combined company provides greater potential to execute “a value-enhancing liquidity event,” says Kevin Shields, the non-traded REIT’s chairman and CEO.

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DTLA Skyline Vacancy Among Highest in US

LOS ANGELES—According to a JLL report, downtown Los Angeles’ skyscrapers have the seventh lowest occupancy in the country, while Century City’s vacancy rate is shrinking.

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Seaports, Industrial’s Biggest Challenge

LOS ANGELES—At NAIOP’s I.CON event yesterday, industrial experts talked about issues in the industrial sector, saying that the seaports and the supply chain are the weakest links.

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Turner to Invest $1B in Workforce Housing

LOS ANGELES—Turner Impact Capital launches a multifamily fund with a business plan that proves affordable housing can produce healthy risk-adjusted returns.

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Thorofare Capital JV Focuses on Bridge Loans

LOS ANGELES—Thorofare Capital and DoubleLine Capital form a strategic partnership to underwrite and originate middle-market commercial real estate bridge loans.

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Early-Rate Lock Program Lands Investor $160M

LOS ANGELES—A private investor secures $160 million to refinance an eight-property apartment portfolio, securing the funds with aggressive pricing and rates through Fannie Mae, GlobeSt.com reports EXCLUSIVELY.

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Alhambra Place Signs First Tenants

ALHAMBRA, CA—The 140,000-square-foot retail development signs its first four tenants—a Blaze Fast-Fire’d Pizza, the Habit Burger Grill, Bank of the West and Maido—and the owners say interest is strong for the remainder of the space.

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Regency Pointe in Prince George’s County Trades for $56M

FORESTVILLE, MD—This is the Los Angeles-based the Turner Multifamily Impact Fund's first acquisition.

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PeerStreet Hires Major Players to Leadership Team

LOS ANGELES—Former Amazon product manager Brendan Kao and OneWest Bank senior banking executive Marc Heenan join PeerStreet, a crowdfunding platform for commercial real estate.

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Country Clubs More Difficult to Finance

LOS ANGELES—A joint venture secures $30 million in financing to purchase and renovate the Beverly Hills Country Club, but their lender, Bradford Allen and Security Benefit Life Insurance Co., didn’t see much competition for the deal.

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Hertz Nabs $417M Office Portfolio

LOS ANGELES—Hertz Investment Group completes its largest transaction to date with the purchase of a 3-million-square-foot, six-property office portfolio in the Southeast.

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Private Investors Rally for Flex Industrial

TORRANCE, CA—A four-building, 108,000-square-foot industrial flex property attracts 20 offers from private investors, thanks to the strong location and the potential for creative uses.

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Lakers Move Headquarters to Elevon

LOS ANGELES—The Lakers purchase a five-acre land parcel at the Elevon at Campus El Segundo to build a new headquarters facility.

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Lincoln Property Makes Burbank Office Play

BURBANK, CA—The investor buys the three-building Burbank Collection office property in Downtown Burbank with plans to transform the property into a creative office campus.

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Industrial Build-to-Suit Hedges Risk

LOS ANGELES—Geringer Capital nears completion on a 126,768-square-foot build-to-suit industrial facility, which the company opted to build with an in-place tenant despite the high industrial demand.

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Caruso Plants Rosewood Flag at Hotel Development

SANTA BARBARA, CA—Caruso Affiliated names Rosewood Hotels and Resorts as the hotel operator of its Miramar Beach hotel development, which is scheduled to open in 2018.

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Former Evergreen Solar HQ Trades for $36M

DEVENS, MA—Calare Properties and partner Hackman Capital Partners of Los Angeles report they have sold the former Evergreen Solar headquarters and manufacturing facility here for $36.05 million.

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Industrial Investor Bets on High Demand

LOS ANGELES—An industrial investor buys a 115,538-square-foot building with an expiring tenant lease, betting the tenant would renew due to the high demand. It paid off.

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Thorofare Capital JV Focuses on Bridge Loans

LOS ANGELES—Thorofare Capital and DoubleLine Capital form a strategic partnership to underwrite and originate middle-market commercial real estate bridge loans.

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Low-Density Apartments Win Big

LOS ANGELES—A 223-unit apartment building trades hands for $45.8 million, generating double digit offers from a wide-range of buyers.

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George Smith Gains Three New Partners

LOS ANGELES—George Smith Partners names Bryan Shaffer, Jonathan Lee and Shahin Yazdi as principals, the first new additions since 2013, GlobeSt.com reports EXCLUSIVELY.

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$200M ICON Office Tower Breaks Ground

LOS ANGELES—Hudson Pacific Properties breaks ground on the ICON creative office tower at Sunset Bronson Studios, adding to the ongoing Hollywood Renaissance.

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Resmark, Streetscape JV to Build Rockville Townhomes

ROCKVILLE, MD—A division of the Resmark Cos. and Streetscape Partners report they have formed a joint venture to develop a new townhome development at the master planned King Farm community here.

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City Needs More Multifamily Development

LOS ANGELES—In a Urban Land Institute breakfast, market experts Wendell Cox and Dowell Myers debate over the causes of unaffordability, but both agree: L.A. needs more multifamily development.

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Cresa Names New Chairman, CEO and COO

BOSTON—Commercial real estate advisory firm Cresa has announced a changing of the guard in its executive suite, naming Richard Rhodes as CEO, Matthew Feeney as its new chairman and Judi Hilton as COO.

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372-Unit Apartment Complex Fetches $50M

PORTLAND, OR—Canyon Creek Apartment complex trades hands, TruAmerica Multifamily enters the Utah market and Newcastle Partners find 8.2 acres in the Inland Empire for a new industrial build in this week’s wrap-up of deals.

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Wells Fargo Building Trades Hands

PASADENA, CA—A national investor picks up the institutional-quality asset to augment their portfolio in the Southern California market.

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Construction Begins on $60M Medical Center

PASADENA, CA—DPR Construction breaks ground on Shiners Hospital for Children, a state-of-the-art medical center opening in mid-2017.

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RICS Rallies Private Sector for Army Reserve

LOS ANGELES—After the Army Reserve facilities chief issued asked the private sector to help the government manage its assets, RICS immediately springs into action, GlobeSt.com reports in this UPDATE to a previous story.

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$55M Industrial Build Breaks Ground

EL MONTE, CA—The Magellan Group breaks ground on Magellan Gateway, a 500,000-square-foot industrial facility, and the first major industrial development project in the area since the recession.

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HFF Expands Investment Sales Team

LOS ANGELES—Todd Tydlaska joins the firm as a senior managing director and will focus on institutional investment sales in Los Angeles and growing the West Coast business.

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Fannie Mae Stays Competitive

LOS ANGELES—The owner of a 245-unit apartment complex takes advantage of the low interest-rate environment and secures a $30.8 million loan through Fannie Mae.

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