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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Monday, August 31, 2015
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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