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Friday, January 29, 2016

Values Are Heading Down

LOS ANGELES—Wall Street executives at ALIS say that they are starting to see a pull back from public investors and private investors will follow.



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Decron Makes $126M Investment in Suburbs

LOS ANGELES—The value-add investor buys a 391-unit multifamily portfolio in Thousand Oaks, where new development is nil and the opportunity to push rents is high.



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Competition Soars in Bridge Lending Market

LOS ANGELES—Thorofare Capital hits $54 million in bridge lending only four months after launching its recent fund, but the success is driven by their professional relationships, not an increased appetite for short-term financing.



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Thursday, January 28, 2016

The Peak Was in 3Q14

LOS ANGELES—At ALIS, Teague Hunter claims the peak hit in 2014, and now there is a gap between sellers and buyers, but not all of his fellow panelists agreed.



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Griffin Spends Nearly $2B in 2015

LOS ANGELES—The investment firm acquires 37 office and industrial properties totaling $1.7 billion last year.



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PKF Rebrands After CBRE Merger

LOS ANGELES—PKF adopts the CBRE Hotels name after merging with the company more than a year ago—but leaders say that the previous firm’s storied company culture isn’t going away.



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Wednesday, January 27, 2016

Hotel Market Hits Its Peak

LOS ANGELES—At the opening ceremony of ALIS, research experts say that the hotel market is at the peak, but that we should expect to stay at the peak for some time.



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Chinese Market Won’t Derail Industrial

LOS ANGELES—Industrial is poised for another strong year, with vacancy rates expected to decline further, according to the latest Allen Matkins and UCLA Anderson survey, which GlobeSt.com has obtained EXCLUSIVELY.



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Tuesday, January 26, 2016

$44M Paramount Project Gets Green Light

LOS ANGELES—The City of Paramount green lights a plan for a public-private partnership to transform Downtown Paramount into a regional shopping center.



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Monday, January 25, 2016

Industrial Cap Rates Headed Even Lower

LOS ANGELES—In a discussion about port activity and industrial real estate, experts at RealShare Industrial West said that cap rates will head into the 3% range.



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Jade Enterprises Picks Up Major Office Portfolio

LOS ANGELES—The investor buys five office traditional properties in West Los Angeles totaling 350,000 square feet, and notes the lack of traditional office space on the Westside.



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Hotel Portfolio Lands $236M CMBS

LOS ANGELES—Provenance Hotels secures the CMBS loan for a 1,072-room hotel portfolio in the Pacific Northwest and Tennessee, showing the market liquidity for hotel product.



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Friday, January 22, 2016

Lender Shows Its Love for Retail

SIMI VALLEY, CA—Tremont Realty provides a $65 million bridge loan to recapitalize a shopping center and closes in only one week due to the strength of the retail market.



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Are We Headed for Sustained Negative Growth?

LOS ANGELES—After showing off some successful deals from the last year, industrial experts on the Deals and Dealmakers panel at RealShare Industrial West took a moment to ponder the challenges in the year ahead. While most of them didn’t see a cliff in the future, like 2008, most did expect a slowdown in the year ahead. “I don’t think that we are going to fall off a cliff. I wouldn’t be surprised if we had…



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The Rams Give CRE a Boost

LOS ANGELES—The long-awaited arrival of the Rams will no doubt fuel commercial real estate and elevate the Inglewood market, GlobeSt.com reports in this EXCLUSIVE interview.



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Thursday, January 21, 2016

Industrial Remains Cautiously Bullish

LOS ANGELES—Industrial investors at yesterday’s RealShare Industrial conference haven’t ruled out the possibility of a slowdown or economic downturn.



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Lee & Assoc. Plants Roots in Tri-Cities Market

PASADENA, CA—Following the growing tri-cities business, the brokerage firm opens an office in the Pasadena market, GlobeSt.com reports EXCLUSIVELY.



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Younan Properties Produces 77% Returns

LOS ANGELES—The investor sells an office property in Simi Valley and produces a 77% return for its investors in only 16 months after the original purchase.



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Wednesday, January 20, 2016

Big Picture—What Could We See in 2016?

While there may be some domestic changes in 2016, continued foreign investment in US real estate seems almost assured, influenced heavily by economic and social instabilities abroad, say sources in this EXCLUSIVE commentary.



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What Can We Expect From Spec Office?

SAN DIEGO—Expectations on speculative-office development vary from market to market in Southern California, and each region has its challenges, experts tell GlobeSt.com in this EXCLUSIVE look at the sector.



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Bixby Scores Big on El Segundo Office

LOS ANGELES—The developer sells a creative office property for $49 million after investing a total of $25 million to buy and renovate the original building in 2013.



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Tuesday, January 19, 2016

Glendale Multifamily Prices Are Only Going Up

A multifamily property in Glendale sells nearly $2 million over asking with a 15-buyer bidding war—a sale that illustrates investor migration to the tri-cities market.



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TCA Unveils Mid-Century Design for Waterfront Project

LOS ANGELES—TCA’s Tim Mustard talks about his inspiration for the mid-century modern design of developer Legacy Partner’s Neptune Marina apartment development.



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Warner Plaza Trades in UPREIT

LOS ANGELES—Plaza International sells the retail center for $76.3 million to Retail Opportunity Investment Corp. in an UPREIT transaction.



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Friday, January 15, 2016

Jeff Bernards Leaves Family Construction Firm

LOS ANGELES—The construction veteran joins Sharpe Interior Systems as EVP, leaving his family-owned firm after more than 20 years.



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Rising Realty Launches DTLA Tech Campus

LOS ANGELES—Rising Realty’s Marc Gittleman talks about the firm’s decision to rebrand the Figueroa Courtyard as Park DTLA, the only office and tech campus in the downtown market, in this EXCLUSIVE interview.



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Multifamily Design Influences Residential

LOS ANGELES—The Osaka Residences, new single-family homes in Sawtelle Japantown, maximize density by building up, GlobeSt.com reports in this EXCLUSIVE interview.



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Thursday, January 14, 2016

Even Unentitled Land Sites Fly

LOS ANGELES—Influenced by the surge of luxury development in the market, Storm Properties buys and unentitled parcel in Van Nuys to build a community of 58 single-family homes.



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Brickman Buys Office-Multifamily Combo

SEATTLE, WA—Brickman spends $22.45 million on the mixed-use property in Pioneer Square, a massive industrial facility sells to an owner/user and TEG Hotels refinances a 581-unit hotel portfolio in this week’s wrap-up of deals.



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Lee & Associates Goes International

LOS ANGELES—The Los Angeles-based firm opens its first international office in Vancouver, Canada, GlobeSt.com reports EXCLUSIVELY.



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Wednesday, January 13, 2016

Inside High-end Creative Office

LOS ANGELES—HQ Creative Office spends an average of $350 per square foot on its small-box creative office redevelopment projects, and GlobeSt.com has an EXCLUSIVE look inside.



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20 to 40 Bidders Show Up for Industrial

LOS ANGELES—Sares-Regis’ Larry Lukanish talks EXCLUSIVELY about the biggest challenges facing industrial developers as he prepares for the RealShare Industrial West conference next week.



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Where is Spec-Office Development Strongest?

SOUTHERN CALIFORNIA—The economy has recovered to the point where cranes are in the sky in many areas of Southern California. GlobeSt.com speaks EXCLUSIVELY with several experts about which submarkets have the most spec-office development.



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Olympic Plaza Avoids Prepayment Penalty

LOS ANGELES—The owners of the 250,000-square-foot office building secure a $48 million loan with a rate lock program to avoid a prepayment penalty on its maturing CMBS and secure new funding before rates go up, GlobeSt.com reports EXCLUSIVELY.



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Tuesday, January 12, 2016

Playboy Mansion Comes to Market for $200M

LOS ANGELES—With a changing business strategy, Playboy brings its famed estate to market and plans to reinvest the proceeds into the company.



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Affordable Developer Scoops Koreatown Parcel

LOS ANGELES—West Hollywood Development Corp. beats market-rate developers to a prime development parcel in Koreatown, where it will build a 186-unit affordable housing complex, GlobeSt.com reports in this EXCLUSIVE story.



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Expect More DTLA Projects from Trumark Urban

LOS ANGELES—The developer of condo project Ten50, which is midway through production, is looking for more opportunities in the Downtown market—including creative office, GlobeSt.com reports EXCLUSIVELY.



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Monday, January 11, 2016

Intercontinental Makes Another Big Buy

LOS ANGELES—The firm partners with MG Properties Group to purchase the Carmel Hacienda Heights Apartments for $82 million, continuing its acquisition streak in Los Angeles, GlobeSt.com reports EXCLUSIVELY.



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Small-Box Creative Office Is Booming

LOS ANGELES—Developer HQ Creative is focusing on tailored creative office space from 8,000 to 30,000 square feet, and can hardly keep up with demand, GlobeSt.com reports in this EXCLUSIVE story.



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Apt. Rents Still Outpacing Wages

LOS ANGELES—The widening gap between wages and apartment rents as rent growth continues to outpace wage growth is one of the more interesting trends to watch in 2016, Avison Young’s Jay Maddox tells GlobeSt.com in this EXCLUSIVE preview to an upcoming event.



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Apt. Rent Growth Heads for Slowdown

SANTA BARBARA, CA—Minus the “froth of 2015,” multifamily rent gains in 2016 will outpace the eight-year average, “satisfying most property owners,” according to Yardi Matrix.



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NGKF Gets Superstar Kevin Shannon

LOS ANGELES—CBRE’s Kevin Shannon moves to Newmark Grubb Knight Frank as the West Coast president of capital markets along with 14 other capital markets professionals.



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Risk Tolerance Buoys Spec-Office Development

SAN DIEGO—Decisions on whether or not to go spec are based upon a host of factors including risk tolerance, Cruzan’s Stacy Meronoff tells GlobeSt.com EXCLUSIVELY in this look at the resurgence of spec-office development in SoCal.



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Friday, January 8, 2016

Burbank Becomes Creative Industrial Hotspot

BURBANK, CA—A joint venture partnership buys the 14-property Burbank Industrial Park for $56 million with plans to convert it into a creative industrial space that attracts media users.



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Venture Investment Bodes Well for Office Market

LOS ANGELES—The venture capital flooding into the Los Angeles market is a sign that the office market is set for another healthy year, GlobeSt.com reports EXCLUSIVELY.



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Demographics Are Changing Downtown

LONG BEACH, CA—Millennials are heading to the Downtown Long Beach submarket and spurring much of the increased investor interest, GlobeSt.com reports in this EXCLUSIVE interview.



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Thursday, January 7, 2016

Industrial Success Won’t Be Effortless in 2016

LOS ANGELES—In this EXCLUSIVE story, Don Ankeny of Westcore Properties, a speaker at the upcoming RealShare Industrial conference, says there is still runway left in the cycle for those willing to work for it.



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Warner Center Drives Multifamily in the Valley

LOS ANGELES—The Warner Center 2035 plan is the impetus behind TruAmerica Multifamily’s $163 million purchase of a Woodland Hills apartment complex, GlobeSt.com reports in this UPDATE to a previous story.



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Rare Hollywood Net Lease Asset Trades

LOS ANGELES—A New York-based investor buys a 40,000-square-foot net leased office property in the Hollywood Media District for $471 per square foot.



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Wednesday, January 6, 2016

Multifamily Investor Plucks Long Beach Gem

LONG BEACH—JB Matteson buys the Urban Village Apartments, a class-A 129-unit apartment complex north of the downtown submarket, for $42 million.



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Entertainment Remains Top Retail Trend in 2016

LOS ANGELES—Retail leaders talk about the retail trends and concerns we should expect to see in 2016 in this EXCLUSIVE story.



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Powerhouse Retail Team Comes to NGKF

SAN DIEGO—Eight professionals comprising the firm’s retail brokerage team join the brokerage in San Diego and Newport Beach, led by Pete Bethea here as executive managing director, GlobeSt.com learns.



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Brunelli Closes Leases for Dollar Tree, Wawa, Other NJ Tenants

OLD BRIDGE, NJ—R.J. Brunelli & Co. has completed a range of leases that will bring major retailers, automotive services, and medical and personal services to sites throughout New Jersey and other states.



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Office Market Picks Up at Yearend

LOS ANGELES—4Q15 was the best quarter of the year for the Los Angeles office market, which appears to be picking up steam as we head into 2016.



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Tuesday, January 5, 2016

LAX Industrial Market Gains Much-Needed Product

LOS ANGELES—A joint venture between Panattoni Development Co. and MetLife Real Estate Investors buys a land site to build a 149,040-square-foot industrial class-A property.



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TruAmerica Ends 2015 with $163M Buy

LOS ANGELES—TruAmerica Multifamily and Intercontinental Real Estate Corp. buy the Millennium in Woodland Hills, a 395-unit multifamily complex that was built in early 2015.



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Handpicked Buyers Ensure Certainty of Close

LOS ANGELES—A private investor sets up a plan to ensure certainty of close in the complicated sale of a credit-tenant shopping center.



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Monday, January 4, 2016

72% of Residents Support Limitations on Developers

LOS ANGELES—The president of the AIDs Healthcare Foundation talks about his recent poll results showing support for a ballot measure to restrict developers to the general plan, GlobeSt.com reports in this UPDATE to a previous story.



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2015, A Good Year for Industrial

LOS ANGELES—Rexford Industrial increases its portfolio by 21%, coming in just shy of its $250 million goal, with one final acquisition before the New Year.



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Rezoning Plan Helps Fuel Development

LONG BEACH—Long Beach’s rezoning plan, which decreases parking requirements and increases density in Downtown Long Beach, is helping to fuel the development and redevelopment activity in the submarket, GlobeSt.com reports EXCLUSIVELY.



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