Los Angeles
Auction.com to Auction Woolworth Building in Downtown LA
The historic Woolworth Building at 719-725 South Broadway in downtown Los Angeles will go up for auction on March 10, according to Auction.com.
Los Angeles Apartment Communities Trade Hands as M West Expands Portfolio
The local multifamily market has had a good start to 2014, with a number of deals taking place since the beginning of the year. Recently, real estate investment services firm announced that it had arranged the sale of a three-multifamily property portfolio in the Santa Monica submarket of Los Angeles. Additionally, M West Holdings recently announced the acquisition of a number of residential properties, expanding its multifamily portfolio in the Los Angeles market.
Rodeo Drive Retail Building Refinanced to the Tune of $120M
Mesa West has doled out $120 million in financing to ECA Capital for the recapitalization of 338-342 N. Rodeo Drive, a 20,700-square-foot retail building in the über-prestigious Golden Triangle area of Beverly Hills.
Inland Empire Power Center Trades Hand in $49 Million Deal Arranged by HFF
An Inland Empire retail property traded hands recently, with Holiday Fenoglio Fowler announcing that it had closed a deal for an asset located in Jurupa Valley. The leading provider of commercial real estate and capital markets services completed the acquisition of the Vernola Marketplace by a joint venture consisting of Rockwood Capital, Equity One, Inc. and Vestar, three high-profile real estate companies in the U.S. The JV paid a fee of $49 million for the shopping venue.
Kilroy Buys Hollywood Parcel for $300M M-U Project
Kilroy Realty Corp. has acquired a nearly four-acre parcel near the renowned intersection of Sunset and Vine from AMPAS in a $46 million deal, with plans to transform the site into a mixed-use development at a cost of $250 million to $300 million.
Kennedy Wilson is New Owner of Victory Plaza and Multifamily Site in North Hollywood After Purchasing $30 Million of Debt
Kennedy Wilson, an international real estate investment and services firm, recently expanded its retail portfolio with a Los Angeles grocery-anchored property. The company is the new owner of Victory Plaza, a North Hollywood retail center, as well as a development site that has all the papers in place for a multifamily development. Kennedy Wilson had purchased the debt on the two assets in December of last year from an Ireland-based financing firm, for a total of $30 million.
Partnership Between Centennial and Lincoln Completes its Fifth Acquisition with $20 Million Santa Monica Buy
One of the most high-profile shopping locations in Santa Monica is set to be given a boost as a recent deal was recently completed for one of its anchor properties. A joint venture between Lincoln Property Company and Centennial Real Estate has moved on the market to acquire a retail property for a fee of $20.5 million. The partnership will reportedly take the newly acquired property through an extensive renovation process that would add value to the asset.
La Kretz Innovation Campus in Cleantech Corridor Secures Final Part of Financing, Set to Open in 2015
An initiative that is set to reignite the tech sector in L.A. recently received the go-ahead as financing for the project is finally in place. Thanks to the U.S. Bank, the La Kretz Innovation Campus is now closer to reality as the last piece of the financial puzzle has been locked in. The banking giant has secured $14 million in New Markets Tax Credit for the La Kretz development project, which when completed will consist of a total investment of around $46 million. The project has received wide support from local officials, especially Los Angeles Mayor, Eric Garcetti.
Indcor Grabs 7 MSF Multi-Market Portfolio
IndCor Properties acquired a 7 million-square-foot portfolio of industrial properties located in the key markets of Reno, Las Vegas, Chicago and Southern California.
Record-Breaking Land Deal Completed in Central L.A., Set to Become the Site of New LEED-Certified Industrial Complex
The Los Angeles real estate market recorded a milestone recently as the largest land deal in over a decade in the central area of the city was completed when Pacific Industrial, LLC acquired a large plot of land from the City of Bell. The purchase was announced by the local office of commercial real estate services provider, CBRE.