Los Angeles
Investcorp Acquires Office, Retail Assets Worth $250M
Investcorp, a global provider and manager of alternative investment products, continues an active year with the acquisition of office and retail assets in the greater Chicago, Los Angeles, Minneapolis and New York areas valued at $250 million.
Improving Retail Market Scores Hanley Investment Numerous Deals Totaling $87 Million
The pace of investment for the Los Angeles retail market is steadily improving, and brokerage companies are loving every second of it. A recent press release from Hanley Investment Urban Retail Advisors indicates the uptick in deals completed by company representatives in the Los Angeles market. Carlos J. Lopez, President of the company, has recently closed $87 million worth of transactions in the recent timeframe. Hanley Investment Urban Retail Advisors is a division of Hanley Investment Group Real Estate Advisors whose main activity involves the sale and advisory of high profile mixed-use and urban retail properties in dynamic districts.
HFF Provides West Hollywood Retail Center with $27 Million Financing Deal
Holiday Fenoglio Fowler L.P. has recently completed yet another financing deal for the improving Los Angeles commercial real estate market. The capital markets services provider has secured financing for a West Hollywood retail asset totaling $27 million. The company worked on behalf of Shooshani Developers, for the Hollywest Promenade.
Woodland Hills Apartment Community Trades Hands for $88M
One of the largest San Fernando Valley apartment deals was perfected recently when a group of investors headed Jones & Jones Management Group paid $88 million for a Woodland Hills property. The buyer acquired the Mercer at Warner Center residential community from Rockwood Capital and The Bascom Group. According to the CoStar Group, the acquisition comes hot on the heels of another high-profile apartment deal made by the buyer, namely the sale of the Crenshaw Village asset, for a total of $60 million.
Big Money Land Deal Paves Way for $750 Multifamily Development Project
As far as land deals go, reports rarely come in about landmark transactions in a major city’s Central Business District. However, a joint venture between Mack Urban and AECOM Capital has recently made public the acquisition of a six-acre land parcel in L.A.’s CBD. The value of the deal is estimated at around $80 million, making it by far the largest transaction of its kind in the area since 2008. The JV acquired the downtown property from former owner, EVOQ Properties.
Madison Buys 49% Interest in Downtown LA Office Tower
Madison International Realty has acquired a 49 percent ownership interest in One California Plaza, a 42-story trophy office tower in downtown Los Angeles, for $295 million.
Arts District Gets New Mixed-Use Community, Big on Outdoor Experience
One of the largest new mixed-use complexes in downtown L.A. is set to spruce up the city’s Arts District with construction now officially on at the 905 East Second Street site. Developed by a joint venture between Lowe Enterprises, Megatoys and institutional investors advised by J.P. Morgan Asset Management, the building will replace two vacant warehouses at the address, currently being demolished.
New Mixed-Use Project Coming to Glendale, Bringing Residential Units to Growing Market
Yet another mixed-use development is popping up in the L.A. real estate market as Camden USA recently announced the groundbreaking of the Glendale Triangle project. The developer is bringing a brand new construction that will add new residential units to the Glendale submarket. According to the developers, the project will be aimed at Gen Y residents and will include a number of resident amenities to attract the young crowds to the Tri-Cities area.
HFF Ramps UP L.A. Area Activity, Completes Financing Deal, Property Sale
As the local market continues to improve, commercial real estate capital intermediaries Holiday Fenoglio Fowler have ramped up their involvement in Los Angeles and Orange County. The company has recently closed the sale of a Newport Beach office asset to a Goldman Sachs Asset Management-controlled fund, while on the financial front, HFF arranged refinancing for a shopping center located in Burbank, worth a total of $11.24 million. The retail property is under the ownership of a joint venture between GPI and KBS Capital Advisors.
Hackman Capital Wins Bid for Hostess Brands’ Assets
Hackman Capital Partners saw an opportunity to turn Hostess Brands leftovers into an appetizing investment by acquiring the remaining assets of the former national bakery brand at a recent bankruptcy auction for $62.5 million.