Los Angeles
Investors Take Koreatown, Mid-Wilshire Apartment Complexes
By Alex Girda, Associate Editor Even if blockbuster investment sales are relatively rare in Los Angeles these days, a steady stream of small- and mid-size multi-family trades are picking up some of the slack. A pair of properties that recently changed hands in the Wilshire District and Koreatown offer two of the latest examples. Ardmore Court (pictured), […]
L.A.’s Biggest Apartment Project Since 2008 Under Way
By Alex Girda, Associate Editor J.H. Snyder Co. broke ground late last month on a $200 million multi-family rental project that is the largest of its kind in Los Angeles since the recession began in earnest four years ago. Dubbed the Vermont, the property will encompass 464 rental units in 29-story and 23-story residential towers. In […]
Ryan Seacrest Pays $37M for Ellen DeGeneres’ Compound
By Alex Girda, Associate Editor When it comes to sheer volume and value, the Los Angeles celebrity home market is a standout. Estates regularly command higher prices than mid-size commercial properties. Recent case in point: Daytime TV host Ellen DeGeneres and her spouse, Portia de Rossi, recently sold their Beverly Hills compound to fellow headliner Ryan […]
Construction Starts on $50M W. Hollywood Apartment Complex
By Alex Girda, Associate Editor NMS Properties has kicked off construction on the latest entrant in West Hollywood’s upscale multifamily rental market. The $50 million NMS @ LA Cienega is rising near the intersection of La Cienega Boulevard and Westmount Drive en route to a scheduled July 2013 opening. The project will expand the developer’s 1,200-unit […]
Rising Returns with Value-Add Purchase of PacMutual Complex
By Alex Girda, Associate Editor A partnership led by veteran executive Nelson Rising has made its debut with the acquisition of the landmark PacMutual building in Downtown Los Angeles. Rising Realty Partners bought the 424,598-square-foot, three-building asset in association with Mount Kellett Capital Management L.P., its financial partner. According to the Los Angeles Times, local real […]
Archstone Project Answers Multi-Family Demand in Santa Clarita
By Alex Girda, Associate Editor In another sign of growing demand for multi-family rentals in the Santa Clarita Valley, Archstone and an affiliate of The Resmark Cos. recently broke ground on a 157-unit town home complex in Santa Clarita. “The strong job market in the Valley and in the Los Angeles area has helped create greater […]
Inland Empire Keep Rolling With 600 KSF Beaumont Leases
By Alex Girda, Associate Editor Leasing in the Inland Empire continued to pick up steam in the first quarter. CT Realty Investors recently leased nearly 600,000 square feet of space at its facilities at 520 Fourth Street and 415 Nicholas … Continue reading →
USAA Picks Moreno Valley for 500,000-SF Distribution Center
By Alex Girda, Associate Editor Seeking to capitalize on the Inland Empire’s robust growth, USAA Real Estate Co. recently acquired a 26-acre site in Moreno Valley for a 522,722-square-foot distribution center. USAA did not immediately disclose details about prospective tenants or a construction schedule for the property, dubbed Centerpointe Logistics Center, but it referred to plans for “immediate […]
Playa del Rey to Get First New Office Complex in 20 Years
By Alex Girda, Associate Editor
Playa del Rey will get its first new office complex in 20 years—The Strand Offices at Playa del Rey, a two-building complex at 311 and 315 Culver Boulevard.
At 10,000 square feet, the property will be modest in size, yet developer Cove Spring Partners L.P. is counting on the property’s location adjacent […]
Related Breaks Ground on $350M Santa Monica Residential Project
By Alex Girda, Associate Editor
Related California, an affiliate of the Related Cos., started construction Feb. 16 on a $350 million mixed-use project in the seaside city of Santa Monica. Dubbed the Village at Santa Monica, the project is scheduled for completion in 2011 and will incorporate 318 luxury condominium units and affordable rental apartments feature around […]