West
MARKET SNAPSHOT: Jobs Improvement Benefits Las Vegas’ Residential, Hospitality Sectors
Steadily improving employment is driving both residential and hospitality market improvement after a number of difficult years for Sin City.
Canyon Capital, Hudson Pacific Provide $140M Loan for L.A.’s Broadway Trade Center
Canyon Capital Realty Advisors L.L.C. and partner Hudson Pacific Properties Inc. will provide $140 million in financing to enable Waterbridge Capital and investor Jack Jangana to redevelop the 1 million-square-foot Broadway Trade Center in downtown Los Angeles.
Payne Becomes SARES-REGIS President of M-F Development
Multi-family veteran Christopher Payne has joined SARES-REGIS Group as its new president of multi-family development.
Atlas Capital Leads Investor Group to Acquire L.A.’s EVOQ Properties
Affiliates of Atlas Capital, Square Mile Capital and USAA have announced plans to acquire EVOQ Properties. EVOQ’s holdings include more than two million square feet of rentable space and more than 13 acres of prime development land in Downtown Los Angeles.
Amazon to Open Fifth California Fulfillment Center
Amazon.com Inc. will occupy a 700,000-square-foot fulfillment center in the Redlands, Calif., signing with building owner Clarion Partners.
ABM Acquires NoCal HVAC Service, Energy Solutions Provider
ABM Building & Energy Solutions has acquired Airco Commercial Services Inc., a Northern California provider of HVAC service, energy solutions and building controls located in Sacramento, Calif.
Wanda Group to Build $1.2B MXD in LA
Chinese conglomerate the Wanda Group has outbid numerous other parties for a prime site in Beverly Hills, on which it plans to build a mixed-use project.
Rockefeller Group Acquires 236 KSF Office Portfolio in Beverly Hills
Rockefeller Group Investment Management Corp. has acquired UTA Plaza and The Ice House, a premier 236,000-square-foot portfolio on Civic Center Drive in Beverly Hills, Calif., from Tishman Speyer.
Capri Capital, TruAmerica Buy 464-Unit Apartment Complex in LA’s Koreatown for $283M
All eyes are on The Vermont, a 464-unit high-rise apartment community in the increasingly trendy Koreatown area of Los Angeles, now that the new luxury property has been picked up for $283 million, the largest multi-family, mixed-use transaction in California year to date.
JLL Secures $152M in Debt for 1 MSF California Center Office Campus in East Bay Area
JLL has obtained $152 million in debt financing from Starwood Property Trust for Swift Real Estate Partners’ acquisition of the 1 million-square-foot California Center office campus in Pleasanton, Calif.