Month: February 2018

Spring St. Hotel (Credit: BLVD Hospitality) Add another name to the flurry of hotel construction happening in Los Angeles. The Amsterdam-based CitizenM hotel chain is expanding into Downtown Los Angeles, after the company paid $13.5 million for a 20,000-square-foot parking lot on the corner of 4th and Spring streets, the Los Angeles Business Journal reported.…

A rendering of the Koreatown project, which Jamison plans for a parking lot adjacent to the Wilshire Professional Building (Credit: Department of City Planning) Jamison Services received approval for another project in Koreatown, this one a 16-story residential tower near the Wilshire Professional Building. The project, which the LA City Council approved Tuesday, will include…

Sally Forster Jones and a Compass office The Compass direction continues pointing toward a rapid expansion. Sally Forster Jones joined Compass’ Beverly Hills office, the latest in a series of moves by the company to add established talent to its nationwide roster, The Real Deal has learned. Jones’ departure from Pacific Union International’s LA office,…

“The Suitor” by Beda Francesco, feat. Bruce Flatt In April, an activist investor called on Forest City Realty Trust to consider settling down with a new owner. A few months later, a major suitor came knocking: Brookfield Asset Management, a Toronto-based private equity firm overseeing $265 billion in assets. News of deal talks came in…

Lili Dunn, Bell Partners’ president of investment, and the property at 11622 Aviation Boulevard (Google Maps) Bell Partners paid $123 million to acquire a 264-unit apartment complex in Inglewood, adding to the flurry of recent deals in the fast developing neighborhood. The seller was San Diego-based Fairfield Residential, the Los Angeles Business Journal reported. Fairfield…

The Blue Line’s Firestone Station, located in an unincorporated community of Firestone Park (Credit: Wikimedia Commons) Two L.A. Board of Supervisors want to speed the approval process for developers who plan to build in state-designated areas near future rail stations. Supervisors Janice Hahn and Hilda Solis want to direct county and state officials and the Metropolitan…

The existing building at 400 South Alameda Street will be replaced A new 66-key boutique hotel was approved for construction on South Alameda Street in the Arts District, just outside Skid Row. Development in the Arts District has picked up in recent years, with its borders stretching farther out. Mexico City-based Grupo Habita will convert…

Renderings for the Sycamore (Credit: Loopnet) New details on CIM Group’s latest project show an eight-story, glass-clad office with four levels of parking in Hollywood. It extends the company’s most recent development efforts in Los Angeles. The developer released renderings on the property, which will rise at 953 Sycamore Avenue. Ground-floor retail will also be…

4 Times Square, Adena Friedman and the Nasdaq trading floor (Credit: Flickr and Nasdaq) Nasdaq is ditching downtown for the Durst Organization’s 4 Times Square. The stock exchange company inked a 145,000-square-foot lease for part of the space formerly occupied by publisher Conde Nast. With the deal, Durst has leased up about 68 percent of…

From left: Brian Chesky, Laurence Tosi and Belinda Johnson (Credit: AirBnB) Airbnb is in no rush to go public. In fact, the techies who created the home-sharing behemoth have little financial incentive to push for an IPO. The Airbnb founders and early employees have cashed out about $350 million worth of equity in the company,…