Month: February 2018

Bixby’s Mike Severson and 1400 Allec Street (Credit: Bixby) Newport Beach-based Bixby Land Company is leading a joint venture to acquire up to $400 million in industrial properties in California and four other states. It was not known which specific areas — if any — the team was targeting but in Greater Los Angeles, demand…

“The Stater Bros. supermarket at West Covina Village Community Shopping Center” (Credit: LoopNet) The five biggest retail investment sales in Los Angeles County last month totaled just under $125 million, according to property records and data compiled by Real Capital Analytics. Most of the properties on the list are low-rise shopping centers far from the…

Regina Vannicola and Pacific Union’s Santa Monica office at 1730 Ocean Park Boulevard (Credit: Pacific Union) Pacific Union has hired away 16 agents from three teams at competing brokerage Keller Williams, showing its clout following the unexpected departure of top-producer Sally Forster Jones and her team to Compass. Pacific Union has recruited Regina Vannicola and…

From left: Rodrigo Azpurua, Veronica Cervera Goeseke, Diego Arnaud (Credit: Wikimedia Commons) In the last two months, Diego Arnaud of Aventura-based DA Luxury Realty has spotted a noticeable increase in sales activity among his clients from Mexico, who account for nearly all of his business. Several have just purchased multimillion-dollar units at the Ritz-Carlton Residences…

Daryl Katz and the Malibu home (Credit: Wikimedia Commons) It took awhile, but billionaire Daryl Katz has finally closed on Kurt Rappaport’s massive estate, paying $85 million plus another $21 million for the artwork and furniture. Katz first entered into an agreement to purchase the Malibu property for a combined $120 million in December, although…

The Real Deal is pleased to announce a full line-up of panelists for our Westside Spotlight Showcase and Forum on March 7 at The Water Garden in Santa Monica. Real estate’s biggest local players will explore the Westside market in two panels, one taking a holistic look at development in the area and the other…

The property with TruAmerica’s CEO Robert Hart (Credit: TruAmerica) TruAmerica Multifamily, a value-add investment firm, has acquired a 264-unit apartment in Huntington Beach for $90.5 million, adding to the company’s growing Los Angeles portfolio. The seller was an affiliate of UDR, which paid $33.8 million for the property in 2003, records show. West Los Angeles-based…

Shanghai Tower and its elevator (Credit: Mitsubishi Electric) As supertalls continue to sprout up in the city’s skyline, elevator companies are racing to come up with the future of vertical transportation. In the next two years, developers are expected to build 187 towers across the globe that will each rise at least 820 feet high,…

531 W. College St. (Credit: Google Maps) When Pacific Alliance Medical Center announced in October that its Chinatown location would be closing, residents in the surrounding community expressed concern over losing the neighborhood’s only hospital. Those concerns became reality when the facility, located at 531 W. College Street, closed on Dec. 11. The ownership group, La…

The new 53-unit apartment will replace these two existing buildings on South Rampart Boulevard. (Credit: Google Maps) The Department of City Planning has approved a 53-unit apartment to rise in Rampart Village, with eight of the units set aside as affordable. The project involves tearing down two smaller apartment houses on the lot at 329…