Month: March 2018

4252 – 4272 S. Crenshaw Boulevard in South Los Angeles The Metro Crenshaw/LAX Line hasn’t even been built yet, but already one developer is hoping to benefit from the future transit hub. An LLC has filed plans to build a 111-unit apartment complex at 4252 – 4272 S. Crenshaw Boulevard in South Los Angeles, Urbanize…

Ben Carson (Credit: Getty Images) When news broke last month that the Department of Housing and Urban Development had ordered a $31,000 dining set for Secretary Ben Carson’s office, his defense was that he didn’t know about the purchase. But newly uncovered emails show that’s not true. One August email from a HUD staffer to…

Ed Glazer and Donald Trump, with the Beverly Park gated neighborhood (Credit: buccaneers.com, Wikimedia Commons) President Trump might not be much of an Angeleno favorite, but as he descends on the city for a lavish fundraiser, he can still count on his deep-pocketed real estate friends. Trump will be the guest of honor for a…

From left: Jonathan Gray and Rockpoint’s Bill Walton An investment fund controlled by Blackstone Group bought a passive, minority stake in Rockpoint Group, the company announced Tuesday. Terms of the deal weren’t publicized. The vehicle that made the investment, Blackstone’s Strategic Capital Holdings Fund, falls under the private equity firm’s hedge fund business. The Boston-based…

A wildfire burns in California (credit: Getty Images) If there’s any lesson to be learned from the latest wildfires, it’s that Mother Nature does not care what stands in her way. Evidently, homebuilders haven’t gotten the message. New homes are increasingly being built on some of the most high-risk areas, such as the tops of…

Purplebricks, the rapidly-growing flat-fee brokerage, has been slapped on the wrist by an Australian consumer agency over misleading advertising that promises “low, fixed fees.” The U.K.-based company, which launched in the U.S. six months ago, was fined nearly $16,000 for ads deemed to be misleading to consumers. The Queensland Office of Fair Trading said the…

Renderings of the Hawthorne project (Credit: Guerdon-Modular-Buildings) SpaceX HQ is starting to attract attention in Hawthorne. Developers continue building near Elon Musk’s rocket and spacecraft company, with the latest plan involving a dual-branded hotel. Mogul Capital’s project will include a 221-room Marriott Courtyard and a 133-room TownePlace Suites, a couple of miles from SpaceX, according…

Adam Levine and Pete Sampras (Credit: Wikimedia Commons) Maroon 5 frontman Adam Levine picked up a Tudor-style manse in Beverly Hills for $35.5 million. The new pad is 12,000 square feet with seven bedrooms, eight bathrooms, a screening room, pool, and guest house, according to Architectural Digest. The previous owner, “Will and Grace” creator Max…

Robert Herscu and 1522 Second St. HQ Creative Office is making a play for the beach. The local developer paid $13.3 million, or $864 per square foot, to acquire the ivy-covered building at 1522 Second Street in Downtown Santa Monica. Santa Monica-based Hertz Investment Group was the seller of the roughly 15,300-square-foot property. The private equity…

Bob Shapiro with the Owlwood Estate (Credit: Getty Images) The now-bankrupt luxury real estate developer Woodbridge Group of Companies is searching for a broker to help unload its entire Los Angeles portfolio. The firm has been soliciting top brokers in the city, asking them to submit pitches detailing why they would make a good fit,…