Month: March 2018

Rendering of Constellation Park (Credit: JohnsOnFain) Nearly 15 years after it was first proposed, a 483-unit high-rise condo complex in Century City is back on the books. Well, half of it, at least. JMB Realty is moving forward with its plan that calls for two residential towers at the corner of Constellation Boulevard and Avenue…

James Malone (Credit: Twitter, PxHere) James Malone, vice president of leasing at Brookfield Properties, is ditching the in-house lifestyle for Colliers International. During his five-year stint at Brookfield, he represented the landlord in a 120,000-square-foot lease renewal with anchor tenant Ernst & Young at 725 S. Figueroa Street in Downtown Los Angeles. He’s also struck…

Rendering of Drivers Club Miami (Credit: Drivers Club Miami) South American developer Carlos de Narváez is moving forward with his $100 million luxury auto club project, Drivers Club Miami. Miami-Dade County commissioners unanimously approved the developer’s proposal to turn county-owned land just west of Miami Gardens into a “country club for cars,” according to a…

Leonardo DiCaprio in “The Great Gatsby,” 220 Central Park South and a Yacht and Mansion in South Florida The world’s population of ultra-rich is growing, and their real estate investments are pushing up real estate prices in cities from New York to Guangzhou, China. According to Knight Frank’s 2018 wealth report, there were 2.5 million…

(Illustration by Dushan Milic) From the archives: When Derek Peterson’s company Terra Tech closed on two new Southern California properties recently, it likely paid up to 25 percent more than another business would have — but Peterson still thinks they scored a deal. It’s a markup that’s largely expected in Peterson’s industry, legal marijuana, a…

(Credit: Pexels, Public Domain Pictures) The delinquency rate on CMBS loans came in nearly a full percentage point lower than a year ago, a positive indicator for lending in the year ahead, and bucking the gloomy predictions the industry has long been hearing. The rate in February was 4.51 percent, down from 5.31 percent in…

From left: Divorce lawyers Daniel Jaffe, Laura Wasser and Neal Hersh (Credit: Jaffe Clemens, Hersh Mannis, WCM Family Law, Wikimedia Commons) A just-divorced woman returned one day late last year to her palatial Los Angeles home to find it reeking of cigarettes. Which was odd, since neither she nor her ex-husband smoked. After some sleuthing,…

We’re gearing up for The Real Deal’s Westside Spotlight starting today at 1 p.m.! The event, which is being held at the Water Garden in Santa Monica, will feature two panel discussions on development on the Westside, as well as activity in the office market and how it’s increasingly influenced by the tech sector. Follow along or…

Wilshire Grand in Downtown Los Angeles (Getty) Downtown Los Angeles has become ground zero for gentrification. That’s according to a new survey from RentCafe, which ranked the 20 fastest gentrifying ZIP codes in the country. Downtown’s 90014 took the top spot. From 2000 to 2016, median home values in Downtown rose roughly 700 percent. The…

Jonathan Gray. (Credit from back: Pixabay, University of Miami) Jonathan Gray’s take-home compensation package was one of Blackstone’s biggest at $275 million, but Gray still pocketed far less than the group’s CEO Stephen Schwarzman. As the leader of the group, which manages funds worth about $434 billion, Schwarzman’s compensation was about $800 million, according to…