Month: March 2018

Metropolis project in Downtown Los Angeles (Metropolis LA) A Los Angeles lawyer and his one-person firm are being sued for allegedly tricking a financial services company that manages the EB-5 visa program of the $1 billion Metropolis project. An entity tied to Metropolis’ mega-developer, Greenland USA, filed the suit Tuesday in federal district court in…

(Credit: Holland Partner Group) Residential developer Holland Partner Group is expanding its Los Angeles portfolio with plans for a 271-unit complex in Downtown Long Beach. The Vancouver, Washington-based company has had several projects in Downtown L.A. The proposed development, which local news site Longbeachize reported, would have 11 units set aside as affordable housing. The…

Spring is almost here and so are the rankings of the top luxury brokers in L.A. County in The Real Deal’s newest issue out this April. This is a must-read for anyone in real estate in Southern California. Other key features include: – Investigating what real estate jobs pay and why – Exploring how blockchain technology…

Jerome Powell, Federal Reserve Chairman The Federal Reserve voted to raise short-term interest rates by a quarter of a percent, citing a strong economy, and signaled more hikes were on the horizon this year. The Fed’s decision to raise its benchmark rate to between 1.5 and 1.75 percent came Wednesday, during its first meeting led…

Donald Trump (Credit: Wikimedia Commons, Pixabay, PxHere) President Trump’s controversial tariffs on steel and aluminum imports haven’t taken effect yet but they are already having an impact on commercial real estate across the country. Steel prices have climbed around 10 percent nationwide as the construction industry prepares for Friday’s change, according to the National Real…

Spencer Rascoff Zillow Group has quietly started charging builders and their agents for listings that were previously free on its website, causing some agents to worry what revenue stream the company may try to tap next. Homebuilders, or their agents, with 150 closings per year or more are required to join Zillow’s Promoted Communities program,…

Jeff Reinstein, CEO of Premier, with Park Tower Irvine-based Premier Business Center, a flex workspace provider, has inked a five-year lease for the second floor at Park Tower in Long Beach. The firm will take roughly 17,300 square feet in the glass office building at 5150 E. Pacific Coast Highway, it said in a statement.…

Tennis Channel’s CEO Ken Solomon, with Lantana Center in Santa Monica (Lantana) Tennis Channel is in advanced discussions to lease roughly 50,000 square feet at the Lantana Center in Santa Monica, The Real Deal has learned. The network would move into the space at 3003 Exposition Boulevard that was originally leased by Beachbody, a fitness…

The South Los Angeles lot A mixed-use development with 160 market-rate units could rise on a South Los Angeles lot that has sat vacant for nearly a quarter-century. Earlier this month, the city’s Economic and Workforce Development Department asked Mayor Eric Garcetti and the City Council to sign off on the proposal for the two-acre…

Google map of 8th Street and Mariposa Avenue Two years ago, Dmh Investment Group paid about $6 million for a property along South Mariposa Avenue, a few blocks from the Equitable Life Building in Koreatown, amid the neighborhood’s building boom. Construction accelerated in surrounding Koreatown but Dmh just waited. Then earlier this month, the Los…