Month: July 2018

Shutters on the Beach and Hotel Casa del Mar (Credit: Edward Thomasco) The owner of Santa Monica’s Hotel Casa del Mar and Shutters on the Beach closed a $430 million refinance deal for the posh lodges this week. Edward Thomas Corporation refinanced the properties together with a $356.6 million senior mortgage loan and $73.7 million…

Cerro Gordo, the “ghost town”. The sale of a 300-acre property in a historic “ghost town” outside of Los Angeles closed on Friday the 13th after a bidding war, with its new owners vowing to make it a lively hospitality destination. Cerro Gordo, an abandoned mining town 200 miles from L.A. that looks as eerie…

James McClain (Photo illustration by Erica Press for The Real Deal. Credit: Yolanda’s Little Black Book, Public Domain Pictures, PxHere, Pixabay) James McClain, a recently laid-off finance manager at Compass, has been outed as the force behind the popular real estate blog, Yolanda’s Little Black Book. An investigation by the Los Angeles Times revealed the…

Wendy Silverstein and WeWork’s Adam Neumann (Credit: Sasha Maslov) Wendy Silverstein is in talks to take a senior position at WeWork, according to a new report. The CEO of New York REIT will leave her current company and step down from its board, Bloomberg reported. She would plan to take a high-level role at WeWork,…

CEO Scott Greenberg The animation studio behind “Bob’s Burgers” is staying put in North Hollywood. Bento Box Entertainment signed a five-year, 27,300-square-foot lease renewal at an office building at 5161 Lankershim Boulevard. The deal was announced Wednesday. Located in the North Hollywood Arts District, the four-story building spans 197,000 square feet. Beacon Capital Partners, an…

Tejon Ranch, with Tejon Ranch Co. CEO Gregory Bielli Since it was first envisioned nearly two decades ago, a sprawling 12,000-acre master planned community in the undeveloped Tejon Ranch has been a prime target for environmentalists and preservationists. Their concerns about the dangers of urban sprawl and environmental degradation seemingly were resolved in 2008, when…

The Beckman Coulter Campus (Credit: Hines) The pace of commercial trades in the Brea submarket continues to accelerate. Hines and Oaktree Capital closed the largest real estate deal of the year in the Orange County city, buying the 34-acre Beckman Coulter Campus office and industrial center for $115.25 million, according to CoStar. The purchase of…

2458 National Drive in Brooklyn and an illustration of a person on beach chair It might be difficult to fathom, but the price of living next to a body of water is becoming more affordable, a new report has found. Since 2012, when waterfront premiums reached a high of 54 percent in the second quarter,…

Jaime Lee and 600 S. Alvarado Street/224 W. 6th Street Tenants at a Westlake property say landlord Jamison Services failed to contain a pervasive infestation of rats, bedbugs and cockroaches. The tenants of four units at 600 S. Alvarado Street, at the northeast corner of MacArthur Park, are suing the Koreatown giant in Los Angeles Superior Court,…