Month: July 2018

Robert Reffkin (Credit: Compass via Facebook) Compass pays between four and six times its annual pre-tax earnings when it acquires other brokerages, according to CEO and founder Robert Reffkin. The company, which has scooped up four brokerages since January 2016 and is valued at $2.2 billion, pays in that range (before interest, taxes, depreciation and…

Photos of Michael Jackson recording in the studio Music lovers can now flock to the Valley for the chance to live — and record — where superstars Prince, Michael Jackson and Barry White worked on their music. Craig Huxley, a child-actor-turned-Emmy and Grammy award-winning producer, has put his 2,200-square-foot home on Valley Vista Boulevard in…

Patrick Soon-Shiong and the property at 2310 Imperial Highway. UPDATED, July 24, 1:40 p.m.: Billionaire Patrick Soon-Shiong, the new owner of the Los Angeles Times, acquired a warehouse adjacent to the publication’s new headquarters in El Segundo, The Real Deal has learned. The $50 million purchase was through Soon-Shiong’s company, NantWorks. The property could serve as…

Office on the Manhattan Skyline (Credit: Francisco Anzola via Flickr, Pixabay) The amount of new office space hitting the market nationwide could dip by as 20 percent next year, a combination of rising costs, concerns over the end of the cycle and tightening zoning restrictions. The amount of new office deliveries is expected to total 68.4…

Seller Ronald Richards, and the property at 1850 Sawtelle Ronald Richards, a criminal defense and civil litigation attorney, has sold a Class B office building for $15.3 million, The Real Deal has learned. The high-profile attorney, who has appeared on “Million Dollar Listing” and done other television cameos, acquired the 25,100-square-foot property at 1850 Sawtelle…

The Lewis Business Center at 8000 Woodley Avenue in Van Nuys PGIM Real Estate has a new tenant in Van Nuys. Jocott Brands, a personal care product manufacturer, signed a long-term lease for 64,100 square feet at the Lewis Business Center at 8000 Woodley Avenue. The lease, worth over $6 million, included customizing the Class-A space for…

IWG exec Mark Dixon with the property Co-working firm Spaces signed a deal for 66,300 square feet at the Univision building in Westchester, as it continues to expand in Los Angeles. This time it has targeted the Westside. The deal, which the Dutch firm announced Monday, is its ninth location in L.A. Spaces will be…

Ellen DeGeneres and part of the estate (Credit: celebrityabc via Flickr) This’ll give Ellen something to dance about. Comedian and talk show host Ellen DeGeneres and actress wife Portia de Rossi sold their Montecito estate for $34 million, roughly $5 million more than they paid for it in 2013. The buyers are Ted Sarandos and…

Mark Zuckerberg and the property Facebook is close to signing a deal to occupy 260,000 square feet at the Brickyard office campus in Playa Vista, The Real Deal has learned. The tech firm was originally in talks to lease 120,000 square feet at the Tishman Speyer-owned complex, TRD reported in March. Sources said Facebook boosted its…

The face of homeownership regret (Credit: iStock) Millennials aren’t feeling too great about becoming homeowners. A new survey by Bank of the West found that four in 10 millennials (defined here as individuals 21 to 34 years old) are homeowners — and a majority of them regret taking the plunge, CNBC reported. Four in 10…