Month: August 2018

A rendering of Southbank in Chicago (top), Slip 65 at Clippership Wharf in Boston (bottom), and Jason Alderman of Lendlease (Credit: Lendlease and CL Properties) Australia-based construction giant Lendlease has co-launched a multifamily investment fund to create a $2 billion portfolio in the U.S. The company and its partner, Australian superannuation fund First State Super,…

The Beverly Hilton with Cain International CEO Jonathan Goldstein and Beny Alagem Beny Alagem has a new partner in the Beverly Hilton and Waldorf Astoria Beverly Hills. The Beverly Hills hotel mogul inked a partnership deal with London-based Cain International that valued the two properties at a combined $1.2 billion. Neither party disclosed terms of…

(Credit: iStock) In spring of 2017, Pamela Goldstein spotted a $599,000 listing for a Colonial-style four-bedroom home in the Hartsdale section of Greenburgh. She contacted the listing agent, Gino Bello at Houlihan Lawrence, and quickly received a message from Daniel Cezimbra, another agent at Houlihan Lawrence. Cezimbra accompanied her to the house showing and warned…

Bob Blumenfield, Selma las Palmas Courtyard Apartments (Credit: Cultural Heritage Commission) A Los Angeles City Council committee has voted against landmarking four properties in Hollywood that are standing in the way of the Crossroads of the World redevelopment, allowing the 1.4 million-square-foot mega-project to inch forward. Preservationists, including the highly active AIDS Healthcare Foundation, filed…

California State Teachers’ Retirement System CEO Jack Ehnes and Children’s Investment Fund Foundation CEO Kate Hampton (Credit: Getty, Twitter, and iStock) While banks struggle with financial regulations, non-conventional lenders are taking a bite out of market share. Nonbanks originated nearly $60 billion last year, a 40 percent increase from 2014, the Wall Street Journal reported,…

Daniel Fournier and the property A Canadian firm is looking to scoop up a piece of Southern California’s tight industrial market. A joint venture between Ivanhoe Cambridge, a Montreal-based real estate firm, and Newport Beach-based CapRock Partners announced plans to develop a $450 million industrial campus in Ontario in the Inland Empire on Tuesday. Dubbed…

Gwyneth Paltrow and a rendering of 8920 Sunset Boulevard The West Hollywood City Council gave final approvals for the Arts Club late Monday evening, paving the way for another posh members-only club to rise on the Sunset Strip. All but one councilmember signed off on the project after local residents and workers commented on the…

The Water Tower Place mall in Chicago and Brookfield Property Partners CEO Ric Clark (Credit: Gabe Popa via Flickr and Getty Images) Brookfield Property Partners is wasting no time with its plan to turn around General Growth Properties, the massive shopping mall real estate investment trust it bought for $14.8 billion last month. Toronto-based Brookfield…

2841-2853 W. Leeward Avenue A developer is planning a 46-unit condominium in Westlake near MacArthur Park, where housing prices have risen sharply in recent years. The project will combine two lots, at 2841-2853 West Leeward Avenue, according to documents filed with the Department of City Planning. The owner is listed as Ik Seon and Hae…

Mark McLaughlin and Robert Reffkin (Credit: Jeff Newton, iStock) UPDATED, August 21, 2:50 p.m.: Compass is closing in on a blockbuster deal to buy Pacific Union International Realty, one of the largest brokerages on the West Coast, with $14 billion in sales last year. Compass CEO Robert Reffkin confirmed the deal Tuesday in an email…