Month: January 2019

Chris Rising, Nelson Rising, and One California Plaza (Credit: Getty Images and Wikipedia) Rising Realty Partners plans to invest more than $300 million in properties in the Western U.S. over the next two to three years, with an emphasis on cities outside of Los Angeles. Christopher Rising, the company’s newly named CEO, said the L.A.-based…

Jeff Bezos and Long Island City (Credit: Getty Images and John Gillespie via Flickr) Amazon won’t be taking advantage of the Opportunity Zone tax break in Long Island City. The tech giant confirmed it won’t pursue the incentives for its planned campus in the Queens neighborhood, Bloomberg reported. “We will not be using the Opportunity…

World Class Capital founder Nate Paul It’s never a bad idea to build by-right. That’s the notion behind a self-storage facility going up on a large lot in Chinatown just inside the Cornfield Arroyo-Seco Plan Area, or CASP. A joint-venture between Barings and World Class Capital, a Texas firm, bought a 2.3-acre site at 1000…

(Credit: iStock) Signs of a looming correction in Los Angeles’ housing market became even more evident in December, as the number of sales plunged to their lowest level in almost a decade. There were 5,291 home sales last month, a 20.3 percent decline from 2017, according to a new report from CoreLogic. That’s the lowest…

Compass CEO Robert Reffkin, Spaces CEO Martijn Roordink, and the Playhouse Plaza in Pasadena Spaces and Compass have each signed hefty leases at the Playhouse Plaza building in Pasadena. Co-working firm Spaces inked an 11-year lease for 49,000 square feet, while Compass added 22,250 square feet to the 12,000 square feet it has rented there…

Brookfield CEO Bruce Flatt and 666 Fifth Avenue (Credit: Wikipedia, Google Maps, and Pixabay) Brookfield Asset Management’s $15 billion property fund is ready to roll. The firm has finished raising money for the fund, which is the largest ever for the company and the second largest in private real estate, just behind Blackstone Group’s $15.8…

Construction on Platform 16 is set to begin this spring. (Credit: Kohn Pedersen Fox) Boston Properties is growing its footprint in California’s office market with a 1.1-million square-foot office complex in Silicon Valley geared to attracting the world’s biggest tech companies. The New York-based real estate trust is teaming up with TMG Partners to develop…

The home at 711 Walden Drive in Beverly Hills sold for $13.8 million Two more properties tied to Woodbridge Group of Companies’ alleged $1.2 billion Ponzi scheme have sold in Beverly Hills. The first was a mansion at 711 Walden Drive that sold for $13.8 million to buyers Nathalie and Bernard A. Khalili, according to…

Aaron Kirman The Los Angeles market has lately become so crowded with properties asking pie-in-the-sky prices you’d think someone would make a show about it. And now CNBC has gone and done it. The aptly named “Listing Impossible” will star high-profile agent Aaron Kirman, who has struggled to sell the most outrageously priced piece of…

Chicago apartment buildings in winter (Credit: iStock) With the city locked down amid wind chills pushing 50 degrees below zero, Mayor Rahm Emanuel issued a rare order Wednesday instructing building inspectors not to wait for permission from landlords before fixing heating systems in rental buildings that violate city code. The mayor directed buildings department Commissioner…