Month: March 2019

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MG Properties CEO Mark Gleiberman and Sares-Regis Principal William Thormahlen Sares-Regis Group has offloaded a Downtown Long Beach apartment complex for $49 million. The Irvine-based developer sold the 158-unit building to multifamily investor MG Properties Group, property records show. Sares-Regis purchased purchased the Pine At 6th complex, located at 110 W. 6th Street, in late…

Mark your calendars: These are LA’s top real estate events next week

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There are a couple of notable real estate events coming up next week. On April 2, the Los Angeles County Bar Association is hosting an event on Supporting Women Real Estate Attorneys at their HQ, 1055 West 7th Avenue, from 12:30 p.m. to 1:30 p.m. This event will feature a panel of female attorneys as…

Faith-based university closes on sale of its Pasadena campus

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EF CEO Edward Hult with William Carey campus William Carey International University has closed on the sale of its 15-acre Pasadena campus. The buyer, EF Education First, paid $44 million, records show. The Switzerland-based operator of private schools has locations in the U.S. and throughout the world. William Care International’s five-building complex at 1539 E.…

Santa Monica squashes market-rate micro-unit projects…for now

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Santa Monica put an emergency hold on market-rate micro units Santa Monica city leaders have placed an immediate hold on the construction of market-rate studio apartments smaller than 375 square feet, as they grapple with a sudden influx set for downtown. The 45-day ban on “single-room occupancy” units is in effect until May 10, Curbed…

Activists in this city want to seize 200K apartments from landlords

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“Expropriate Deutsche Wohnen and Co” founder Rouzbeh Taheri and Deutsche Wohnen apartments (Credit:Deutsche Wohnen and Berliner S-Bahn-Tisch) “Are we heading back to socialism now?” asked Germany’s largest tabloid, Bild, earlier this month. The reason? A referendum initiative in Berlin is seeking to expropriate 200,000 homes from the city’s biggest landlords and convert them into social…

City seeks developer for planned DTLA tower to replace Parker Center

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The Parker Center in 2004 The city is beginning its search for a development team to build a new office tower at the site of the Parker Center, the former police headquarters that is part of the Civic Center. At least three are expected to submit plans. Los Angeles officials have outlined a plan for…

Trump admin moves to end conservatorship of Freddie, Fannie

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From left: Fannie Mae CEO Hugh R. Frater, President Donald Trump, and Freddie Mac CEO Donald H. Layton (Credit: Getty Images, Fannie Mae and Freddie Mac) President Trump is expected to sign a memo on Wednesday calling for an end to the federal conservatorship of the Fannie Mae and Freddie Mac mortgage guarantors, Housing Wire…

Billionaire co-founder of Nike takes a loss on La Quinta lot sale

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Phil Knight and Madison Club (Credit: Getty Images) It wasn’t quite a swoosh: the co-founder of Nike, Phil Knight, sold his open lot in La Quinta for $2 million, taking a minor loss on the property. The billionaire had purchased the flat acre in the gated Madison Club community for $2.5 million about a decade…

@properties expanding outside Chicago with investment in Atlanta brokerage

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@properties co-founder Thad Wong and Mike Golden in Atlanta (Credit: @properties and iStock) Chicago’s top residential brokerage, @properties, is expanding outside of the local market with a new investment in Georgia brokerage Ansley Atlanta. The move will allow one of the fastest growing independent brokerage firms in the Atlanta area to team up with @properties,…

Holy housing: Church plans residential tower in Beverly Grove

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