Month: January 2020

Blackstone’s big real estate deals in 2019 included a massive logistics portfolio and the Bellagio in Las Vegas (Credit: Getty Images, iStock) UPDATED, Jan. 30, 2019, 2:24 p.m.: Following a year of mega-deals that brought Blackstone Group’s real estate assets under management to an unprecedented size, the firm’s executives sound optimistic about opportunities in the…

Hollywood power couple Michelle Pfeiffer and David E. Kelley snapped up a Pacific Palisades home for $23 million (Credit: Compass and Getty Images) David E. Kelley and Michelle Pfeiffer aren’t done with the Pacific Palisades. A company tied to TV writer/producer Kelley — husband to the Hollywood actress — paid $22.5 million for a home…

Bernhard Karpf and Parsa Khalili The architect who oversaw Richard Meier & Partners after its founder was accused of misconduct has launched a new firm. Bernhard Karpf and Parsa Khalili launched Karpf Khalili Architects late last year, according to New York Department of State records. Karpf left Meier’s firm in July 2019, after more than…

Welcome to the broker hunger games: Only “the strong will survive.” (Photo credit: Lionsgate) A decade from now, the real estate marketplace may not be swarming with as many agents as there are today. Automation and increased consolidation of business with top agents will whittle down the ranks. “The strong will survive,” Ryan Gorman, CEO…

From left: Taubman’s Robert Taubman, Macerich’s Thomas O’Hern and Simon Property Group’s David Simon (Credit: Getty Images) The news that Simon Property Group could buy bankrupt retailer Forever 21 has cost the mall landlord nearly $2 billion in market share and thumped its competitors. Wall Street reacted negatively Friday’s headline, sending Simon Property’s stock price…

Leslie Wexner (Credit: Getty Images) The owner of Victoria’s Secret is in talks to potentially sell the company, as sales fall at the iconic lingerie brand. Leslie Wexner, who has built the retail empire of L Brands — the parent company of Victoria’s Secret — over nearly six decades, is also considering stepping aside as…

Delal Ali will head up the West Coast for Harbor Group Harbor Group International has hired a head of West Coast operations, two years after the real estate investment firm opened an office in Los Angeles. Ali will be based in San Francisco, the company said Wednesday. She will be in charge of raising money…

LA harbor officials approve $150 million remake of San Pedro’s Ports O’Call Village (Credit: Getty Images) A joint venture of the Ratkovich Company and Jerico Development can begin a long-anticipated $150 million project to remake the sprawling San Pedro Public Market. The Port of Los Angeles’ five-member Harbor Commission voted unanimously to allow the first…

Frank Lloyd Wright and the School of Architecture at Taliesin Arizona Campus (Credit: Getty Images and Wikipedia) The architecture school founded by Frank Lloyd Wright is closing after almost 90 years. The School of Architecture at Taliesin, which has campuses in Wisconsin and Arizona, said it would shutter operations after the school’s board failed to…

This piece was updated with a statement from Douglas Emmett A Brentwood fire broke out at Douglas Emmett-owned Barrington Plaza in Brentwood A fire at a Douglas Emmett Inc.-owned Brentwood high-rise Wednesday has left at least eight people injured, and it comes one year after a lengthy lawsuit regarding the buildings’ fire safety protocols settled.…