Month: August 2020

Real estate brokerages in Los Angeles and elsewhere have made shifts in their business over the last five months that could be for the long-term. In early April a dejected-looking Kurt Wisner posted a video in front of an empty van. “I’ve got a van parked down here by the L.A. River and it’s Tuesday,”…

Balducci Balducci’s at 300 W 57th Street and Kings Food Markets at 870 Franklin Avenue in Garden City (Google Maps) The parent company of Kings Food Markets and Balducci’s has filed for Chapter 11 bankruptcy, becoming the latest grocer to face financial challenges. KB US Holdings requested bankruptcy protection Sunday in federal court in White…

Gerald Hines Gerald Hines, who transformed Houston’s skyline and built the Lipstick Building in Manhattan, died at his Connecticut home Sunday. He was 95. Hines built some of Houston’s largest office and shopping centers including the sprawling, upscale Galleria and Pennzoil Place downtown. The Lipstick Building (Credit: Philip Johnson via Wikipedia) Born in Gary, Indiana,…

Democratic presidential nominee Joe Biden has laid out changes he would make to programs and policies beloved by the real estate industry. (Photos via Getty Images) For the last four years, real estate companies have had one of their own in the White House — a fact that has proven lucrative for some of the…

64 La Gorce Circle, Cher and Lourdes Alatriste (Credit: Bruce Glikas/Bruce Glikas/FilmMagic via Getty Images) If she could turn back time, would Cher have held onto her Miami Beach home? Not sure, but the Goddess of Pop’s former waterfront mansion on LaGorce Island is hitting the market for $22 million, according to listing agent Lourdes…

Blackstone CEO Stephen Schwarzman, and the building (Credit: Google Maps) Blackstone Group paid $62 million for a data center in Southeast Los Angeles, continuing its push for industrial space. The 461,000-square-foot property is located at 8700 Mercury Lane in Pico Rivera. The seller was information management company Iron Mountain, which paid $16.6 million for the…

Brookfield’s Brian Kingston and Colony Capital’s Tom Barrack (Getty, iStock) In the real estate investment world, being delinquent on debt doesn’t mean investors have run out of money. They are likely to be cutting losses to shift funds into something more lucrative. Colony Capital, for example, stopped making payments on many of its hotel bonds…

LA County assessor Jeffrey Prang Combined, the assessed value of Los Angeles County’s commercial and residential properties was $1.7 trillion. But that was as of Jan. 1, well before the coronavirus upended the county, country and the world. Newly-released data from the county assessor — as cited in the Los Angeles Business Journal — shows…

Southern California home sales rose 27 percent in July compared to June Southern California’s housing market surged in July, as buyers plowed into the market despite the overall economic uncertainty. Home sales and home prices rose from June to July, according to the Los Angeles Times, with Southern California largely mirroring national trends. Sales of…

Mike Plant and the Battery Atlanta The CEO of Braves Development Corp. cleared the air on Tuesday regarding the future of the mixed-use development outside Atlanta’s Truist Park: it’s not for sale. CEO Mike Plant said on Tuesday that comments made by Liberty Media CEO Greg Maffei earlier this month did not mean the 2.5-million-square-foot…