Month: September 2021

Cruzan co-founder Dennis Cruzan and 2130 N Hollywood Way (Cruzan.co, CBRE) Investor demand for studio and post-production facilities across Los Angeles remains strong, fueled by the rapid rise in content from streaming services during the pandemic. In the latest deal, San Diego-based Cruzan and South American investment firm Independencia Asset Management paid $37.4 million for…

(iStock) The pandemic can’t keep student housing down. In fact, it may even be graduating to a new era as college students return to in-person classes across the country. Property investors are spending billions of dollars on student housing while developing off-campus options for new and returning students. Developers are also adding perks to entice…

Stuart Elliott Remember those days of the mindless commute, when you would grab a cup of coffee and rush to work, only to plop down at your desk for the day? The humdrum daily routine with nothing so extreme as pandemics and once-in-a-century storms to contend with? Will we get back to that anytime soon? …

Boxing analyst Larry Merchant and his Santa Monica home (Compass, Getty) Call it a win on points. Larry Merchant, the legendary boxing writer and analyst, sold his Santa Monica home for $5.9 million after listing the property for $5.7 million in July. The sale closed last month, property records show. The buyer was an LLC…

Darcy Stacom, CBRE’s head of NYC capital markets (Getty) Darcy Stacom, CBRE’s top investment sales dealmaker and broker on some of Manhattan’s most iconic properties, has been accused by 11 former employees of abusive behavior, including berating staffers and throwing things at them. The former employees told Insider they saw Stacom engage in hostile behavior,…

5250 Lankershim Boulevard and DivcoWest CEO Stuart Shiff (GPI Companies, DivcoWest) DivcoWest has added a fourth property to its Los Angeles County office portfolio — this one a 200,000-square-foot complex in North Hollywood’s Arts District, The Real Deal has learned. The firm paid $92 million for the building at 5250 Lankershim Avenue, sources told The…

Renderings of 5801 Atlantic Avenue (Long Beach Planning Commission) Irvine-based developer Brandywine Homes wants to build an 84-unit townhome complex on a lot once owned by Long Beach’s defunct redevelopment agency. The Rhythm complex would cover a currently vacant 3.2-acre city block at 5801 Atlantic Avenue on the north end of Long Beach, according to…

Jeff Marine and 53 Beverly Park Way (JGSI and Zillow) UPDATED, Sept. 7, 12:10 p.m.: The Los Angeles luxury market ​​is still going strong and JEM Sportswear founder Jeff Marine is cashing in. Marine sold his second L.A.-area property for $20 million or more, this one a 17,000-square-foot Beverly Park home, according to the Los…

The Cosmopolitan of Las Vegas at 3708 Las Vegas Blvd S and Blackstone CEO Stephen Schwarzman (Google Maps, Getty) Blackstone is once again seeking a high roller to purchase the Cosmopolitan of Las Vegas, this time soliciting offers in excess of $5 billion for the 11 year-old resort casino. One potential suitor exploring an offer…

Slauson Ave & Wall St with Danny Bakewell Sr of The Bakewell Company (Bakewell, Google Maps) Two developers will lead the construction of a mixed-use complex in South L.A., a project that will include 525 apartments — about half are set aside as affordable. The City of L.A. gave the job to Bakewell Company and…