Month: September 2021

Compass CEO Robert Reffkin and First Alliance Title co-founders Lon Welsh and Greg Parham (Compass, First Alliance) Compass said it’s acquiring a Colorado title and escrow company, expanding its reach into eight states just one week after buying a firm in Texas. The brokerage said on Wednesday that its purchase of First Alliance Title, which…

Jim Rosten of Benedict Canyon Equities and The Retreat apartment complex in Santa Clarita (The Retreat, BCE) Multifamily investor Benedict Canyon Equities has sold a 148-unit apartment complex in Santa Clarita for 55 percent more than it paid three years ago. The Brentwood-based firm sold the Retreat at 2290 Oak Ridge Drive to MKB Ventures…

ICSC President Tom McGee and the Las Vegas Convention Center (ICSC, Wikimedia) It’s been nearly two years since the real estate community has been able to attend its big Las Vegas retail industry bash, ReCon, hosted by the former International Council of Shopping Centers. The December conference is usually a highlight of the year, along…

After rising for two straight months this summer, home sales are once again on the decline. Total existing-home sales, which includes single-family homes, townhomes, condos and co-ops, fell 2 percent month-over-month to a seasonally adjusted annual rate of 5.88 million in August, according to the latest monthly report from the National Association of Realtors. On…

A tent set up on Venice Beach (Getty) The Los Angeles City Council wants to find more money for a rental subsidy program for the homeless, a growing problem the city has struggled to control. The Council voted unanimously this week to seek more funding for the program, which it operates in partnership with the…

Ashton Kutcher and Mila Kunis sell Hidden Valley property at 9588 Lime Orchard Rd (Hilton Hyland, Getty) Celebrity couple Mila Kunis and Ashton Kutcher are looking to sell the Hidden Valley mansion that they bought in 2014 shortly after getting engaged. The pair is asking $12.25 million for the 7,300-square-foot, East Coast-inspired home — about…

Bell Partners CEO Jon Bell and Bell Warner Center (Bell Partners, Bell Warner Center) A multifamily-focused investment firm based in North Carolina purchased a 394-unit apartment complex in Canoga Park, its third lard multifamily acquisition in Los Angeles County. Bell Partners acquired Hanover Warner Center at 21050 Kittridge Street. The complex will be renamed Bell…

Blueground CEO Alex Chatzieleftheriou (Getty, LinkedIn via Chatzieleftheriou) Blueground, the rental startup forced during the pandemic to scale back expansion plans, raised $140 million in Series C equity financing and $40 million of debt, valuing the company at $750 million. Existing investor Laurence Tosi’s WestCap Group led the round, which included billionaire Geolo Capital, John…

(Getty) A Freddie Mac study of 12 million appraisals showed a gap between valuations of homes in mostly Black and Latino areas and those in white ones, the latest evidence of racial disparity in the housing industry. The mortgage giant analyzed home purchase appraisals from 2015 to 2020 and compared them to contract prices. The…

Renderings of the project and Brookfield Properties Managing Partner and CEO Brian Kingston (Brookfield, Los Angeles Department of Building & Planning) The perfect home for those who wish to live steps from a Dave & Buster’s will soon be a reality. Brookfield Properties has filed plans to convert a portion of the Northridge Fashion Center’s…