Month: April 2022

Hollywood star Reece Witherspoon has sold the Brentwood mansion she purchased about two years ago for more than $5 million more than she paid for it. The Wall Street Journal is reporting that the star of “Legally Blond” has let go of the English Country-style home for $21.5 million after less than one month on…

Lee Iacocca and 10614 Chalon Road in Bel Air (Getty, Compass) An 10,600-square-foot Bel-Air mansion once owned by the late auto industry legend Lee Iacocca has been listed for $32 million. Iacocca, who is largely credited with spearheading development of the Mustang for Ford in the 1960s, and known for saving Chrysler from bankruptcy in…

Enterprise Community Partners’ Priscilla Almodovar and 311-345 N. Beacon Street (Getty Images, iStock, Adobe Communities) A nonprofit affordable housing developer has secured $22.4 million in financing for a 90-unit supportive housing complex for homeless and disabled residents in San Pedro. Maryland-based Enterprise Community Partners has obtained a low-income housing tax credit investment for the development…

Kilroy Realty CEO John Kilroy (Getty, Kilroy Realty) Social: Kilroy Realty is raking in a profit, even as it sees a slight dip in occupancy across its properties, @isabella_farr reports ART: Kilroy Realty CEO John Kilroy, Indeed Tower in Austin Kilroy Realty is raking in a profit even as it sees a slight dip in…

Breakthrough Properties’ Dan Belldegrun, Tishman’s Rob Speyer and Bellco Capital’s Rebecka Belldegrun (Breakthrough Properties, Tishman, Bellco Capital) A joint venture between Tishman Speyer and Los Angeles-based biopharmaceutical investment firm Bellco Capital has raised $3 billion to develop and buy life science properties across the U.S. and Europe. The limited partnership, dubbed Breakthrough Properties, raised the…

1912 Whitley Avenue, 1823 Grace Avenue, 6600 Yucca Street, and 6651 Franklin Avenue (Redwood Urban, iStock) Redwood Urban, a Los Angeles-based landlord, has scored a $108 million refinancing package for 400 units across Beverly Hills, Hollywood and Long Beach. The firm got the financing through Fannie Mae’s credit facility program, according to commercial mortgage firm…

From left: Mayoral candidates Rick Caruso and Karen Bass in front of Los Angeles City Hall at 200 North Spring Street (Getty Images, iStock) The barrage of TV ads, mailers and online plugs behind commercial real estate developer Rick Caruso’s run for Los Angeles mayor has been fueled by more than $22 million of his…

Assemblymember Cristina Garcia (Cristina4Congress, iStock/Photo Illustration by Steven Dilakian for The Real Deal) While inventory-strapped California grapples with an escalating battle over the new signature zoning law SB 9, a very different, contentious bill aimed at boosting the supply of residential housing is advancing through the state legislature. Assembly Bill 1910, which was introduced in…

Pacific6 founding partner John Molina with Ocean Center Building at 110 West Ocean Blvd. in Long Beach (Google Maps, LinkedIn) Long Beach-based Pacific6 Enterprises has secured $55 million in financing to complete an environmental upgrade to its century-old Ocean Center Building near downtown. X-Caliber Funding, a subsidiary of X-Caliber Capital, and CastleGreen Finance provided the…

Hudson Pacific Properties’ Mark Lammas and Harout Diramerian (Hudson Pacific, iStock, RIOS) A top executive of Hudson Pacific Properties shrugged off Netflix’s recent slowdown on revenue growth as a factor in a quarterly stumble on earnings, saying demand for content creation is higher than touting the tenant base behind his company’s ongoing push into studio…