Month: April 2022

Michael Eisner, former CEO, Disney, in front of his cliffside Malibu estate (Ramsa Houses, Ed Schipul, CC BY-SA 2.0 – via Wikimedia Commons, iStock) Former Disney CEO Michael Eisner is listing his cliffside Malibu estate for $225 million – and a price anywhere close would be the most expensive home sold in the history of…

Arman Gabaee with 12000 Hawthorne Blvd (Daily Breeze) A Beverly Hills developer has agreed to plead guilty to bribing a Los Angeles County official in exchange for help in securing a government lease worth $45 million in the Hawthorne Plaza mall Arman Gabaee, 61, also known as Arman Gabay, is scheduled to enter his plea…

Marymount President Brian Marcotte with Marymount University (Marymount University California, Google Maps, iStock) The pending closure of a university in Rancho Palos Verdes — and potential availability of its very scenic, bluffside campus — has the industry buzzing. What else to do when a prime 21-acre piece of land between a five-star luxury resort and…

Vernon Mayor Leticia Lopez (iStock, City of Vernon) The City of Vernon, a vibrant industrial enclave in the heart of Los Angeles County, has just 222 homes – but that’s about to change, according to a new plan. The city known for its manufacturing and rendering plants southeast of Downtown Los Angeles has launched an…

From left: Harry Sidhu, mayor of Anaheim; Art Moreno, owner, Los Angeles Angels; Rob Bonta, state attorney general (Getty Images, City of Anaheim, iStock) The City of Anaheim will spend $123 million to build affordable housing as part of a settlement for breaking a state law in its controversial sale of Angel Stadium. California Attorney…

3377 West Olympic Blvd (Google Maps) A developer based in Koreatown recently submitted an application with city planners for a seven-story apartment building with 4,700-square-feet of retail space on the ground floor in the mid-city district. The project proposed by Bando Dela Corp. is at 3377 W. Olympic Boulevard, between South Gramercy Place and South…

Kaiser Aluminum’s Keith Harvey with 1550 West McEwen Drive (Insider Trades, Google Maps) Kaiser Aluminum has moved its headquarters from Orange County to suburban Nashville, the Orange County Business Journal reported. The 76-year-old company relocated 70 executives from a 36,000 square-foot office in Foothill Ranch to the Volunteer State in the last few weeks, according…

8201 Bellgave Place (Williams & Williams Estates) A Los Angeles luxury home designed by a South African architecture firm with some newfound Hollywood chops has cut $8 million off its asking price. The property at 8201 Bellgave Place in the Hollywood Hills is now listed for $39.9 million, according to real estate websites Redfin and…

Blackstone’s Kenneth Caplan and Kathleen McCarthy with 200 Old Ranch Road (Blackstone, Google Maps, iStock) Blackstone has scored a $2.2 billion refinancing package for a portfolio of 89 industrial properties across the U.S. previously owned by WPT Industrial REIT, The Real Deal has learned. Goldman Sachs, Bank of America and Bank of Montreal provided the…

Ed Scheetz and Ian Schrager with the Standard Hotel (Getty, Los Angeles, CC BY-SA 3.0, via Wikimedia Commons) The former Standard Hotel on Hollywood’s Sunset Strip is officially a landmark — a status that pays homage to its past but could complicate its future. The City of West Hollywood’s preservation commission unanimously voted to give…