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Month: August 2022

Agents shift home price strategy as bidding wars deflate

Rochelle Atlas Maize, Derek Reilly, Cindy Carvel Vincent Vallejo, Derek Reilly, Cindy Carvel) Bidding wars for Los Angeles homes peaked last quarter, according to a Douglas Elliman report. With interest rate hikes slowing down the ...

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  • 22 Aug
  • The Real Deal
  • Uncategorized
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Amazon.com cuts two planned distribution centers in SoCal

Jeff Bezos (Getty) With online shopping slowing in the post-pandemic economy, Amazon.com has hit pause on 49 distribution warehouses across the U.S., including industrial sites in West Covina and Oceanside. The Seattle-based e-commerce ...

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  • 22 Aug
  • The Real Deal
  • Uncategorized
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Pacific Oak raises $95M on Israeli bond market

From left: Pacific Oak co-founders Keith Hall and Peter McMillan (Pacific Oak, Getty Images) Pacific Oak Strategic Advisors has found some fresh capital from Israeli investors. The L.A.-based real estate investment firm raised $95.1 ...

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  • 22 Aug
  • The Real Deal
  • Uncategorized
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“Egregious”: Residential broker found guilty of fraud

Realty World Capero’s Louis Teque (Louis Teque 2124, Superior Court of California, Illustration by Priyanka Modi for The Real Deal with Getty) The buying agent’s fraud was so bad, the jury determined, that they awarded punitive damages ...

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  • 22 Aug
  • The Real Deal
  • Uncategorized
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Steve Bochco’s estate in Pacific Palisades lists for $35M

Steven Bochco with 1575 Carpri Dr (Compass, Getty) A nearly 11,000-square-foot mansion in Pacific Palisades owned by the late TV producer Steven Bochco of “Hill Street Blues” fame has debuted on the market for $35 million. The ...

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  • 22 Aug
  • The Real Deal
  • Uncategorized
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Irvine Company sells Hotel Irvine for $135M

Hyatt’s Mark Hoplamazian with 17900 Jamboree Road (Hyatt Hotels, Trip.com) Orange County’s largest landlord has sold the largest hotel in Irvine for $135 million. The Irvine Company, based in Newport Beach, sold the 541-room Hotel ...

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  • 19 Aug
  • The Real Deal
  • Uncategorized
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Drew Fenton, Nick Segal file plans for resi brokerage

Drew Fenton (right) and Nick Segal (Getty, Nick Segal) The Los Angeles luxury real estate scene continues to go boutique. Drew Fenton, a top-producing agent with Hilton & Hyland, is striking out on his own in a new venture with ...

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  • 19 Aug
  • The Real Deal
  • Uncategorized
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3D Investments plans 20-story apartment building in Beverly Grove

3D Investments’s Joseph Daneshgar rendering at 6527-6535 Wilshire Blvd., Los Angeles (Abramson Architects, Orly Halevy) A local developer wants to bulldoze a 71-year-old office building in Beverly Grove and build a 20-story, mixed-use ...

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  • 19 Aug
  • The Real Deal
  • Uncategorized
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Caruso flap with Hackman centers on street at The Grove

From left: Rick Caruso and Hackman Capital Partners’ Zach Sokoloff (Getty, Hackman Capital) UPDATED, Aug. 19, 2022, 11:34 a.m.: A 1.8-million-square-foot project and it all comes down to a half-mile road. Caruso, the real estate firm ...

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  • 19 Aug
  • The Real Deal
  • Uncategorized
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Falling SoCal home sales caused by 46% rise in payments

(Illustration by The Real Deal with Getty Images) Looking for the cause behind SoCal’s home sales slowdown? Blame a record house payment of more than $3,300 to buy a typical home – a $1,000 increase from a year ago. The brake on ...

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  • 19 Aug
  • The Real Deal
  • Uncategorized
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