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Month: November 2022

Mystery buyer revealed for $43M Laguna Beach mansion

ServiceNow’s William “Bill” McDermott and 2431 Riviera Drive (Compass, Getty) The mystery buyer of a 10,000-square-foot beachside mansion in Laguna Beach for $43 million last year has been revealed. William “Bill” McDermott, CEO of ...

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  • 29 Nov
  • The Real Deal
  • Uncategorized
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CIM Group adds to apartment portfolio in South LA

CIM’s Richard Ressler, Avi Shemesh and Shaul Kuba with rendering of 3022 South Western Avenue (CIM Group, Nadel Architects) CIM Group aims to build a 114-unit apartment complex in Jefferson Park, adding one more development to an ...

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  • 28 Nov
  • The Real Deal
  • Uncategorized
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Cruzan sells Laguna Hills office complex for a loss

Kingsbarn’s Jeff Pori and Cruzan’s Dennis Cruzan and with 23332 Mill Creek Drive (Kingsbarn Real Estate Capital, Cruzan, LoopeNet) Cruzan’s first acquisition in Orange County didn’t go so well. The firm sold the 223,000-square-foot ...

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  • 28 Nov
  • The Real Deal
  • Uncategorized
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Real Estate Development Associates eyes 2.9M sf warehouse hub in IE

Real Estate Development Associates’ Jason Krotts and Bill Goltermann; South Ontario Logistics Center, Euclid and Merrill Avenues, Ontario (Real Estate Development Associates, Getty) Real Estate Development Associates aims to build a ...

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  • 28 Nov
  • The Real Deal
  • Uncategorized
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Foreclosure auction for 444 South Flower Street delayed

444 South Flower Street (Getty, Joe Collver/CC BY-SA 3.0/via Wikimedia Commons) A foreclosure auction for Coretrust’s 444 South Flower tower in Downtown L.A. has been delayed, The Real Deal has learned. Oaktree Capital, a mezzanine ...

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  • 28 Nov
  • The Real Deal
  • Uncategorized
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Prologis to build 8-acre studio production campus in DTLA

Prologis’ Hamid Moghadam and rendering of 1716 E. 7th Street (Prologis, Getty, Jackson Liles) Prologis, a global builder of industrial warehouses, wants to take a Downtown Los Angeles bus into Hollywood. The San Francisco-based ...

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  • 28 Nov
  • The Real Deal
  • Uncategorized
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LA developer doubled as abusive porn director, documentary alleges

(Getty Images) Documentary filmmakers claim that a Los Angeles real estate developer described as a “bundler” of campaign donations with connections to now-U.S. Rep. Tony Cardenas (D-Calif.) and U.S. Sen. Alex Padilla (D-Calif), led a ...

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  • 27 Nov
  • The Real Deal
  • Uncategorized
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Geoff Palmer’s lawsuit over tenant protections tossed by judge

Developer Geoff Palmer with one of his properties (Getty, G.H. Palmer Associates)   A federal judge has dismissed billionaire developer Geoff Palmer’s lawsuit that challenged Los Angeles’ COVID-19 emergency eviction moratorium, the Los ...

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  • 26 Nov
  • The Real Deal
  • Uncategorized
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Los Angeles rents rise 11% for two-bedroom apartments

(Getty; Illustration by The Real Deal) Rents have increased about 11 percent for a two-bedroom apartment in Los Angeles, according to a year-to-year index comparison by apartment listing site Zumper. Nationally, Los Angeles remained at ...

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  • 23 Nov
  • The Real Deal
  • Uncategorized
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Minnesota Vikings owners buy Westlake Village offices

Minnesota Vikingas owner Zygi Wilf and 5655 Lindero Canyon Road in Westlake Village, CA (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Nasch Properties) Zygi and Mark Wilf, the billionaire owners of NFL team ...

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  • 23 Nov
  • The Real Deal
  • Uncategorized
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