Month: November 2022

Former L.A. City Councilman Jose Huizar (Charlie Kaijo/CC BY 2.0/via Wikimedia Commons, Getty) Just two years after a federal grand jury indicted China-headquartered development firm Shen Zhen New World I for racketeering charges stemming from an investigation of former Los Angeles City Councilman José Huizar, a jury on Nov. 10 found the company guilty of…

Pasadena Councilwoman Jess Rivas & mayor Victor Gordo (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, City of Pasadena) A rent control ballot measure in Pasadena was leading Thursday by 129 votes. Measure H, which would tie Pasadena rent increases to consumer prices for gas, food and more, was leading 50.3 percent…

Carolwood Executives (L-R) Drew Fenton, Ed Leyson, Nick Segal (Carolwood) Carolwood, a startup boutique residential firm staffed by many agents who previously worked at influential brokerage Hilton & Hyland, has officially launched. Company website Carolwoodre.com went live on Nov. 9. The web presence started after Hilton & Hyland star broker Drew Fenton and his partners…

DJM Capital’s D. John Miller, PGIM’s David A. Hunt with a rendering of 7777 Edinger Avenue in Huntington Beach (DJM Capital, LinkedIn) DJM Capital and PGIM aim to plant a 300-unit apartment complex at a shopping center they own in Huntington Beach. The San Jose-based developer and the real estate arm of Prudential Financial, based…

Greenland Holdings’ Zhang Yuliang and Northland’s Matthew Gottesdiener with the THEA at Metropolis at 1000 W. 8th Street in Los Angeles (TheaDTLA, LinkedIn, Getty) A few months into the pandemic, Northland presented the Chinese developer Greenland’s U.S. subsidiary with an unattractive proposal. The Boston-based private equity firm offered $550 million for one of Greenland’s trophy…

KB Home’s Jeffrey Mezger & KB Home’s Shadow Mountain in Menifee (KB Home, Linkedin, Getty, KB Home/CC BY-SA 4.0/via Wikimedia Commons) KB Home has big ambitions for tiny dwellings. The developer aims to build the state’s first all-electric, solar- and battery-powered “microgrid community” of single-family homes, to be located in the Inland Empire. The Westwood-based…

Sue Gross with 960 N. Alpine Dr (Hoag Hospital, Altman Bros) Sue Gross made headlines a few years ago with her divorce from billionaire fund manager Bill Gross, who founded Pimco in Newport Beach. Since then, Sue Gross has distinguished herself as a luxury real estate investor, and she recently unloaded one of her properties…

(Illustration by The Real Deal with Getty) With plenty of votes still uncounted, initial results show strong support for Measure ULA, a controversial transfer tax that could reverberate through the city of L.A.’s commercial and luxury residential markets for years. The measure on Tuesday’s ballot would add a 4 percent tax on property sales within…

Karen Bass and Rick Caruso (Getty) Real estate developer Rick Caruso leads Rep. Karen Bass by a hair in a costly race for Los Angeles mayor, as incumbent Eric Garcetti steps down from office. The billionaire led with 51.25 percent of the vote early Wednesday, with the congresswoman trailing at 48.75 percent, among the 500,000…

TRJLA’s Kevin Chen and rendering of major Chinatown project (Loopnet, Getty, Linkedin) Two years ago, a development firm led by the former fashion entrepreneur Kevin Chen filed plans for a major mixed-use project in Chinatown. Now, weeks after securing entitlements, Chen’s TRJLA is courting investors. The firm is “evaluating strategic alternatives to develop the project,”…