Month: January 2023

From left: Värde Partners’ IIfryn Carstairs and Hawkins Way Capital’s Ross Walker along with 525 Lexington (Getty, Värde Partners, Hawkins Way Capital, Google Maps) Hawkins Way Capital has picked up another shuttered hotel on Manhattan’s East Side. The Beverly Hills–based company and the investment firm Värde Partners acquired the former New York Marriott East Side…

Susan Phillips, a professor of environmental analysis and director of Pitzer College’s Robert Redford Conservancy for Southern California Sustainability and San Bernardino County Supervisor Curt Hagman with warehouses in San Bernardino county (Getty, San Bernardino county, Pitzer) Dozens of environmental, labor and community groups now seek a state moratorium on distribution warehouses in the Inland…

Michael Anthony Group’s Michael Biller with the Golden Shore project (LinkedIn, City of Long Beach) One of Long Beach’s biggest development sites has hit the market. Golden Shore, a roughly 6-acre, four-parcel waterfront site where a developer has proposed a luxury mixed-use project, is listed for sale by commercial brokerage Avison Young at an undisclosed…

Douglas Elliman’s John Stanaland, Coldwell Banker’s Teri Anderson, Oppenheim Group’sJason Oppenheim, Coldwell Banker’s Roddy de la Garza and The Keystone Group’s Evan McFadden (Coldwell Banker, Douglas Elliman, Oppenheim Group, The Keystone Group, Getty) John Stanaland Group recently started working with Douglas Elliman Realty’s Newport Beach office. The group comes from Villa Real Estate, where the…

Turnbridge Equities’ Andrew Joblon, Waterford’s John Drachman and Sean Rawson and Monument Square Investment’s Zac Leichtman-Levine with Mosaic housing development (Turnbridge Equities, LinkedIn, Waterford Property Company, Monument Square Investment Group) Developers will replace part of the vacant CityPlace Long Beach shopping center with a retail and housing village in Downtown. New York-based Turnbridge Equities, Newport…

Los Angeles Councilwoman Nithya Raman and Mayor Karen Bass (Getty, Nithya Rama/Public domain/via Wikimedia Commons) Los Angeles has passed a tenant protection package, including “just cause” eviction protections and a timeline for repaying back rent. The City Council also passed two provisions that required ordinances to be drafted and approved this week, the Los Angeles…

Oaktree’s Howard Marks with 444 S. Flower Street (Oaktree, Getty) Coretrust Capital Partners lost control of its prized 48-story Downtown Los Angeles office tower in foreclosure to Oaktree, according to a source familiar with the matter. Oaktree initiated the Uniform Commercial Code foreclosure for an equity stake at 444 South Flower Street, a 914,000-square-foot building…

2121 Avenue of the Stars and 555 West 5th Street (Brookfield Properties, Irvine Company) If you thought the roughly $10 billion in maturing CMBS debt tied to properties in Los Angeles and Orange counties last year was hefty, consider this year’s numbers. About $30 billion worth of CMBS debt tied to almost 400 commercial properties…

Lennar’s co-CEOs Rick Beckwitt and Jon Jaffe with Westridge Golf Club at 1400 South La Habra Hills Drive (Lennar, Westridge Golf Club) La Habra looms as the next battleground for the so-called “builder’s remedy” strategy, with a plan by Lennar to build 530 homes on a hillside golf course off limits to development. The Miami-based…

AIDS Healthcare Foundation’s Jonathan Eisenberg (NBCLA, Getty, Works Progress Architecture) A legal challenge at the state’s highest court could imperil construction projects tied to former Los Angeles councilman Jose Huizar, who has admitted taking bribes from developers. The AIDS Healthcare Foundation has filed an appeal to the California Supreme Court seeking to challenge permits for…