Month: January 2023

Richman Group’s Richard Richman, National CORE’s Steve PonTell, Century Housing’s Ronald M. Griffith; One San Pedro (One San Pedro, Getty, Richman Group, National CORE, Century Housing) One San Pedro Collaborative is poised to redevelop Rancho San Pedro, a Los Angeles-owned public housing complex built in San Pedro during World War II, with 1,553 homes. The…

Oaktree Capital’s Howard Marks and 219 South Mapleton Drive in Holmby Hills (Getty, Oaktree Capital, Hilton & Hyland) Billionaire Oaktree Capital co-founder Howard Marks has left Mapleton Drive in Holmby Hills, the same street where the sprawling Playboy Mansion is located. Marks, estimated by Forbes to have a net worth of $2.2 billion, sold 219…

(Illustration by Priyanka Modi for The Real Deal with Getty) Double-digit rent increases in Orange County have hit the wall. Rent hikes as steep as 30 percent in OC since 2020 have plateaued, with average apartment rents sliding 2.5 percent over the last four months to $2,540 per month, the Orange County Business Journal reported,…

HFH’s William Allen; 217 S Barranca St, West Covina (Loopnet, HFH, Getty) HFH Limited, a family office linked to the descendants of one of the founders of Cedars-Sinai Medical Center, bought the South Hill Apartments in West Covina for $38.3 million. The property, located at 217 South Barranca Street, is a 106,000-square-foot complex with 85…

LA Mayor Karen Bass (Getty) UPDATED, Jan. 24, 2023, 5:04 p.m.: The Los Angeles City Council passed a new set of renter protections last week, requiring landlords to pay moving assistance fees for evicted persons in some cases, and outlining specific situations under which landlords can actually file for eviction. The new ordinances mark the…

Holos Communities’ Cristian Ahumada, Jamboree Housing’s Laura Archuleta (Holos Communities, Jamboree Housing, Getty) The City of Long Beach has loaned a combined $6.1 million to two developers to build separate affordable housing projects with 192 apartments, mostly for homeless residents. The city and its nonprofit housing affiliate, the Long Beach Community Investment Company, cleared the…

14180 Rustic Lane, Pacific Palisades (Google Maps, Getty) Once listed for $37.5 million, a 3,600-square-foot Pacific Palisades house with a bomb shelter that was converted into a wine cellar recently sold for $24.5 million. On the market since July, the listing at 14180 Rustic Lane went through about three price cuts until it sold on…

Compass’ Scott Tamkin with Senderos Canyon (USC Annenberg, Senderos Canyon, Getty) A 263-acre undeveloped canyon in Bel-Air has listed for a minimum bid of $39 million, or 70 percent off its original asking price. An unidentified seller has put Senderos Canyon up for auction as a potential site for homes, a vineyard, an equestrian center…

RBM’s Hiro Kobayashi with 11264 La Grange Avenue (LinkedIn, Google Maps, Getty) Whitewater Films has sold its nearly 22,000-square-foot office headquarters in West Los Angeles for an undisclosed price. The Sawtelle-based entertainment firm sold four parcels at 11264 La Grange Avenue in Sawtelle’s Japantown, the Los Angeles Business Journal reported. The buyer was RBM of…

LA Offices vs LA Warehouses (Illustration by Priyanka Modi for The Real Deal with Getty) Los Angeles office cubicles struggle to find occupants, while the market’s warehouses are crammed with e-commerce goods. The vacancy rate for L.A. County offices rose to 16.5 percent in the third quarter, while warehouse vacancies fell to 0.9 percent since…