Month: January 2023

ELK’s Evan Kasper with 1410 North Highland Avenue (ELK Development, Google Maps, Getty) The general contractor on a project in Hollywood has sued ELK Development, claiming the company has failed to pay about a quarter the $23 million in general contractor and construction fees for a six-story apartment complex, according to a lawsuit filed last…

Rexford’s Howard Schwimmer and Michael Frankel, 16752 Armstrong Avenue (Getty, Rexford Industrial, Clive Wilkinson Architects) Rexford Industrial Realty has bought the 81,600-square-foot headquarters for Fox Racing in Irvine for $40 million. The Sawtelle-based real estate investment trust acquired the office and warehouse building at 16752 Armstrong Avenue, the Orange County Business Journal reported. The price…

From left: Side’s Guy Gal and DPP’s Mike Deasy and George Penner (Getty, DPP, Side) After an 18-month union with Side, luxury boutique firm Deasy Penner Podley/DPP has cut ties with the San Francisco-based white-label brokerage. DPP will return to handling brokerage services in-house. Last week, DPP changed its broker of record to Home As…

(Getty) The market with the biggest seesaw for home prices in California is the Inland Empire. The region making up Riverside and San Bernardino counties is home to the state’s largest swings in home values, according to an Orange County Register study. The Register tallied annual changes in home values in seven big California markets,…

Artist Guild Hotels’ Daniel Hyde and 34862 Pacific Coast Highway, Dana Point (Google Maps, LinkedIn) A bedraggled World War II-era motel overlooking Doheny State Beach in Dana Point is getting an end-to-end makeover. The 30-room Capistrano Seaside Inn, once listed among the nation’s 10 worst motels on Yelp, is being restored after new owners bought…

Montana Avenue Capital Partners Jeremy Rogers with 2777 North Ontario Street (Montana Avenue Capital Partners, Google Maps, Getty) Montana Avenue Capital Partners has bought a 127,100-square-foot entertainment campus in Burbank for $37 million. The Sawtelle-based investment firm acquired the office and industrial park at 2777 North Ontario Street, the San Fernando Valley Business Journal reported.…

Gov. Gavin Newsom (Illustration by The Real Deal with Getty) After years of record budget surpluses, California now faces a projected $22.5 billion budget deficit, Gov. Gavin Newsom announced last week. The governor nevertheless struck an optimistic tone. “We’re keeping our promises,” he said at a press conference. He also described the projected deficit, which…

Aaron Spelling with Spelling Manor (Getty, Atwater Village Newbie CC BY 2.0 via Wikimedia Commons) Spelling Manor’s claim to the Los Angeles market’s priciest listing continues to slip. The palatial Holmby Hills estate, located at 594 South Mapleton Drive, took the title in 2019, when it sold for $120 million to its current unnamed owner,…

From left: UC Regents’ Jagdeep Singh Bachher and Blackstone’s Stephen A. Schwarzman with UCLA and UC Berkeley (Getty, Blackstone, University of Waterloo) Unions representing 110,000 workers at 10 University of California campuses have demanded the system divest $4 billion in holdings from Blackstone’s real estate investment trust. The demand comes based on the idea that…

Swickard Auto Group’s Jeff Swickard with 1201 Kettering Drive (Swickard, Getty) Swickard Auto Group has bought a nearly 23-acre Toyota dealership in the Inland Empire for $40 million. The Oregon-based auto group bought John Elway’s Crown Toyota at 1201 Kettering Drive in Ontario, the Commercial Observer reported, citing Vizzda. The seller was EP Properties, based…