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Month: February 2024

“Selling Sunset” star Adnan Sen sells Beverly Hills estate for $31M

Adnan Sen, the developer and founder of Beverly Hills-focused luxury real estate firm Sen Properties, has sold the property known as the Laurel House for $31 million, according to a Zillow listing. The nearly 1-acre estate, located at ...

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  • 29 Feb
  • The Real Deal
  • Uncategorized
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New American Funding owners buy Santa Ana offices for $31M

The owners of New American Funding bought a 208,300-square-foot office tower in Santa Ana for $31 million — or $23 million less than what it traded for five years ago. An unidentified LLC headed by New American’s co-founder, Rick ...

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  • 29 Feb
  • The Real Deal
  • Uncategorized
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Developer allegedly defaults on planned 200-home Calabasas project site

Solar farm developer Clinton Brown has allegedly defaulted on a loan at a Calabasas site where he wants to build a 200-home subdivision, The Real Deal has learned.  The property, at 27250 Agoura Road, is currently on the market for $29 ...

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  • 29 Feb
  • The Real Deal
  • Uncategorized
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LA authorizes master leases with apartment owners

Los Angeles wants to become a landlord and sublease apartments to homeless residents. The City Council voted to launch a “master leasing” program to lease all or part of an apartment building, then sublease units to homeless residents ...

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  • 29 Feb
  • The Real Deal
  • Uncategorized
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WeWork to ditch 92K sf at Gas Company Tower in Downtown LA

Bankrupt WeWork will exit a landmark office location in Downtown Los Angeles. The New York-based co-working firm is vacating nearly 92,000 square feet of offices after failing to cut a deal with the manager of the Gas Company Tower at ...

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  • 29 Feb
  • The Real Deal
  • Uncategorized
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California court decision could stymie CEQA as construction blocker

An appeals court ruling could block environmental laws from being used to thwart some housing and commercial projects. A state appellate court issued a ruling this month that, if not overturned by the state Supreme Court, would make it ...

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  • 29 Feb
  • The Real Deal
  • Uncategorized
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Good news/bad news: LA’s office market finds bottom 

For investors waiting until the price of office buildings in Los Angeles drops to bedrock, the time may have arrived. A recent smattering of sales points to a new price floor for office buildings in the market.  “There’s some comfort ...

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  • 29 Feb
  • The Real Deal
  • Uncategorized
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Urban Stearns and Forbix score $18M loan for San Pedro conversion

Urban Stearns and Forbix have secured a $17.5 million loan to begin converting a 12-story office building in San Pedro into more than 200 homes. The Culver City- and Calabasas-based investors secured the bridge loan to launch ...

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  • 28 Feb
  • The Real Deal
  • Uncategorized
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Hollywood heavyweights drop $15.5M to buy Fox Village Theatre

The show must go on. A group of 35 famous filmmakers spent $15.5 million to purchase the Fox Village Theatre in Westwood, The Real Deal has learned.  Producer Jason Reitman rallied the filmmakers — including Steven Spielberg, ...

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  • 27 Feb
  • The Real Deal
  • Uncategorized
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Joseph Daneshgar-led firm pays $28M for 18 apartments in Westwood

A limited liability company tied to Joseph Daneshgar has bought an 18-unit luxury apartment complex in Westwood for $28 million — or $1.6 million per unit. Brea JD, based in Beverly Hills, purchased the Utama Royale at 10351 Wilshire ...

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  • 26 Feb
  • The Real Deal
  • Uncategorized
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