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Month: May 2024

SoCal home price reaches record high $753K as transactions fall

Home prices across Southern California have ratcheted up to a record $753,000 as sales plunge. The price of a typical home in March rose 1.8 percent from the previous month, and 8 percent in a year, beating an April 2022 record by ...

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  • 03 May
  • The Real Deal
  • Uncategorized
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MicroVention Terumo pays $44M for office building in Aliso Viejo

MicroVention Terumo has bought an office building in Aliso Viejo for $44 million, or 45 percent less than its asking price. The locally based medical device maker picked up the nine-story, 242,700-square-foot building at 45 Enterprise, ...

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  • 02 May
  • The Real Deal
  • Uncategorized
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John Fogerty seeks $22M for former Stallone estate in Hidden Hills

Six months after he paid Sylvester Stallone $17.2 million for a 2.3-acre estate in Hidden Hills, John Fogerty wants to flip it for $21.5 million. The former frontman for Creedence Clearwater Revival behind such hits as “Proud Mary” and ...

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  • 02 May
  • The Real Deal
  • Uncategorized
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Brookfield extends $250M in loans on DTLA Figueroa at Wilshire tower

Brookfield Properties has pushed out the maturity of a $250 million loan tied to its Figueroa at Wilshire tower in Downtown Los Angeles, The Real Deal has learned.  The loan on the 52-story tower at 601 South Figueroa Street was set to ...

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  • 02 May
  • The Real Deal
  • Uncategorized
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Angelo Gordon closes LA’s priciest condo sale so far this year

TPG’s Angelo Gordon has sold a penthouse at its 8899 Beverly Boulevard condo project in West Hollywood for $24 million, marking the most expensive condo sale across Los Angeles in the last year.  The deal for the 6,500-square-foot ...

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  • 02 May
  • The Real Deal
  • Uncategorized
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Chris Cortazzo on how he became the biggest broker in Malibu

Driving down the Pacific Coast Highway in Malibu, it’s hard to miss Chris Cortazzo’s name.  The Compass broker is on the majority of listings in the affluent beachside enclave, whether the homes are up for rent or sale. The median ...

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  • 01 May
  • The Real Deal
  • Uncategorized
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Santa Monica’s reputation makeover

When Megan Watson, who runs development in Los Angeles for Grubb Properties, started planning an apartment project in Santa Monica, she prepared for a challenging road ahead. The city had a history of giving developers a hard time. ...

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  • 01 May
  • The Real Deal
  • Uncategorized
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99 Cents closures to open 3.8M sf of retail opportunities in SoCal 

The pending closure of 99 Cents Only Stores will leave a 3.8 million-square-foot hole in Southern California. The good news for landlords: the gap may be easy to fill. The Commerce-based discount chain, which filed for bankruptcy early ...

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  • 01 May
  • The Real Deal
  • Uncategorized
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Malibu agrees to get housing plan in order, but still vulnerable to builder’s remedy

The affluent coastal city of Malibu, known for celebrity beach homes and a challenging climate for new development, has agreed to get its housing plans in order.  Malibu’s settlement with the state will “enable the city to reach ...

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  • 01 May
  • The Real Deal
  • Uncategorized
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Brandywine Homes to build 95 infill townhomes in Pico Rivera

Brandywine Homes has won approval to swap out a hotel for 95 townhomes in Pico Rivera. The city has signed off on plans by the Irvine-based developer to build the homes at 6540 Rosemead Boulevard, Urbanize Los Angeles reported. The ...

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  • 01 May
  • The Real Deal
  • Uncategorized
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