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Month: May 2024

Donald Bren’s Resort at Pelican Hill will become a St. Regis

Donald Bren’s The Resort at Pelican Hill in Newport Beach will become a St. Regis.  The sprawling resort, including the Pelican Hill Golf Club, will be managed by Marriott International under its luxury group starting on July 1. The ...

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  • 23 May
  • The Real Deal
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Armanino leases full office floors in Century City and Irvine

Armanino has leased 46,000 square feet of offices from the Irvine Company in buildings in Century City and Irvine. The San Ramon-based consulting firm leased 23,500 square feet at 2121 Avenue of the Stars in L.A.’s Century City and ...

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  • 23 May
  • The Real Deal
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David Pourbaba plans 90-unit complex on LA’s Melrose Avenue

David Pourbaba, CEO and founder of 4D Development and Investment, has applied for a permit to build a six-story, mixed-use complex in the Beverly Grove section of Los Angeles, city documents show. The building will consist of 90 ...

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  • 23 May
  • The Real Deal
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Investors sue TA Partners for fraud on bankrupt Playa Vista project

In 2021, Johnny Lu and Yaojan Liu were raising money from investors to build 452 apartments in Playa Vista, on the edge of the 405 freeway. The two men behind TA Partners already had some financing — a $13.5 million loan from local ...

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  • 23 May
  • The Real Deal
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Movers: Marcus Skenderian returns to Compass

Marcus Skenderian, a residential broker working in Laguna Beach since 2005, is rejoining the publicly listed brokerage Compass during a pivotal year for the company. Skenderian worked for Compass for about two years, leaving in ...

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  • 23 May
  • The Real Deal
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South Coast Plaza in Costa Mesa snags Bulgari, Cartier and Gucci

South Coast Plaza in Costa Mesa, has landed Bulgari, Cartier and Gucci as tenants. The shopping center, owned by locally based C.J. Segerstrom & Sons, has leased more than 30,000 square feet to the luxury global brands at 3333 ...

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  • 23 May
  • The Real Deal
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Median price for a California home soars past $900K, a record

The price of a typical home across the Golden State has surpassed $900,000, a record. The median price for an existing single-family house in California reached $904,210 in April, a first, the Orange County Register reported, citing a ...

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  • 22 May
  • The Real Deal
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Retail vacancy hits 25% on Santa Monica’s Third Street Promenade

Santa Monica’s Third Street Promenade once hosted with multitudes of shoppers, people watchers and patrons of street performers a couple of blocks from the beach. Though an estimated 10 million people a year head down to Santa Monica ...

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  • 22 May
  • The Real Deal
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LA cracks down on illegal hostels in low-density neighborhoods 

Illegal hostels are opening up in Los Angeles neighborhoods, where residents say passing-through tenants have brought crime, drug use, noise and unsafe streets. The hostels, associated with backpackers and young travelers willing to ...

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  • 22 May
  • The Real Deal
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Crystal Asset falls behind on $49M loan tied to Moreno Valley apartments

Crystal Asset Management, the Beverly Hills-based apartment owner run by Sol Rabin, is delinquent on a $49 million loan tied to a multifamily property in Riverside County, as rising interest rates have squeezed profits.  The firm is 30 ...

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  • 22 May
  • The Real Deal
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