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Month: May 2024

Hidden Encino compound with five houses asks $27M

A rustic 2.1-acre estate in Encino with an equestrian bunkhouse and stables has returned to the market for $26.5 million — $8.4 million off its initial asking price. An unidentified seller has listed the 12-bedroom, 10-bathroom ...

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  • 12 May
  • The Real Deal
  • Uncategorized
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Douglas Emmett reports 20% office vacancy, despite record renewals

Forget the small stuff. For office landlord Douglas Emmett, it’s the big office tenants that are hurting the bottom line. For the Santa Monica-based real estate investment trust, a wave of leasing deals with smaller tenants and a ...

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  • 12 May
  • The Real Deal
  • Uncategorized
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Weingart Center pays $27M for Cheviot Hills assisted living facility

Housing nonprofit Weingart Center has closed a $27.3 million acquisition of a 76-unit assisted living facility in Cheviot Hills, with plans to turn the site into a homeless shelter, The Real Deal has learned.  The property, at 3340 ...

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  • 11 May
  • The Real Deal
  • Uncategorized
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Couple sues LA for right to demolish Marilyn Monroe’s former home

UPDATED MAY 9 at 1:30 p.m.: A Los Angeles lawsuit entangles a television producer, a city with deep pockets and a Brentwood home once owned by Marilyn Monroe, whose life ended in a back bedroom. Real estate heiress Brinah Milstein Bank ...

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  • 11 May
  • The Real Deal
  • Uncategorized
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Oceanwide puts graffiti-covered towers up for sale in DTLA

Name your price for three partially built skyscrapers slathered with graffiti in Downtown Los Angeles. China-based Oceanwide Holdings, which sank $1.2 billion to develop Oceanwide Plaza before abandoning it to the whims of taggers, has ...

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  • 10 May
  • The Real Deal
  • Uncategorized
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Neil Shekhter’s WS Communities looks to sell a third of its LA apartments

Neil Shekhter’s WS Communities is looking to sell 11 apartment buildings in Santa Monica, months after losing about half its portfolio to lenders, The Real Deal has learned.  WS Communities has tapped a JLL team led by Blake Rogers to ...

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  • 10 May
  • The Real Deal
  • Uncategorized
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AvalonBay and Abode hit funding shortfall for West LA Civic Center

A plan by AvalonBay Communities and Abode Communities to replace a Mid-Century Modern courthouse complex with a retail village in West Los Angeles may fizzle for lack of financing. Los Angeles Councilwoman Traci Park has filed a motion ...

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  • 10 May
  • The Real Deal
  • Uncategorized
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Cypress Equity eyes 288-unit apartment complex in Santa Monica

Cypress Equity Investments wants to replace a former Honda dealership with a 288-unit apartment complex in Santa Monica. The Brentwood-based developer led by Michael Sorochinsky has filed plans to build two eight-story buildings at ...

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  • 10 May
  • The Real Deal
  • Uncategorized
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Pace of real estate hiring slows across Southern California

Sluggish home sales and construction in the wake of higher interest rates have pumped the brakes on Southern California real estate hiring. Property-linked companies have cut their seasonal hiring pace by more than a third in March for ...

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  • 09 May
  • The Real Deal
  • Uncategorized
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Clarion Partners sells Playa Vista apartments at slight discount

Clarion Partners has sold an apartment complex in Playa Vista for $122 million, a price that technically amounted to a discount after the city took its 5.5 percent tax on the sale under Measure ULA, The Real Deal has learned.  San ...

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  • 09 May
  • The Real Deal
  • Uncategorized
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