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Month: May 2024

Newport Beach OKs Intracorp, Picerne housing projects near JW Airport

Intracorp Homes and Picerne Group were given the go-ahead to replace offices near John Wayne Airport in Newport Beach with condominiums and apartments. In separate projects, Intracorp, based in Vancouver, was approved by the City ...

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  • 05 May
  • The Real Deal
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Millennium Partners scuttles $1B plan for highrises in Hollywood

Millennium Partners has killed a $1 billion plan to build highrises around the Capitol Records Building in Hollywood, a decade after active earthquake faults were found under the site. The New York-based investor withdrew its requests ...

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  • 04 May
  • The Real Deal
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WeWork negotiates to keep Long Beach, South Coast Plaza locations

WeWork has agreed to keep two more locations in Southern California — one in Long Beach and another at South Coast Plaza in Costa Mesa.  The coworking firm, which is currently making its way through bankruptcy, has filed motions to ...

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  • 04 May
  • The Real Deal
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LA City Council may save affordable apartments from mayor’s ED1

Los Angeles could soon protect rent-controlled apartments in a part of the city that could be bulldozed for streamlined affordable housing projects, displacing tenants who can’t afford to move. City Councilwoman Eunisses Hernandez has ...

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  • 04 May
  • The Real Deal
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California population grows with SoCal adding most residents

California’s first population decline has reversed course, with Southern California the epicenter for growth. The state population, which had declined since 2020, rose last year by 67,100 residents to 39.13 million people, driven ...

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  • 04 May
  • The Real Deal
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Christie’s recruits top Orange County agent Casey Lesher

Christie’s International Real Estate has recruited a top Orange County agent from Coldwell Banker, marking another high-profile get for the brokerage.  Casey Lesher has joined Christie’s on its Orange County team, according to an ...

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  • 04 May
  • The Real Deal
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Grandview Partners to sell LA portfolio of “suite-living” projects

Grandview Partners is se lling a portfolio of four “suite-living” apartment projects in Mar Vista, Westchester and East Hollywood, according to an offering memorandum compiled by their brokers at Kidder Mathews. The not-yet-constructed ...

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  • 03 May
  • The Real Deal
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Macerich posts $127M quarterly loss, looks to sell or exit properties

Mall owner Macerich is on the ropes, and may have to sell or surrender properties to tackle its debt. The Santa Monica-based real estate investment trust, owner of 47 million square feet strip and indoor malls across the U.S., posted a ...

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  • 03 May
  • The Real Deal
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Mohamed Hadid files for bankruptcy on Beverly Hills lot, owing $55M to creditors

Mohamed Hadid, the Los Angeles-based developer and reality TV personality, filed for bankruptcy last week on 2451 Summitridge Drive, his four-acre vacant lot in Beverly Hills — after incurring millions in IOUs.  Tree Lane LLC, the ...

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  • 03 May
  • The Real Deal
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FMB’s Ilan Kenig loses home to foreclosure, racks up $500K in credit card debt

Ilan Kenig, the CEO behind FMB Development, has lost his home in Pacific Palisades to his lender — and allegedly owes more than $500,000 in unpaid credit card debt.  Kenig signed a deed-in-lieu of foreclosure, handing over the nearly ...

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  • 03 May
  • The Real Deal
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