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Month: June 2024

Wiseman Residential plans another apartment complex in LA’s Palms

Wiseman Residential is on a tear as it plots its third mixed-use project along a strip of Motor Avenue running through Palms. The Los Angeles-based developer aims to use incentives under the Exposition Corridor Transit Neighborhood ...

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  • 10 Jun
  • The Real Deal
  • Uncategorized
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Federal Realty sells Third Street Promenade storefronts for $103M

Federal Realty Investment Trust has cashed out of Santa Monica’s Third Street Promenade.  The Bethesda, Maryland-based real estate investment trust has sold eight buildings on Third Street Promenade, just a quarter-mile from the beach, ...

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  • 09 Jun
  • The Real Deal
  • Uncategorized
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Erewhon owners emerge as buyers of $23M Bel-Air mansion

Add a Bel-Air estate to the growing Southern California real estate portfolio of Erewhon owners Anthony and Josephine Antoci. The couple behind the ritzy organic and wellness grocer paid $22.5 million for the mansion at 755 Sarbonne ...

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  • 09 Jun
  • The Real Deal
  • Uncategorized
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TrueCar exits HQ lease at Mani Brothers’ building in Santa Monica, alleging “construction failures”

TrueCar, an online car marketplace and listing site, has terminated its lease for its corporate headquarters at a Mani Brothers-owned building in Santa Monica, alleging that the space became “unsuitable for use,” because of a series of ...

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  • 09 Jun
  • The Real Deal
  • Uncategorized
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Bonnis Properties defaults on LA’s Foreman & Clark hotel leased to Sonder

Canadian investment firm Bonnis Properties has defaulted on a loan tied to the Foreman & Clark building in Downtown Los Angeles, a multifamily property currently occupied by short-term rental startup Sonder, The Real Deal has ...

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  • 08 Jun
  • The Real Deal
  • Uncategorized
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Tishman Speyer kills 10-story office project in DTLA’s Arts District

Tishman Speyer has shredded longtime plans to build a 10-story office building in L.A.’s Arts District, given the topsy-turvy market for downtown offices. The New York-based developer led by Rob Speyer has quietly let its application ...

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  • 08 Jun
  • The Real Deal
  • Uncategorized
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SoCal lawmaker hits pause on repeal of voter OK for public housing

A Santa Monica lawmaker wants to pull a measure that would repeal a 74-year-old constitutional rule that hampers public housing. State Sen. Ben Allen, D-Santa Monica, author of the repeal measure for Article 34 in the state’s ...

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  • 07 Jun
  • The Real Deal
  • Uncategorized
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Feds put “ziggurat building” back on auction block in Laguna Niguel 

Uncle Sam is once again putting the Brutalist office pyramid known as the Ziggurat up for auction in Laguna Niguel, this time without a requirement to preserve it. The General Services Administration said it would accept bids starting ...

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  • 07 Jun
  • The Real Deal
  • Uncategorized
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Crown Pointe confirms “net zero” appetite with $29M Malibu sale

Eco-conscious developer Crown Pointe Estates at Malibu just bested itself with the $28.5 million sale of its net-zero carbon spec home. The transaction marks the second property sold in what Crown Pointe calls its Zero Series of ...

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  • 07 Jun
  • The Real Deal
  • Uncategorized
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Co-owner of Newport Beach investment firm gets probation for $14M real estate scam

The co-owner of a Newport Beach-based investment firm who bilked investors out of nearly $14 million through bogus real estate deals will walk free without a day in prison. Louis Zimmerle, 64, a co-owner of BNZ Capital, was sentenced ...

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  • 07 Jun
  • The Real Deal
  • Uncategorized
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