Month: July 2024

Tejon Ranch wants to more than double the size of its retail outlets and warehouses near the bottom of the Grapevine south of Bakersfield — paid for by a $61.6 million municipal bond. The largest private landowner in the state is tapping the municipal bond market to expand its Tejon Ranch Commerce Center at 5205…

The co-founder of Tinder and his brother have made a block-size retail and office play in Beverly Hills for up to $211 million. Justin Mateen, the Los Angeles-based co-founder of the dating app, and his brother Tyler have purchased the Wilshire Rodeo Plaza at 9536 and 9560 Wilshire Boulevard and 131 Rodeo Drive, according to…

A Pacific Palisades spec mansion was snapped up in a $32.3 million sale, marking the neighborhood’s priciest deal in more than a year. The trade of 538 Chautauqua Boulevard beats anything sold in the Palisades in 2023 and holds the record so far for 2024, Compass agent Jacqueline Chernov said. The six-bedroom, 12-bath mansion, which…

Florida spec developer Todd Glaser got exactly what he wanted with his latest Newport Beach purchase, ending a more than year-long wait to scoop up the house. Glaser closed on 1305 East Balboa Boulevard for $8 million, after buying a property about a block away earlier this year, both on the Balboa Peninsula.  Glaser’s resume…

Top Douglas Elliman broker Tracy Tutor was among the seven women who shared accounts outlining new allegations against Tal and Oren Alexander as the brothers ace mounting claims of rape and sexual assault. Tutor, who is based out of the brokerage’s Beverly Hills office, told the New York Times she recalls sharing a drink with…

A Chinese investor has bought the troubled 777 Tower in Downtown Los Angeles for $120 million. The unidentified buyer paid cash for the 1 million-square-foot, 52-story skyscraper at 777 South Figueroa Street, in the Financial District, the Commercial Observer reported, citing unidentified sources. The deal is expected to close in two weeks. Though Brookfield Properties…

A limited liability company tied to movie producers Steven Markoff and Elie Samaha has listed a hilltop perch containing the landmark Yamashiro restaurant in Hollywood. Samaka, based in Santa Monica, has put the 110-year-old Japanese Revival palace replica up for sale at 1999 North Sycamore Avenue, Bloomberg reported. While its owners reportedly seek $100 million…

A company tied to a Korean family has bought two country clubs in south Orange County for $121.6 million. Irvine-based STI USA, linked to the unidentified family that owns a mystery multinational conglomerate based in South Korea, bought the 36-hole Coto de Caza Golf & Racquet Club and the 18-hole Aliso Viejo Country Club, the…

A stalking horse bidder for Oceanwide Plaza has fallen through.  A group that was “identified” as a potential stalking horse bidder “did not meet deadlines” to submit a bid, according to lawyers for Oceanwide Plaza, speaking at a court hearing on Tuesday. The attorneys did not disclose the group’s name.  But the lawyers representing owner…

EGC Real Estate Group has cited a new state density bonus law to plan a larger apartment complex in L.A.’s Harvard Heights. The Hidden Hills-based developer led by Eitan Gonen has employed Assembly Bill 1287 to file revised plans to build a seven-story, 224-unit building at 1828 South Western Avenue, in Central Los Angeles, Urbanize…