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Month: July 2024

Venice nonprofit scores $65M in financing for affordable apartments in Inglewood

Venice Community Housing has landed up to $65 million in bond financing to build a 120-unit affordable housing complex in Inglewood. The Los Angeles County Board of Supervisors approved the funding for the 79,000-square-foot apartment ...

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  • 11 Jul
  • The Real Deal
  • Uncategorized
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Rose Equities pays $31M for Torrance offices slated for demo

Rose Equities has purchased an office building in Torrance with approved plans to replace it with a 272-unit apartment complex for $30.6 million. The Beverly Hills-based developer led by Leonard Glickman bought the 60,800-square-foot ...

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  • 11 Jul
  • The Real Deal
  • Uncategorized
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Signed contracts keep LA’s luxe market steady: Eklund Gomes

Summer slowdown? Not for Los Angeles’ luxury residential market.   Buyers signed 18 contracts for a total volume of about $107 million between July 1 and July 7, according to a report from Douglas Elliman brokerage team Eklund Gomes. ...

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  • 11 Jul
  • The Real Deal
  • Uncategorized
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Albertsons to sell off 63 California supermarkets ahead of Kroger merger trial

Albertsons is selling more than hot peppers and cold beer. The grocery chain is selling 63 supermarkets in California ahead of a trial to decide its pending merger with Kroger. Kroger released the full list of stores, distribution ...

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  • 11 Jul
  • The Real Deal
  • Uncategorized
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Alliant constructs 332-unit workforce development in Van Nuys thanks to transit incentives

Alliant Communities is building a 332-unit workforce and affordable apartment complex in Van Nuys. The Calabasas-based developer once known as Alliant Strategic Development is constructing the six-story complex at 7050-7068 North Van ...

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  • 10 Jul
  • The Real Deal
  • Uncategorized
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Pasadena’s “Knoll House” in contract as auction ends at $18M 

A buyer has emerged for a 1916 Colonial Revival estate in Pasadena, rich in California architectural history, The Real Deal has learned.  The Knoll House at 2 Oak Knoll Terrace, which went up for auction June 19, is now under contract ...

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  • 10 Jul
  • The Real Deal
  • Uncategorized
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SEC says Newport Beach investor lied to investors

In 2017, John Kralik opened up a fund for investors to pump money into fix-and-flip homes, mostly in Southern California.  The play was simple: buy distressed homes for between $750,000 and $1.5 million, renovate and flip them for a ...

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  • 10 Jul
  • The Real Deal
  • Uncategorized
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Malibu spec home from developer Scott Gillen trades for $61M  

Unvarnished founder Scott Gillen has nabbed the first buyer for his sprawling, five-estate Malibu spec community, called The Case, and is working to close a second.  The Malibu home, called The Edge, sold for $61 million, according to ...

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  • 10 Jul
  • The Real Deal
  • Uncategorized
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LA developer Philip Rahimzadeh eyes office demo to build apartments in Santa Ana

Core Development Group wants to demolish a 12-story office building in Santa Ana to make way for a 162-unit apartment complex. An LLC tied to the Los Angeles-based firm, run by Philip Rahimzadeh, has proposed razing the Wells Fargo ...

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  • 09 Jul
  • The Real Deal
  • Uncategorized
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Edward, Thomas Slatkin score $400M refi on Santa Monica hotels

The Slatkin brothers, Edward and Thomas, have refinanced two of their marquee hotels in Santa Monica, with $400 million in new debt.  The Slatkins, who run Edward Thomas Collections, scored a $280 million loan to back the 198-key ...

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  • 09 Jul
  • The Real Deal
  • Uncategorized
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