Month: July 2024

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 complex at 400 Centinela Avenue, Urbanize Los Angeles and the Commercial Observer reported. It would replace “existing improvements” on a…

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 office property at 2325 Crenshaw Boulevard, Bisnow reported. The seller was Optimus Properties, based in Century City. Anthony Muhlstein and a…

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. The report counts homes in Los Angeles County listed at $4 million and above that go…

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 centers and plants, including 63 supermarkets in California it plans to divest to secure approval for the…

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 Nuys Boulevard and 14431 West Vose Street, Urbanize Los Angeles reported. The L-shaped apartment building known as VOSE will include 332 studio, one-…

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 after bidding closed Tuesday at $17.5 million, according to a source familiar with the…

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 profit.  The Newport Beach-based investor and his firm, JKV Capital, were seeking $10 million, with minimum…

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 Zillow, citing MLS information. A second home within the community is currently in escrow, with an asking…

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 Building to build apartments at 2700 North Main Street, according to the city of Santa Ana…

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 Shutters on the Beach and the 129-room Casa del Mar Hotel by the Sea, plus a $120…