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Month: August 2024

“Nothing for us to defend”: LA brokers eye NAR deadline

A couple posted on Reddit with a question from their search for a Pasadena-area home. They “love” their broker, they wrote. Still, they hope to negotiate her commission under the new NAR rules, and asked fellow Redditors if it was true ...

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  • 16 Aug
  • The Real Deal
  • Uncategorized
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What OC city is the hottest residential market in the US?

Irvine, an Orange County city miles from the beach, has become the hottest residential market in the nation. Over the past year, the price of a median priced home in the central OC city jumped 20.8 percent to $1.56 million, the highest ...

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  • 16 Aug
  • The Real Deal
  • Uncategorized
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Malibu estate with surfboard shack, beach path trades for $32M

A Los Angeles litigation attorney found a buyer for his Malibu estate, trading it for $31.7 million. The 7,269-square-foot Point Dume home at 28823 Cliffside Drive is yet another ultra-luxury deal for Malibu in what is shaping up as a ...

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  • 16 Aug
  • The Real Deal
  • Uncategorized
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Madison Realty unveils look of apartment highrise in Santa Monica

Madison Realty Capital has unveiled the look of a proposed 18-story apartment building in Santa Monica on an approved site once filed as a builder’s remedy project. The New York-based private equity firm plans to build the 172-unit ...

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  • 16 Aug
  • The Real Deal
  • Uncategorized
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New Starbucks CEO to count coffee beans from home in Newport Beach

Brian Niccol, the incoming CEO at Starbucks, may require employees to report to their offices and cafes — while he works from his home in tony Newport Beach. The head of the Seattle-based coffee chain, hired this week from the helm of ...

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  • 16 Aug
  • The Real Deal
  • Uncategorized
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Hackman, Affinius score $75M refi on Amazon-leased Culver Steps 

Lease a property to one of the biggest companies in the world — and L.A.’s hottest chains — and the financing will follow. Hackman Capital Partners and Affinius Capital have scored a $75 million loan to refinance Culver Steps, a ...

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  • 15 Aug
  • The Real Deal
  • Uncategorized
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Costa Mesa sets affordable requirement for new apartments

Costa Mesa has set its first bar for affordable housing requirements on larger apartment projects. The City Council voted to require developers of complexes of 50 apartments or more to set aside between 4 percent and 10 percent for ...

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  • 15 Aug
  • The Real Deal
  • Uncategorized
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Development firm aims to turn offices into Long Beach State student housing

UPDATED AUG. 15 at 2:30 p.m.: Burnham Development plans to turn a seven-story office building into housing for nearly 600 students at nearby Long Beach State University. The local development firm has filed plans to convert the ...

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  • 15 Aug
  • The Real Deal
  • Uncategorized
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MetLife, Loews put Hollywood hotel up for sale — at big discount

MetLife Investment Management and Loews Hotels & Resorts have put their Hollywood hotel up for sale — with a steeply discounted price tag. The firms have listed the Loews Hollywood Hotel with a guiding price of $125 million ...

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  • 15 Aug
  • The Real Deal
  • Uncategorized
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Coldwell Banker Realty’s Kamini Lane prepares for post-NAR brokering

Kamini Lane stepped into the top spot at Coldwell Banker Realty last year. The president and CEO had her work cut out for her from the start. Lane joined the brokerage as the Sitzer-Burnett class action lawsuit continued to wind its ...

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  • 15 Aug
  • The Real Deal
  • Uncategorized
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