Month: August 2024

Ellen DeGeneres and Portia de Rossi have traded mansions with billionaire mining magnate Robert Friedland in a deal approaching $130 million. An entity tied to the founder of Vancouver-based Ivanhoe Mines paid the TV personality and her wife $96 million for a blufftop estate at 2781 Padaro Lane in Carpinteria, which they bought less than…

Discount retailer Big Lots will close 75 stores across the state, with 40 percent of them in Southern California. The Ohio-based firm will close 315 stores across the U.S., but the Golden State is taking the biggest hit, the Orange County Register reported, citing a regulatory filing detailing new loan terms to its creditors. Two…

Developer Leo Pustilnikov, a pioneer of a legal loophole to approve homes in tony Beverly Hills, may now be the largest owner of homeless housing in Los Angeles. A judge has approved his purchase of a portfolio of 17 Skid Row buildings for formerly homeless residents in Los Angeles’ Skid Row for $10 million, the…

For Lincoln Property Company, it’s out with an old building and in with a new for the elderly.  The development firm has teamed up with Sunrise Senior Living to replace a 1950s apartment complex in Westwood with a new high-rise senior housing complex, according to plans filed with the City of Los Angeles. The firms…

Call it a publicity stunt to draw attention to a pending mansion listing. Or a sincere marketing effort to add nearly $100 million to the statewide record price for a house. Whatever the case, luxury real estate broker Kurt Rappaport says he’s preparing to market a Malibu property for $300 million as a private listing,…

Compass agent John Hathorn has an eye on Santa Monica’s past and present. His office sits on trendy Montana Avenue, across from the Aero Theatre that originally opened for aircraft workers in 1940. Today, the street is home to trendy cafés, booked out restaurants and boutiques.  “It has come a long way, but I think…

Orange County has entered the trillion-dollar housing pantheon. The OC’s collective home value jumped by $121 billion in a year to $1.11 trillion as of June 30, surpassing the trillion mark, the Orange County Register reported, citing figures from Redfin. It’s  now the fifth-most valuable market in the nation. Boosted by skyrocketing home prices in…

Aaron Kirman’s brokerage has ballooned in short order. Having his name on the door seemed a bit small-time, so he’s removing his personal brand from the brokerage to have Christie’s International Real Estate take the spotlight. Los Angeles’ top-ranking agent confirmed to The Real Deal the rebrand of his brokerage to Christie’s International Real Estate…

Liv Lux Properties plans to demolish two single-family homes in L.A.’s Mid-City to build a 40-unit apartment complex. The Encino-based developer led by Efraim Barazani has filed plans to build the six-story building at 1551-1557 South Hi Point Street, Urbanize Los Angeles reported. The developer had earlier filed plans for 38 units, to be reviewed…

Despite rising vacancy in industrial buildings across Southern California, Staley Point Capital and Bain Capital Real Estate have placed a $42.6 million bet on two warehouses. The Sawtelle- and Boston-based investors bought a 70,000-square foot warehouse at 21339 Nordhoff Street, in Chatsworth, the Commercial Observer reported. The joint venture also picked up a 162,000-square-foot warehouse…