Month: August 2024

Stockdale Capital Partners will soon begin grading for a 12-story, Flatiron-style medical office and life sciences building in Beverly Grove. The Brentwood-based developer led by Steven and Shawn Yari plans to start preliminary construction in December for the 145,000-square-foot building at 656 South San Vicente Boulevard, the Beverly Press and Urbanize Los Angeles reported. A…

John Kralik, a real estate investor that the Securities and Exchange Commission alleged misused funds designated for fix-and-flip deals, is now at the center of a federal criminal probe.  The U.S. Attorney’s Office is conducting a federal criminal investigation “related to the same conduct” as the SEC’s allegations, according to court records.  “Mr. Kralik now…

An unidentified Chinese investor has picked up a 25-story office building in Downtown Los Angeles for $60 million — more than $118 million less than its last traded price. The mystery buyer bought 801 Tower, a 465,200-square-foot building at 801 South Figueroa Street, in South Park, the Commercial Observer reported, citing unidentified sources. The seller…

Inari Medical has leased a 27,000-square-foot office space near its Irvine headquarters. The medical device maker inked a sublease deal at the three-story office building owned by the Irvine Company at 510 Technology Drive in Irvine’s Discovery Park, the Orange County Business Journal reported. Terms of the sublease from device maker Vyaire Medical were not…

Bridge Industrial has scored $430 million in loans to refinance its sprawling industrial complex in Rancho Cucamonga.  The Chicago-based firm secured $268 million in senior loans plus $162 million in junior financing tied to Bridge Point Rancho Cucamonga, a 2.2 million-square-foot warehouse complex at 12415 Sixth Street, according to reports from credit agencies KBRA and…

Cain International and OKO Group want $5.25 billion in loans to complete their One Beverly Hills resort in time for the 2028 Olympics. The London-based and Miami-based developers seek the financing package to finish the luxury project at 9850, 9876, 9900 and 9988 Wilshire Boulevard, Bloomberg reported, citing unidentified sources. The debt would fund construction…

The fallout from Avenue 8 shuttering its brokerage operation this summer has created growth opportunities for others. Compass and Douglas Elliman are the most recent firms to report padding their local offices in Southern California with former Avenue 8 agents. The San Francisco-based company said in June it planned to close its brokerage business to…

Hoteliers Ed Scheetz and Ian Schrager have scored a $121 million construction loan to fund their redevelopment of the former Standard hotel in West Hollywood, The Real Deal has learned.  iBorrow provided the three-year loan on the hotel, located at 8300 Sunset Boulevard, according to property records filed with Los Angeles County.  Neither iBorrow nor…

Manhattan Beach’s residential market is standing tall even as the number of signed contracts for Los Angeles County shrinks.   The nine-bed, 11-bath home at 763 31st Street in Manhattan Beach was last week’s largest property under contract, with an asking price of $10.5 million, according to the Eklund Weekly Luxury Report L.A. The roundup counts…

The owner of a parking lot in Woodland Hills wants to replace it with a six-story apartment complex along the 101 Freeway. Dan Hosseini, whose limited liability company is based in Culver City, has filed plans to build the 54-unit complex at 19923 West Ventura Boulevard, Urbanize Los Angeles reported. The lot owned by 19923…