Month: September 2024

Developer Phillip Braunstein and Bond Street Partners’ David Parnes walked through the recently completed property at 1104 Tigertail Road last week. It took a little over five years to get to that point. The home, which lists Monday for $25.9 million, covers more than 14,400 square feet. The two-story home was built above grade, meaning…

Worthe Real Estate Group has hired a chief investment officer to run its first real estate fund. The Santa Monica-based developer has named Chris Graham to run the firm’s inaugural fund, dubbed Worthe Fund 1, which will buy, reposition or redevelop commercial properties along the West Coast, the Commercial Observer reported. The intended size of…

Gov. Gavin Newsom has signed a stack of housing bills aimed at boosting housing production and lowering homelessness across California.  The governor put his Hancock on seven of 32 bills intended to increase housing affordability, including streamlining approvals for certain projects and requiring cities to create plans to house their most vulnerable residents, the Los…

A sale of Washington Prime Group’s struggling Westminster Mall is expected to move forward. The deal could close in the next 45 to 60 days, according to an update from Morningstar Credit Analytics. That’s after an $85 million loan on the 1.4 million-square-foot Orange County mall headed to special servicing in February, with Columbus, Ohio-based…

Shopoff Realty Investments got the nod to build 250 homes and a 215-room boutique hotel atop a former oil tank farm in Huntington Beach. The Irvine-based developer led by Bill Shopoff was approved by the City Council to construct the 29-acre project on the former Magnolia Tank Farm west of Magnolia Street and north of…

The former campus of the Trinity Broadcasting Network may not achieve everlasting life. MLC Holdings, a unit of Scottsdale-based Meritage Homes, has filed plans to replace the former Christian television facility with 126 townhomes and 20 single-family homes at 3150 Bear Street in Costa Mesa, the Orange County Business Journal reported. The developer has signed…

If anyone would know a good deal, it’s Los Angeles power agent Kurt Rappaport. The home broker — who has worked with the likes of Tom Brady, Brad Pitt and Ellen DeGeneres among other high-profile clients — just expanded his personal Los Angeles portfolio with the purchase of a Malibu home. He negotiated a nice…

Los Angeles County officials are said to have scheduled an auction for a 27-acre site atop the Calabasas hills. However, the owner of the site is refusing to budge, occupying the property in protest while accusing local officials of trespassing.   The property, at 27250 Agoura Road, was previously on the market for $29 million. When…

Los Angeles Clipper Terance Mann has just placed his modern farmhouse-style home in Tarzana on the market. The Clippers guard is asking $5.6 million for the six-bedroom, seven-bath home at 5124 Calvin Avenue. Mann wasn’t at the property for long. He bought the San Fernando Valley property in June 2023 for $4.8 million, with Distinct…

Fewer than one in five California households have paid off their homes, the lowest of any state in the U.S. But their numbers are rising. Some 18 percent of the state’s 13.7 million households live in a house they own without a mortgage, the Orange County Register reported, citing 2023 U.S. Census Bureau figures.  Across…