Month: February 2025

University of Southern California has bought a Hebrew Union College – Jewish Institute of Religion building next to its Exposition Park campus for $34.6 million in a buy-leaseback deal that requires the school to downsize and foot the bill for renovations. USC purchased the college’s 50,000-square-foot Jack H. Skirball Campus at 3077 University Avenue, north…

Seminole Real Estate Fund, an investment firm with links to the Seminole Tribe of Florida, has acquired the Vinz on Fairfax for $68.4 million, a 144-unit apartment complex in the Miracle Mile, The Real Deal has learned.  The property, located at 950 South Fairfax Avenue, sold for $475,000 per unit, according to data from PropertyShark.…

The Los Angeles County wildfires that torched more than 16,000 homes, businesses and other buildings last month could burn a $9 billion hole in the region’s economy, according to a study. The Los Angeles County Economic Development Corporation predicted the county could lose $4.6 billion to $8.9 billion in economic output from the Palisades and…

A new record will be set in Encino with the planned listing next week of a nearly $40 million estate as some agents see more interest in the San Fernando Valley neighborhood from Westside residents. No other Encino listing on the market has an asking price that comes close to the nearly 20,000-square-foot compound at 16187 Royal Oak Road, based on…

Ohr Haemet plans to build a 150-unit affordable apartment complex in Mid-City. The Pico-Robertson-based nonprofit developer led by Rabbi David Akhamzadeh, filed plans to build the six-story building at 2600 South Robertson Boulevard, Urbanize Los Angeles reported. It would replace three commercial buildings. Plans for the third-of-an-acre site call for 150 studio and one-bedroom apartments…

Ashford Hospitality Trust has snagged a $580 million loan to refinance 16 hotels in Florida and California, including one in Beverly Hills. The Dallas-based real estate investment trust secured the loan backed by the hotels, including the 12-story, 260-room Beverly Hills Marriott at 1150 South Beverly Drive, Commercial Observer reported. Together the hotels have an…

Beverly Hills-based Bolour Associates traded a 1-acre beachfront retail and short-term rental portfolio where it had been planning to develop a three-story hotel along The Strand in Hermosa Beach for $33.5 million, the company announced. Hermosa Pier and Strand, a limited liability company tied to food manufacturer Harold Rothman, bought the parcels at the corner…

Carolwood Estates agent Nichole Shanfeld’s sister lost her homes in the Pacific Palisades and Malibu during January’s fires. Insurance will come up short for the property in Malibu — which saw about one-third of the city destroyed from the flames — when it comes to rebuilding the 100-year-old beach shack she once had. Shanfeld estimates…

State Farm General faces $612 million in losses from the wildfires that burned through thousands of homes in Los Angeles County last month. The state’s largest insurer, a unit of Illinois-based State Farm Mutual Automobile Insurance, estimated it will cost $7.6 billion to settle its wildfire claims, the Los Angeles Times reported. But reinsurance will…

Hudson Pacific Properties is selling four office buildings for up to $150 million as it struggles with hundreds of millions in financial losses from low-performing office and studio properties. The Brentwood-based investor is shedding real estate properties as it comes to terms with declining office and Hollywood studio occupancy, Bisnow reported, citing an earnings call.…