Month: May 2025

The California Department of Insurance has accused an Encino-based insurance adjuster of stealing insurance funds from Eaton fire victims and other residents looking to repair their homes.  The department has filed a lawsuit against Aleksandr Guldshtadt and his wife, Evghenia Gaiju, for allegedly submitting false insurance claims, pocketing funds meant for clients and not completing…

Homeowners will bear the brunt of responsibility in shoring up the financial gaps for State Farm General after the California insurance commissioner sided with an administrative law judge ruling to allow an emergency 17 percent rate increase. That’s off from the  original request by California’s largest insurer to hike homeowner rates by 21.8 percent following…

Optimus Properties has landed a $21.5 million loan to refinance a 77,100-square-foot shopping center in South Los Angeles for $292 per square foot — double what some Class A offices fetch in Downtown L.A. The Century City-based secured the loan tied to the Juanita Tate Marketplace at 1040 Slauson Avenue, in Florence, the Los Angeles…

Landmark Properties and Stockbridge Capital Group have joined forces on a $100 million deal to buy two student apartment complexes in University Park, near University of Southern California.  Georgia-based Landmark and San Francisco-based Stockbridge purchased the 57-unit Icon Plaza at 3584 South Figueroa Street and the 161-unit West 27th Place at 530 West 27th Street,…

A Bel-Air estate owned by a trust tied to local philanthropists served as last week’s top home that went into contract, with a $34.8 million asking price.  That’s according to a report from Douglas Elliman’s Eklund Gomes team, which compiles a roundup of Los Angeles County signed contracts based on the listing price. The Eklund…

A Dallas-based homebuilder with a growing Texas presence will be acquired by the New Home Company in a $1.2 billion all-cash transaction. Irvine, California–based New Home is acquiring Landsea Homes at $11.30 per share, the Orange County Business Journal reported. New Home’s majority shareholder is Apollo Global Management, which also bought the publicly traded real…

Corona del Mar’s luxury residential market is on a tear. A home once owned by Roth Capital Partners executive chair Byron Roth traded for $24.5 million in the off market to claim a new record for the Newport Beach neighborhood’s Cameo Highlands community. The mansion at 4700 Surrey Drive is also one of the priciest…

As the federal government helps Altadena residents clear away their burned out homes after the Eaton Fire, local business owners have been left holding the ashes.  While the Federal Emergency Management Agency has authorized the U.S. Army Corps of Engineers to remove debris from homes, public buildings and places of worship, commercial properties are excluded…

A 25,000-square-foot mansion in Bel-Air owned by the late Quincy Jones has hit the market for nearly $60 million. The longtime estate of the Grammy-winning record producer and composer behind Michael Jackson’s “Thriller” is up for sale at 1101 Bel Air Place, in Lower Bel-Air, according to The Wall Street Journal and Robb Report. Jones,…

The mystery buyer that paid $50.9 million for a 102,300-square-foot distribution warehouse in Lake Forest last month has been identified as a unit of France-based Engie. An affiliate tied to Engie Resources engine supplier bought the two-story industrial building at 20 Icon, in Foothill Ranch, the Orange County Business Journal reported, citing CoStar. The seller…