Month: May 2025

Kilroy Realty’s earnings last quarter were fair to middling as office and life sciences occupancy slackened further across its 17.1-million-square-foot portfolio in San Francisco, Los Angeles, Seattle and San Diego, the company reported Tuesday. Kilroy’s funds from operations were $122.3 million, or $1.02 per diluted share in the first quarter, down 8.5 percent from $133.7…

Los Angeles has killed a plan by Redcar Properties to build a 26-story apartment and hotel tower in Chinatown. The city Planning Department issued a termination letter to the Santa Monica-based developer for its proposed 282-foot building at 643 North Spring Street, Urbanize Los Angeles reported. Plans by Redcar called for a 26-story tower with…

Mayor Karen Bass foisted blame for the city’s mishandling of January’s deadly Los Angeles wildfires and their aftermath on everyone but herself. Bass called out the LA Department of Water and Power, the Los Angeles Fire Department and its chief, and the insurance industry while talking on a panel, “Rising Strong: Los Angeles’ Path to…

A Cape Cod-style home in Malibu Colony sold this month for $26.8 million, making it the priciest on-market residential deal so far this year in the ritzy coastal city. The six-bed, five-bath home at 23736 Malibu Colony Road hit the market in March last year for $38.5 million, according to listing sites. Its most recent…

California Resources Corporation wants to develop 92 acres of Huntington Beach’s pristine coast with an 800-unit hotel-retail village. The Long Beach-based energy company has filed plans to build the mixed-use development on industrial land between the northwest edge of downtown and the Bolsa Chica Ecological Reserve, near Bolsa Chica State Beach, the Orange County Business…

After filing for its second Chapter 11 bankruptcy in two years, Rite Aid shoved 1,245 drug stores into the market, including 59 in Los Angeles County. The Philadelphia-based pharmacy chain is marketing its leased and owned stores after the firm  announced it is “pursuing a strategic and value-maximizing sale process for substantially all of its…

Nick Segal’s sitting in the conference room of Carolwood Estates’ Beverly Hills headquarters, moving from his laptop screen to cell phone. He’s showing off the Carolwood Private Portal, which its agents have been quietly using for a little over a month.  The private platform has nearly 90 listings totaling over $1.3 billion worth of signed…

A Brentwood home doubling as a wellness retreat from seller and celebrity trainer Tracy Anderson is among last week’s top homes that went into contract. The Brentwood contemporary at 13162 Boca De Canon was last week’s second-biggest home that went into contract by listing price, according to a report from the Eklund Gomes team at…

An Irish hotel investor has accused members of the royal family in Qatar of failing to pay him for work done for the The Maybourne Beverly Hills hotel. Businessman Patrick McKillen filed a federal lawsuit against the Qatari royals and associates accusing them of racketeering and failing to provide compensation for work for the 205-room…

A decision by Washington Prime Group to sell its stake in the Westminster Mall in Orange County could put the kibosh on its immediate redevelopment. The Ohio-based investor has listed its share of the 1.2-million-square-foot indoor mall at 1025 Westminster Mall, which could also impact plans by Irvine-based Shopoff Realty Investments to revamp its portion,…