Month: May 2025

After natural disasters, the Federal Emergency Management Agency often leases apartment buildings for survivors — but not in Los Angeles County, where wildfires torched 13,000 homes. Federal and state disaster officials didn’t jumpstart the program after the January firestorm, saying the rental market had sufficient housing for those who lost their homes, the Los Angeles…

It’s a done deal. Former Crown Resorts chair James Packer’s $110 million purchase of a Bel-Air estate on Nimes Road has officially closed, The Real Deal has learned, making it Los Angeles County’s priciest deal so far this year by a big margin. The deal was official as of Tuesday afternoon, according to a document…

Developer Eli Sasson filed for Chapter 11 protections to avoid foreclosure on a Beverly Hills mansion he listed for $88 million three years ago. The octogenarian builder, known for his battle to redevelop the South Los Angeles site of the 1992 Rodney King riots, completed the meticulously designed eight-bedroom home at 620 Arkell Drive in…

Kanye West’s previous pad in Malibu made headlines again this past week when it appeared in the No. 1 spot among signed contracts in L.A. County, with a $39 million asking price. The weekly contracts list from Douglas Elliman’s Eklund Gomes team placed the beachfront property at 24844 Malibu Road at the top of its…

Burlington will cram coats and suits inside two closing Joann stores once stuffed with fabrics and arts-and-crafts supplies in Southern California. The New Jersey-based apparel retailer once known as Burlington Coat Factory has taken over the leases of former Joann stores at 26583 Carl Boyer Drive in Santa Clarita and at 5885 Lincoln Avenue in…

Louis Vuitton has unveiled the look of its proposed superstore in Beverly Hills: two windowless three-story buildings designed by Frank Gehry that resemble a white lotus flower. The Paris-based luxury retailer drew the curtain on plans to build the 45,000-square-foot flagship emporium on the site of the failed 109-room Cheval Blanc hotel project at 468…

Retail real estate investor Mushmel Properties paid $20.9 million for a Ralphs-anchored retail property in the South Park neighborhood of downtown Los Angeles. The family-owned investment firm is based in Sherman Oaks and will add the Ralphs property to its portfolio of Southern California neighborhood centers, strip malls and single-tenant parcels. The purchased property totals…

Adam Rubin and Andrew Shanfeld’s Carolwood is in escrow to buy the 41-story EY Plaza for $130 million, or about $141 per square foot, The Real Deal has learned. The 11-year-old firm, which invests in real estate, hot sauce and a YouTube influencer, is set to close with landlord Brookfield Properties’ lenders to purchase the…

Investors BKM Capital Partners and Kayne Anderson Real Estate have linked up with a plan to buy $1.5 billion in light industrial buildings across the U.S. The Newport Beach- and Florida-based investors formed a joint venture to commit the funds to acquire small- and mid-bay industrial properties, the Orange County Business Journal reported. “This joint…

The tariff turmoil has turned bonded warehouses into a hot ticket for a few Los Angeles landlords. Importers still receiving shipments from overseas are scrambling to rent space in the bonded buildings, where they can buy time for tariff tensions to wither, the Los Angeles Times reported. The rare buildings are suddenly in hot demand,…