Month: August 2025

No one likes a micromanager–and some cities might say Sacramento is the most annoying taskmaster of them all, particularly as it relates to housing. Last week ended with a committee hearing on Senate Bill 79, a contentious piece of legislation that would allow housing projects as high as 75 feet within a quarter of a…

Chris Rising and his Rising Realty Partners belong in the same sentence as Brookfield when it comes to Downtown Los Angeles these days — but not in a colossus-astride-the-commercial property market sort of way. Rising and partner DigitalBridge joined Brookfield on the list of landlords with properties in receivership last week, when a judge made…

The Santa Monica City Council has made way for a new approach to affordable housing construction in the seaside enclave.  Officials voted 6-1 in the council’s most recent meeting to approve a pilot program allowing developers to build affordable housing off-site instead of requiring it as part of a development, the Santa Monica Daily Press…

The home where Marilyn Monroe lived her final days could soon become a pile of rubble.  Brinah Milstein, daughter of Cleveland developer Michael Milstein, and her husband, reality TV producer Roy Bank, are looking to tear down the Brentwood home that Monroe bought six months before her death in 1962, but they are facing some…

Raintree Partners has picked up an apartment complex in Ventura County for $100 million.  The Dana Point-based real estate investment company bought Cypress Point, a 268-unit multifamily property in Ventura, from County Center in a deal that works out to about $373,130 per unit, L.A. Business First reported. County Center developed the property in 1990…

Westwood Financial has named a new chief executive: KC Fields. He is replacing Mark Bratt, who stepped down in December after six years at the helm. The Los Angeles-based retail real estate investment company was founded in 1970 by Howard Banchik and Steve Fogel, current co-chairmen.  Prior to Westwood Financial, Fields was a senior vice…

A vintage Pacific Palisades property set this year’s price record for the Los Angeles neighborhood, selling along with a nearby home for a combined $27 million. The Monterey Revival-style home at 14924 Camarosa Drive is the Palisades’ most expensive home this year, after closing for $22.1 million, or $2,635 per square foot. That bests the…

The Lighthouse Group bought its second Hollywood apartment complex this year.  The Pacific Palisades-based firm purchased the 218-unit property at 1714 North McCadden Place for $73.9 million, or $338,991 a unit, from an entity connected to New York Life Real Estate Investors, whose Erik Pentland signed the deed, property records show. The price is a…

KPMG is trading one downtown Los Angeles address for another, in one of the largest office leases of the year thus far.  The Netherlands-based accounting and professional services firm signed a lease for nearly 70,000 square feet across three floors at the U.S. Bank Tower in downtown L.A., CoStar reported. In addition to its new…

The buyer pool of burned lots in Southern California’s rebuild is rapidly growing. Last week saw a diverse group of investors, including traditional developers, toymakers and even a California Lottery winner. What’s at stake is laying claim to part of a historic, multi-community rebuild. So far, over $84 million has been pumped into Altadena, Malibu…