Month: September 2025

A Beverly Hills estate once owned by Los Angeles developer and former mayoral candidate Rick Caruso was the most-expensive home sale in the country last month.  Caruso’s former home, at 912 Benedict Canyon Drive, sold for $47.5 million, Westside Today reported. It was the only California property among the 10 priciest homes last month, which…

A planned office and retail development next to the Los Angeles Chargers’ new headquarters is instead going to become a wet and wild hotspot for surfers.  An affiliate of billionaire Vinny Smith’s Toba Capital spent $54 million for a 9-acre portion of the former Raytheon Technologies Campus at 100 North Nash Street in El Segundo,…

Hines is adding to its collection in Los Angeles’ Westside.  Hines Global Income Trust bought the Runway mixed-use property in Playa Vista for $428 million, L.A. Business First reported. The seller was Invesco Real Estate, which last bought the development in 2016 for $475 million.  The retail, residential and medical property at 12775 Millennium Drive…

The owner of a trendy hotel-meets-hostel downtown defaulted on its debt to the tune of $71 million and faces foreclosure.  The borrower, a company connected to Generator Hostels, failed to make payments to lender Trimont on a loan tied to Freehand Los Angeles Hotel at 416 West 8th Street, according to a notice of default…

A Mulholland Estates home asking nearly $22 million was last week’s top home to go into contract as Los Angeles County tightens its grip on deal flow. That’s the word from Douglas Elliman’s Eklund Gomes team’s Eklund Weekly Luxury Report Los Angeles. The Beverly Hills Post Office home within the upscale gated community is located…

Some of the biggest mansions in and around Los Angeles haven’t been fetching anywhere near their original listing prices, despite former ownership by some big-name celebrities.  This month alone, homes once owned by Milwaukee Brewers minority owner Robert Beyer, singer Ricky Martin, and previously married Jennifer Lopez and Ben Affleck have sold or are asking…

A lender aims to foreclose on Grant King’s Dream Hollywood hotel. A UCC foreclosure auction is scheduled for mid-October, according to a notice reviewed by The Real Deal. The LCP Group is seeking to foreclose on the equity interests in the 178-key hotel, which the lender alleges has over $30 million in unpaid debt.  The…

The job market for real estate and construction-related fields is contracting in Southern California.  Employers across real estate services, lending, construction, building supplies and building services tracked 714,900 workers in Los Angeles, Orange, Riverside and San Bernardino Counties last month, according to the Orange County Register’s analysis of California Employment Development Department data. That’s 24,100…

The Los Angeles Sparks are moving to El Segundo.  The three-time WNBA champions plan to build a 55,000-square-foot practice facility and headquarters at Continental Development’s Continental Park complex in the seaside city, Commercial Observer reported. The Gensler-designed development will cost $150 million to build and will be the first facility solely dedicated to the Sparks. …

Beverly Hills’ top single-family sale last quarter was 1028 Ridgedale Drive, which Australian billionaire James Packer sold for $59.6 million in April, according to Los Angeles County tax assessor records. This is the latest installment in a feature providing a weekly update on quarterly top sales by market segment, based on TRDData.  Packer’s transaction was…