Month: October 2025

Mayor Karen Bass is using her power to foster faster rebuilding of Pacific Palisades businesses lost in the Palisades fire.  The mayor has issued Emergency Executive Order 10, which introduces measures intended to streamline the rebuilding process for commercial properties within the city’s designated Palisades Commercial Village and Neighborhoods Specific Plan area, L.A. Business First…

Developer Izek Shomof purchased a Long Beach office tower for $50 million, The Real Deal has learned.  The 24-story, 460,000 square foot property at 111 W. Ocean Boulevard, called Landmark Square is one of the newer and taller offices in the seaside downtown, located at the key intersection of Pine Avenue.  The seller, a Manulife…

The Pacific Companies is plotting an affordable housing project in Reseda.  The Idaho-based developer closed on a ground lease with New York-based Safehold for the proposed Twin Park Landing project at 6670 Reseda Boulevard, Multi-Housing News reported. Development costs for the 275-unit project are believed to be more than $127 million.  The Pacific Companies is…

 Nuveen has offloaded another property in the Los Angeles area.  Carmel Partners bought Stella, a 244-unit apartment building at 13488 Maxella Avenue in Marina del Rey, from Nuveen for $141 million, Commercial Observer reported. The sale to the San Francisco-based investments and development firm marks the priciest multifamily trade in Marina del Rey in more…

A condo unit at the Maybourne Beverly Hills sold to the titan of a family-owned food maker and distributor in one of the priciest deals at the ultra-luxe property. The Real Deal previously reported unit 8E at 225 North Canon Drive went into contract last month, but the buyer and sale price were not known…

A home known as the Malibu Dream Resort is on the market and ready to dance the night away.  The 31-acre vacation home and event venue at 12680 Yellow Hill Road is asking $52 million, Mansion Global reported. The price amounts to $5,778 per square foot and nearly $1.7 million per acre. The owner wasn’t…

Concord Capital Partners added another Koreatown apartment building to its growing collection.  The Beverly Hills-based investment firm bought The View, a 13-story, 168-unit building at 3460 West Seventh Street for $52 million, or $310,000 per unit, L.A. Business First reported.  The seller, an affiliate of MWest Holdings, bought the property in late 2018 for $73.3…

Los Angeles’ multifamily market lost a bit of steam in the third quarter, but a bounceback might not be far off.  Occupancy dipped 40 basis points year-over-year, while rents fell 0.2 percent from the previous quarter, the L.A. Business Journal reported, citing Colliers.  Still, L.A. is a bright spot, outperforming nationwide trends. The city boasts…

Santa Monica Clock Tower is in the hands of a receiver over a $25 million loan balance, according to an October court order.  Special servicer Rialto Capital recently sued a company connected to Rockwood Capital, the Santa Monica Clock Tower owner, after the landlord defaulted on a loan secured by the property.  Rialto requested a…

BlackRock added another multifamily property to its holdings, this time in Ventura County.  The Latigo Group sold the Santal Thousand Oaks apartments in Thousand Oaks to an account managed by New York-based BlackRock, L.A. Business First reported.  The 142-unit mid-rise property at 299 Thousand Oaks Boulevard went for $83 million, or $584,500 per unit, per…