Month: June 2026

Transit-oriented development in major cities across the Golden State is poised to take a much firmer shape with a piece of legislation that could help municipalities close the gap between housing demand and state-mandated planning goals. Assembly Bill 2074, dubbed the Downtown Revitalization Act, is quickly working its way through the state legislature. The California…

Redcar is in trouble in Chinatown. Distressed debt player Rialto Capital accused the Jim Jacobsen-led development firm Redcar Properties of defaulting on a loan for creative offices in Chinatown. Now, Rialto wants to foreclose and a receiver to take over. Miami-based Rialto made the allegation in its capacity as the loan’s special servicer, which acts…

Linc Housing wants to tear down its Long Beach headquarters to build more than 100 affordable apartments. The nonprofit affordable housing developer filed plans to raze its office hub and replace it with an apartment building at 3590 Elm Avenue, Urbanize Los Angeles reported. The 13,100-square-foot, single-story offices built in 1961 would be demolished. Plans…

A proposed state ballot measure for an $11.5 billion bond to pay for affordable housing now has a key backer: Gov. Gavin Newsom. The governor and state lawmakers have cut a deal to place the Veterans and Affordable Housing Bond Act of 2026 on the ballot in November, Realtor.com reported. Newsom is urging voters to…

BKM Capital Partners added another deal to its trail of recent industrial acquisitions, dropping $95 million on an 11-building campus.  The Newport Beach-based investor purchased the Carson Industrial Center at 1000-1124 East Del Amo Boulevard, LA Business First reported. The seller was German asset manager DWS Group.  The deal for the 429,000-square-foot campus works out…

Los Angeles housing officials debunked claims by outgoing City Attorney Hydee Feldstein Soto that a nonprofit legal aid provider fell short of reporting requirements under a taxpayer-funded contract aimed at preventing evictions. The conflict centers on $177 million in city-approved funding that hasn’t been finalized because Feldstein Soto declined to sign off on a long-term…

The year’s priciest office sale in all of Los Angeles happened downtown, and still, it only came out to about $150 per square foot. Considering the pre-pandemic normal was about $450, there’s little room to doubt the market is suffering. But there is still a pulse. The deal was for Bank of America Plaza, an…

Los Angeles’ polarizing Measure ULA transfer tax could see a reduction by nearly 75 percent if a new state bill gets approval from both chambers and the governor’s signature.  On Monday, the California State Senate shared its version of Assembly Bill 736, a new piece of legislation that would impose a 1.5 percent transfer tax…

Oakley founder James Jannard has traded his Trousdale Estates home. The property at 410 Trousdale Place sold for $46.95 million in a deal closed Thursday, The Real Deal has learned. The home, which features a contemporary brutalist facade in grey concrete, was last asking $59.5 million, according to an online listing.  The billionaire scion behind…

A local developer wants to squeeze 20 homes and granny flats into a vacant lot in Reseda. Leo Polosadjian filed plans to subdivide the two-thirds-acre rectangular property into five lots to build the homes at 19448 Saticoy Street, Urbanize Los Angeles reported, citing city planning records. Plans call for each lot to contain a single-family…