Month: June 2026

Kingsbarn Realty Capital & Development and the Kelemen Company are poised to bulldoze seven vacant office buildings in Laguna Hills to build nearly 500 homes. The respective Las Vegas- and Irvine-based developers announced approvals early this year to construct 480 townhomes and apartments on 18.5 acres at two adjacent office complexes between 23282 and 23422…

A home in Corona del Mar with views of Newport Harbor that was listed two years ago for $32.9 million has traded for just over half that price at $17.8 million. After months of negotiations, the nearly 6,800-square-foot house was sold at 1409 Dolphin Terrace, in the Irvine Terrace neighborhood, the Orange County Business Journal…

An Italian Renaissance villa in Rancho Palos Verdes’ Trump-branded community crowned the list of luxury residential contracts signed in Los Angeles County last week. The 10,987-square-foot manse at 32040 Cape Point Drive in The Estates at Trump National is under contract after asking nearly $18.9 million, based on a report compiled by Marcy Roth of…

Coworking offices are booming across Los Angeles. The Los Angeles region added 1.4 million square feet of coworking offices last year, 16 percent more than in 2024, L.A. Business First reported, citing a study by WeWork. The jump in shared, flexible offices marked the nation’s third-largest gain, behind New York and Dallas-Fort Worth. The WeWork…

Metlife wants Rockpoint to cede control of a Miracle Mile office tower. In a complaint dated early June, the lender claims the owner is in default on a roughly $164 million loan.  Metlife alleges Rockpoint, a Boston-based private equity outfit, failed to pay back an about $2 million protective advance, money a lender gives a…

Netflix is set to drop nearly $400 million on a century-old Los Angeles movie studio that was seized by banks in a foreclosure. The Studio City lot last traded five years ago for $1.85 billion. The Los Gatos-based media and streaming company is under contract for the Radford Studio Center at 4024 Radford Avenue, Bloomberg…

There was celebrity buzz this week in Southern California residential real estate.  A home in Montecito — which Meg Ryan flipped — reentered the market asking just shy of $20 million. The “When Harry Met Sally…” star purchased the property in 2021 for $9.5 million and completed a large-scale renovation which included expanding the home’s…

Is Michael Hackman a phoenix who will rise from the ashes? He seems to think so.  “We have a couple deals that we just made mistakes on, and we’re going to lose a lot of money on those properties, but that happens. We’ve accepted it, and now we’re moving on,” the world’s largest owner and…

Pulte Homes is moving forward with more housing in Fremont.  The PulteGroup home building subsidiary is planning to build 140 condominiums, including 21 affordable units, on a former industrial and storage site at 45846 Warm Springs Road in Fremont’s Warm Springs district, the Silicon Valley Business Journal reported.  The development would consist of 14 townhome-style…

An abandoned gas station in downtown Long Beach is poised to give way to multifamily housing.  New Century Development filed an application with the City of Long Beach to demolish the vacant service station at 402 Atlantic Avenue and erect a seven-story building with 82 units, Urbanize Los Angeles reported. A portion of the residences…