Author: The Real Deal

CIM Group is growing its holdings in West Hollywood while dealing with distress in the Bay Area.  The Los Angeles-based firm just purchased the Domain WeHo apartment community at 7141 Santa Monica Boulevard for an undisclosed price, L.A. Business First reported. CIM acquired the multifamily property in partnership with Hulic Company.  RREEF Property Trust, the…

Rexford Industrial, months into its Laura Clark-era, posts a $507 million loss — mostly due to write-downs — for the second quarter, compared to a $113 million profit for the same period last year.  The net loss in the second quarter includes about $625 million of impairments, which “primarily reflect certain assets designated for disposition…

Kennedy Wilson is looking to add much-needed housing to Santa Monica’s multifamily inventory.  The Beverly Hills-based firm filed an application with the City of Santa Monica’s Community Development Department to build an eight-story apartment building with 133 units and 137 parking spaces at 700 Colorado Avenue, Urbanize Los Angeles reported. The project would replace a…

One of Hollywood’s most iconic movie theaters is getting a second act.  Sony Pictures Entertainment is taking over the restoration and reopening of the Cinerama Dome at 6360 Sunset Boulevard after a six-year closure, the Los Angeles Times reported.  Sony plans to begin renovations next month and reopen the 1963 landmark and the adjacent 14-screen…

Century Housing and Charles R. Drew University of Medicine & Science have gotten the go-ahead from county officials for a large mixed-use development in Willowbrook.  The Los Angeles County Board of Supervisors gave final approval to the CDU Wellness & Education Campus, Urbanize Los Angeles reported. The Board of Supervisors also certified the project’s environmental…

Affordable housing developer Logos Faith Development is accelerating its growth with plans to break ground on 15 projects over the next three years, a pace that would put the faith-based development specialist in the same conversation as some of the region’s biggest affordable housing players. The Los Angeles-based firm is planning five groundbreakings each year…

Famed retail impresario Freg Segal’s daughter offloaded her 5,000-square-foot Toluca Lake home for $8.3 million in a deal that closed Wednesday morning.  Annie Segal first listed the property in March asking just shy of $10 million. In June, she shaved $1 million off the price tag, finding a buyer for the home located at 4343…

SoLa Impact just landed upwards of $100 million in financing backed by more than a dozen affordable apartment buildings across Los Angeles County.  The private equity-backed development firm closed a $105 million financing package tied to 14 properties in the county, the Los Angeles Business Journal reported.  SoLa Impact plans to use the funds to…

A day after a bankruptcy court appeared poised to clear the sale of the graffiti-covered towers in the heart of downtown, another offer surfaced — along with an apparent accusation that it’s being summarily dismissed even with the bling it brings to the case. The bling comes courtesy of A.C. Green, a member of the…

The artificial intelligence boom is turning water-starved desert land into a goldmine for data center projects — though one developer looking to build near the U.S.-Mexico border is facing pushback from both residents and officials. Sebastian Rucci, a 65-year-old land-use lawyer and developer with a history that includes a former Ohio strip club and a…