Category: Uncategorized

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…

A billionaire beverage mogul is slimming down his real estate holdings in Los Angeles and across the Western United States in a nine-figure bet on the next wave of tech wealth.  Russ Savage, founder of Rockstar Energy and longtime luxury home investor, is listing five properties across Los Angeles, Aspen and Park City for a…

Angeleno Investments is pursuing more affordable housing in the San Fernando Valley.  An Angeleno affiliate filed an application with the Los Angeles Department of City Planning to construct a six-story building with nearly 100 units at 5139 North Colfax Avenue in Valley Village, Urbanize Los Angeles reported. Nearly a decade ago, the parcel was slated…

Developers secure the go-ahead from the Los Angeles City Planning Commission for an apartment complex in Silver Lake despite local pushback.  The commission gave the green light to a proposal from co-applicants Fang Qian Morgan and Seth James Morgan to redevelop parts of the property at 2413 North Silver Lake Boulevard with 76 one-bedroom apartments,…

The first wave of TDR Development’s new collection of mansions have hit the market in one of Los Angeles’ most exclusive, A-list neighborhoods: Hidden Hills. Tucked in west San Fernando Valley, Hidden Hills is a gated 2-square-mile city where the ultra wealthy flock for privacy, including Kim and Khloe Kardashian, Tristan Thompson, Dwayne Michael Carter…