Category: Uncategorized

Developers push infill housing projects in Pasadena which are moving forward following analysis by the Pasadena Design Commission.  On Tuesday, the commission reviewed calls for multifamily construction at 1034 Locust Street and 369 South Marengo Avenue, Urbanize Los Angeles reported. They’re the latest in a line of proposals aimed to add much-needed units to the…

The Fallas family’s Metropolitan building in Downtown Los Angeles’ Historic Core moved a step closer to receivership and foreclosure. A special servicer for the lender and commercial mortgage-backed securities holders requested a receiver this month, initiating a judicial foreclosure. Special servicer LNR alleges the borrower, the Fallas family, defaulted on their loan on the Beaux-Arts…

A property owner in Canoga Park is looking to nearly double the number of units proposed for a commercial development off Sherman Way.  Matt Towfighian of Warner Mega Properties submitted a revised application to the Los Angeles Department of City Planning that calls for a six-story building with 120 residences at 7220 North Owensmouth Avenue,…

Finishing first in the primary for state insurance commissioner, Jane Kim — who formerly sat on the San Francisco Board of Supervisors — is at the center of a race that typically flies under the radar, but carries implications for real estate developers and investors, along with homeowners. The Palisades and Eaton fires put a…

An Orange County financier has been arrested by federal agents on accusations of bank fraud tied to loans secured by real estate.  Mahender Makhijani was arrested on Wednesday at his mansion at 57 Montecito Drive in Newport Beach’s tony Corona del Mar neighborhood, the California Post reported. Authorities reportedly breached the property — which Redfin…

The Bay Club Company is growing its real estate holdings across California with its latest acquisition in the Los Angeles area.  The athletic club completed its purchase of a two-building campus at 2250 Park Place in El Segundo for $42 million, L.A. Business First reported. Continental Development Corporation acquired the 5.4-acre property in the 1960s…

The Los Angeles real estate industry’s top choice for California governor didn’t make it past election night — Matt Mahan conceded after earning just 4 percent of the vote — but another industry favorite made it to the November runoff: Steve Hilton. The ex-Fox News host, a Republican, will face former U.S. Health and Human…

The City of Los Angeles has acquired one of the first affordable housing projects completed under its Executive Directive 1.  The Housing Authority of the City of Los Angeles purchased Sands Off Sawtelle, a 44-unit apartment building at 11418 Missouri Avenue in Sawtelle, for $16.7 million, L.A. Business First reported. Developers Generation Real Estate Partners…

A roughly 9,200-square-foot mansion in Pacific Palisades listed for just shy of $20 million topped last week’s luxury home contracts in Los Angeles County. If the sale is finalized, it will be the first trade for the six-bedroom home at 1480 Capri Drive, which was built in 2021. The Bruce Bolander-designed property was also the…

A developer is looking to replace a shuttered Walgreens in Reseda with nearly 300 apartments.  Ariel Namvar of Park Sherman LLC has filed an application with the Los Angeles Department of City Planning to demolish the decommissioned pharmacy building and construct a seven-story building with 290 apartments at 18340 Sherman Way, Urbanize Los Angeles reported.…