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State Ruling Puts Brokerages on Notice in Regards to Disclosure

A Look Ahead: What’s on the agenda for Los Angeles business in the coming weekCalifornia real estate companies might need to start taking extra care when operating as agents for both the buyer and seller of a property after a state Supreme Court ruling last week.

By Hayley Fox November 25, 2016 midnight   Share

Report Says SoCal Construction Still Faces Problems

Construction is booming in Los Angeles and throughout Southern California. Downtown towers are sprouting up left and right, a new $1.5 billion bridge spanning the mouth of the Los Angeles River at the Port of Long Beach is taking shape, and a $2.6 billion football stadium for the Los Angeles Rams broke ground last month in Inglewood. But a new report by the Los Angeles Economic Development Corp., “Building the Future: Construction in Southern California,” says the region still hasn’t fully recovered from the recession and that the construction industry faces a challenging regulatory environment and high costs.

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Soon-Shiong and Ferro Stock Up on Additional Tronc Shares

Michael Ferro, chairman of L.A. Times owner tronc Inc., has purchased an additional 42,126 shares of stock in the company, according to a Nov. 28 filing with the Securities and Exchange Commission. The stock was acquired through Ferro’s investment vehicle, Merrick Venture Management Holdings, at an average cost of $12.93 a share for a total transaction of about $545,000.

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Under Cloud

Tax hikes could burn vaping shops, customers

Vaping businesses fear a new state tax will leave little breathing room for their profit margins.

Lincoln and Rockwood Buy El Segundo Office for $120 Million

Lincoln Property Co. and Rockwood Capital are diving into the South Bay office market with their purchase last week of a 355,000-square-foot office campus in El Segundo. The property - comprised of three office buildings and two retail properties - sold for $120 million, or roughly $338 a square foot, according to a source familiar with the deal. DivcoWest, the seller, declined to comment. Lincoln plans to spend millions on a year-long renovation, part of a plan to attract technology, media, and entertainment companies to fill the office space that is currently half empty, said Rob Kane, Lincoln’s senior vice president.

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Cedars-Sinai Buys Miracle Mile Office for $295 Million

Cedars-Sinai snapped up a 24-story office tower on Wilshire Boulevard for $295 million this month, or nearly $646 a square foot. That makes it the priciest deal per square foot on Miracle Mile in at least the past decade, according to CoStar records. The seller was Morgan Stanley & Co., which had purchased the site in 2010 for $174 million, or about $380 a square foot. The seller was Morgan Stanley & Co., which had purchased the site in 2010 for $174 million, or about $380 a square foot.

Movers for Week Ending November 18, 2016

Glendale-based Apollo Medical Holdings Inc. was the week’s biggest gainer, rising 29 percent to close at $4. Guidance Software Inc., the Pasadena investigative software company, also saw big gains, shooting up 24.9 percent to close the week at $6.81. The week’s biggest laggard was Commerce-based furniture maker Nova Lifestyle Inc., which sank 25.4 percent to close at $2.41.

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Zoning Out

Development struggles in part stoked by social media have Jerry Snyder strictly focused on entitled properties

Jerry Snyder talks L.A. development and why he’s no friend of social media.

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Dodgers’ Accelerator Goes to Bat for Growth-Stage Companies

A Look Ahead: What’s on the agenda for Los Angeles business in the coming week

While the Los Angeles Dodgers’ baseball season ended last month, the second season of the club’s three-month accelerator program is nearing its grand finale.

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Hotel Project Would Dig Deep for Beverly Hills

DEVELOPMENT: China’s Dalian Wanda OK with additional taxes, fees.

Chinese developer Dalian Wanda Group is poised to pay megabucks to the city of Beverly Hills in an unprecedented development deal for the construction of its elite condo-hotel project, One Beverly Hills.

Houlihan Announces Strong Second Quarter Earnings

Century City investment bank Houlihan Lokey Inc’s second quarter earnings report showed revenues were up 18 percent over the same period last year with the company bringing in $187 million in the second quarter.

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Trump’s L.A. Golf Course Still Carrying Handicap

REAL ESTATE: Property value may lie in residences.

Donald Trump is still looking for the green from his 2002 acquisition of an L.A. golf course.

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Ad Tech Firm Restocks Brass, Jumps to Nasdaq

INTERNET: Social Reality hires new CFO, turns to Kathy Ireland for advice.

Ad tech firm Social Reality boards Nasdaq on the back of acquisition-fueled growth.

Axium International CEO John Visconti Convicted of Tax Fraud

John Visconti, former chief executive of Axium International Inc., was convicted on Tuesday of tax evasion, conspiracy to defraud the Internal Revenue Service, and filing a false tax return.

Siemer & Associates Acquired by Chinese Firm CEC Capital Group

CEC Capital Group has reached a deal to acquire Santa Monica’s Siemer & Associates, a boutique advisory firm specializing in the media and technology space.