LA REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...

Century City Mall Rises With $1 Billion Makeover

RETAIL: Westfield property bags seventh spot as site bids to compete in online era.Westfield Century City looks to sell shoppers on the mall experience with experiential attractions.

Massive Newhall Ranch Project Wins Approvals

Half of the massive Newhall Ranch development project sailed through approvals Tuesday at a public hearing by the Los Angeles County Board of Supervisors.

Downtown Motel to Check Out After $26.5 Million Sale

ACQUISITION: China-linked buyer plans to build 24-story residential-retail building.

A parcel near downtown’s Financial District sold last month for $26.5 million, or $795 a square foot, to a developer that plans to build a 24-story condominium tower in place of a decades-old motel.

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Fifth Wall Ventures Powers Up Accelerator Program

Fifth Wall Ventures plans to launch an accelerator program aimed at companies valued under $20 million in the real estate tech space, the firm announced Wednesday.

Prominent L.A. Developer David Wilstein Dead at 89

Prominent L.A. commercial real estate developer David Wilstein, founder of Realtech Construction Co., died Sunday at age 89, executives at the company announced Monday.

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Walking Mall Now Pedestrian

Not all Santa Monica Promenade landlords have been sold on plans to improve the tenant mix.

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Homebuilder Welcomes Street-Beating Quarter

CONSTRUCTION: Spike in revenue, completed projects boosts KB Home earnings.

Westwood-based national homebuilder KB Home reported positive second-quarter earnings last week, spurred by an increase in revenue and completed projects, according to a June 27 filing with the Securities and Exchange Commission.

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Paul Matt, Co-Founder of Matt Construction, Dies at Age 85

Paul Matt, the co-founder and chairman of downtown-based Matt Construction that built major L.A. projects including the Broad museum and Waldorf-Astoria Hotel, died on Friday. He was 85.

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Los Angeles Times to Stay Put in Historic HQ for Now

The Los Angeles Times has no immediate plans to relocate operations after its historic downtown headquarters was sold nine months ago, despite media reports to the contrary, a spokeswoman for the newspaper said.

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El Segundo Hotels Sold for $97 Million

A pair of hotels in El Segundo near Los Angeles International Airport sold last month to New York’s Blackstone Group for nearly $97 million, public records show.

Buzz About Potential Lease Deals at Wilshire Grand

REAL ESTATE: Two tenants could boost occupancy at newly opened tower.

Two leases could get the towering Wilshire Grand Center halfway to filling its office space.

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Investor Cranks Up Industrial Stake in South Bay

ACQUISITION: Rexford’s $30.5 million deal expands holdings in tight submarket.

West L.A.-based real estate investment trust Rexford Industrial got a toehold in one of the country’s tightest industrial submarkets.

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Little Tokyo DoubleTree Sold for $115 Million

The 434-room DoubleTree by Hilton hotel in downtown’s Little Tokyo has been sold for $115 million, or $264,562 a room, according to industry tracker CoStar Group Inc.

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L.A. City Council Approves Construction of Lucas Museum at Exposition Park

The Los Angeles City Council on Tuesday unanimously approved the construction of the $1 billion Lucas Museum of Narrative Art in Exposition Park.

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Speedy Century City Office Deal Delivers Discount

SALE: Investment partners get 33,000 square feet in tight market for $14.7 million.

Time was money in a rare case of distress in Century City’s robust office market.

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Koreatown Apartments Sell for $10.5 Million, Slated for Demolition

A Woodland Hills-based real estate investor has purchased five apartment buildings in Koreatown for $10.5 million with plans to tear down the properties, according to CBRE, which represented the seller.

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