Los Angeles Business Journal

LA REAL ESTATE

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

Hotel Buyers Check In With Pricey Purchase

ACQUiSITION: $65 million for Figueroa could be per- room record for downtown.The Figueroa Hotel, an eclectic tourist haven that has been a fixture in downtown Los Angeles since the late 1920s, has been sold for $65 million, according to sources with knowledge of the deal.

By Bethany Firnhaber July 28, 2014 midnight   $$ Share

Partners Trust Real Estate Acquires Malibu Firm

Partners Trust Real Estate Brokerage & Acquisitions in Beverly Hills announced on Thursday it has purchased Arete Estates, a Malibu firm specializing in high-end real estate.

MacFarlane Partners Buys Downtown Property

Real estate firm MacFarlane Partners has completed its purchase of vacant downtown property near the intersection of Fifth and Olive streets in downtown Los Angeles where the company plans to build a pair of residential buildings.

Playa Vista’s Latitude Office Property Trades for $132 Million

ASB Real Estate Investments said today that it had sold Latitude 34, a prominent but vacant Playa Vista 300,000-square-foot office complex, for $132.7 million.

Rexford Industrial Buys Nine Buildings

Rexford Industrial Realty has acquired a nine-building portfolio of Southern California properties, the company announced Monday.

Point.360 Gets $1.6 Million for Unused Building

Digital media firm Point.360 reported a net gain of $1.6 million on the sale of an excess property the company owned near the crossing of Lexington Avenue and Vine Street in Hollywood.

Kennedy Wilson Affiliate Closes $1.2 Billion European Deal

A European affiliate of Beverly Hills real estate investment and services firm Kennedy Wilson has closed $1.2 billion worth of deals for properties in the United Kingdom.

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Home Prices Cross Threshold

The return of the bubble? Thanks to the economic recovery, the Westside tech boom, the end of the foreclosure wave and the return of cash-rich investors, L.A. has hit a milestone: The median home price has topped $500,000 for the first time in seven years.

99 Cents Only Relocating Headquarters in Massive Lease

Deep-discount retailer 99 Cents Only Stores Inc. has signed a mammoth lease for 615,000 square feet in the City of Commerce – the largest industrial infill lease ever signed in Los Angeles County.

Tutor Perini to Build Miami High-Rise

Tutor Perini Corp. has received a $255 million contract for construction of an 82-story, mixed-use apartment tower along Biscayne Bay in Miami.

CBRE Names New Chairman

Downtown Los Angeles commercial real estate firm CBRE Group announced Monday that Ray Wirta has been chosen to succeed Richard Blum as chairman.

Earnings: J2 Global, Marcus & Millichap, Apollo Medical

J2 Global Inc. on Thursday reported a 26 percent rise in first-quarter net income, as the Hollywood provider of media services saw increasing strength in its cloud data backup services business. Marcus & Millichap Inc. reported soaring revenue the quarter, citing the continued recovery of the commercial real estate market. Apollo Medical Holdings Inc. reported a narrower loss and higher revenue in its last fiscal year, crediting a string of recent acquisitions and expansions.

Earnings: Health Net, Live Nation, Activision, PennyMac

Shares jumped Wednesday for Health Net, Live Nation Entertainment, and Activision Blizzard after the companies reported better-than-expected first quarter results. PennyMac Mortgage Investment Trust struggled, but affiliate PennyMac Financial Services met analyst expectations.

Equinox Leases Entire Retail Portion of Hollywood’s Camden Project

Camden Property Trust said today it had signed a 20-year lease with New York fitness club Equinox to take the entire 40,000-square-foot retail component of the Camden, a 287-unit residential project in development on Vine Street at Selma Avenue. The facility will be Equinox’s 15th in Los Angeles County.

KB Home Buys Lots in Santa Clarita

KB Home has purchased land to build two new subdivisions in Santa Clarita, the company announced Friday.

CBRE Shares Rise on Strong Earnings

Shares of CBRE Group Inc. rose nearly 9 percent on Thursday after the real estate services giant reported better-than-expected first quarter net income and revenue growth.