Recent and archived news stories on: Commercial real estate, residential real estate, housing, architecture, engineering, real estate brokers, construction, property development, property management

Greenland Lands $310M Loan for Metropolis’ Third Tower in DTLA

Cottonwood Group, a downtown Los Angeles-based real estate investment firm, and Natixis, a French lender, have arranged a $310 million senior construction loan facility to complete the third luxury residential tower in Greenland USA’s Metropolis project.

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Xenon Investments Corp. Picks Up Las Palmas Villa Apartments for $28 Million

The 81-unit Las Palmas Villa Apartments in Hollywood Hills has sold for just over $28 million, according to CBRE Group Inc.

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Inception Launches Cannabis REIT

The Inception Cos., a cannabis-focused private investment companies with offices in Beverly Hills and London, has launched a cannabis-focused real estate investment trust.

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Mary Ricks Named President at Kennedy Wilson

Beverly Hills-based real estate investment firm Kennedy Wilson has named long-time executive Mary Ricks as its president, a newly-created position.

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Four Industrial Buildings in Commerce Sell for More Than $20M

Karney Properties Co., a Brentwood-based real estate firm, has sold four industrial buildings totaling roughly 120,000 square feet in Commerce for more than $20 million.

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Colliers Acquires Glendale’s CBC Advisors and Adds 10th Area Office

Toronto-based Colliers International Group Inc. has closed on its purchase of CBC Advisors in Glendale, a commercial real estate brokerage franchise, according to Colliers.

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Aecom Announces Repurchase of $150M of Shares

Century City engineering and construction firm Aecom on Aug. 9 announced the repurchase of $150 million worth of shares, the initial action under a $1 billion share repurchase authorization from the board last September.

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Culver City DoubleTree Hotel Acquired for $151.5M

Woodbine Development Corp., a Dallas-based real estate firm, has purchased the 375-room, 255,000-square-foot DoubleTree by Hilton Hotel and its two acres of land at 6161 W. Centinela Ave. in Culver City for $151.5 million from private equity firm Carlyle Group of Washington, D.C., according to industry tracker CoStar Group Inc.

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Five Office Buildings in Cerritos Acquired for $89.5 Million

Cress Capital, a Newport Beach-based private equity firm, has purchased a portfolio of five office buildings totaling nearly 462,000 square feet at Cerritos Towne Centre for $89.5 million from Principal Real Estate Investors, a Des Moines, Iowa-based limited liability company.

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El Segundo Campus Sold for $39 Million

Atlas Capital Group, a New York-based real estate investment firm, has purchased Insite, a two-building, 102,000-square-foot office campus at 2030 E. Maple Ave. in El Segundo for $39 million from SteelWave, a property firm from Foster City, Calif.

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CBRE Global Investors Moving HQ in Downtown

CBRE Global Investors will move its headquarters about one block from its current location at City National Plaza after signing a lease for 32,000 square feet at the Figueroa at Wilshire building at 601 S. Figueroa St., according to landlord Brookfield Properties.

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Silicon Beach Report Aug. 6: Facebook Joins Forces With MomentFeed Startup

Facebook joins forces with MomentFeed startup; Zillow hires exec to lead digital content; SpaceX plans second reusable launch

Highland Residences in Hollywood Sells for $52M

Goldrich Kest, a Culver City-based property owner and manager, has purchased the Highland Residences, a six-story, 76-unit, 68,000-square-foot apartment building at 1411 N. Highland Ave. in Hollywood, for $52 million.

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Developer Picks Up Westside Residential Property for $7 Million

California Landmark Group, a Westside-based developer, has purchased 10,000 square feet of property at 3812-3818 Dunn Drive in Los Angeles, adjacent to Culver City, from Westside-based real estate firm Napa Industries for $7 million or nearly $700 per square foot, according to NAI Capital.

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Cerritos Towne Center Office Building Sells for $24 Million

West Coast Capital Partners, a Torrance-based real estate investment company, has purchased the five-story, 105,000-square-foot 12800 Center Court Drive South in Cerritos for about $24 million, or around $229 per square foot, according to sources close to the deal.

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