Los Angeles Business Journal


Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...
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Doctor’s Venture Nurses Physicians’ Home Loans

REAL ESTATE: Lenders say there’s less risk banking on medical field’s high incomes.

Dr. Peter Kim has found a healthy side gig in helping secure physician home loans for clients.

Amazon May Be Looking to Book Space in L.A.

Amazon.com Inc. announced plans last week to open its 10th bookstore in its hometown of Seattle. Los Angeles could be next.

Hotelier Jeff Klein Set to Buy Sunset Tower Hotel

West Hollywood’s Sunset Tower Hotel is slated to sell to a long-time stakeholder after going on the market last month. Hotelier Jeff Klein, who owns just under a quarter of the Sunset Strip property, is in escrow to buy the remaining stake for about $75 million, according to sources familiar with the deal. That would make the building’s full value $95 million, or $1.2 million a room.

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Market Known for Rental Properties Moves into Condo Projects

Diving in Downtown

Condo projects have come knocking downtown, a market traditionally targeted for rentals.

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Home Brokers Put Money on Snap’s Millionaires

HOUSING: Agents scramble to connect sellers, buyers in pricey, tight Westside market.

Residential brokers are homing in on Snap employees enriched by the recent IPO.

Bel Air Spec House Asks $24.9 Million

A $24.9 million spec house has hit the market in Bel Air, developed by former Hollywood producer-turned-developer Tariq Jalil and architect Cain Calderon Leon, who also designed the home.

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Workers in Silicon Beach Find Coast Costly

HOUSING: Playa Vista units prove pricey despite high pay.

Playa Vista’s pricey units reside outside the reach of many of those employed in the community.

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USC Buys Medical Office on Health Sciences Campus

USC has added a medical office building to its immense real estate portfolio, purchasing the 150,000-square-foot site on the USC Health Sciences Campus where it had leased space from owner Doheny Eye Institute, a nonprofit affiliated with rival school UCLA.

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DivcoWest buys Glendale Plaza for $179M

A 25-story office tower in Glendale was sold on Tuesday for $179 million, according to a source familiar with the deal, a steep discount from its prior sale about a decade ago for $215 million.

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Santa Monica Telephone Building Sells to DivcoWest for $52.5M

Santa Monica’s Telephone Building, a recently renovated office building half a mile from the beach, was sold Monday to real estate investment firm DivcoWest for $52.5 million, according to a source familiar with the deal.

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City Council Votes Against Cultural Monument Status for Bob Hope Estate

The battle that pitted the family of legendary entertainer Bob Hope against a Los Angeles city councilman has come to a close.

West Hollywood Sunset Tower Hotel Targets $100M Sale

West Hollywood’s Sunset Tower Hotel went on the market for roughly $100 million last week, according to a source familiar with the site.

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State Law Unlocks Secondary-Dwelling Options for Homeowners

Knock Knock

Homeowners make room for secondary dwellings under a more lenient California law.

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Japan Investor Mitsui & Co. Plants L.A. Flag

REAL ESTATE: CIM sells 20 percent stake to Mitsui.

CIM Group opens up to Japan by selling a 20 percent stake to Mitsui.

New Partnership Opens Doors for Real Estate Investor

With property valuations hitting highs not seen since before the Great Recession, Brentwood real estate investment firm Partners Capital decided 18 months ago to do something a little different: bet on debt.