Los Angeles Business Journal

LA REAL ESTATE

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

Newhall Ranch Project Sued Again

The Newhall Ranch development hit yet another snag this week as environmentalists filed a federal lawsuit to halt construction.

Large San Pedro Development Approved

An expansive residential development project in San Pedro nearly 10 years in the making gained final city approval today.

L.A. Council Renews Westfield Tax Breaks

The L.A. City Council renewed its approval on Tuesday for a set of tax breaks for the Village at Topanga project by Australian mall developer Westfield Group.

CBRE Completes German Acquisition

CBRE Group Inc. on Monday said that it closed its acquisition of Valteq Gesellschaft, a German real estate consulting firm.

Rexford Industrial Acquires South Bay Complex

Rexford Industrial Realty Inc. has acquired a six-building industrial complex in the South Bay area of Los Angeles for $6.6 million.

Sylmar Shopping Center Sells After Numerous Bidders

The Sylmar Square Shopping Center has sold for $16.8 million – the largest retail sale in the northeast San Fernando Valley in more than a year.

Developer Evoq Properties Considering Sale of Business

Downtown L.A. developer Evoq Properties Inc. announced today that it was exploring “strategic alternatives,” including a possible sale of the company.

Shorewood Realtors Sold to Denver Investor

South Bay residential real estate brokerage Shorewood Realtors Inc. has been acquired by Denver real estate holding company Herman Group for an undisclosed price.

Mercedes-Benz to Turn Former Boeing Plant into Regional HQ

Mercedes-Benz USA plans to use a leased 1.1 million-square-foot former Boeing facility in Long Beach for a training center, vehicle preparation facility and its western U.S. regional office.

Earnings Roundup: Edison, Tutor Perini

Edison International moved to a profit in the fourth quarter as the company nears completion of the sale of its money-losing power-generation unit.

Earnings Roundup: On Assignment, Reliance Steel, LTC

Shares of On Assignment Inc. rose more than 7 percent on Thursday, after the staffing company reported strong fourth quarter results.

Mayor Takes Steps to Cut Permit Red Tape

Los Angeles Mayor Eric Garcetti on Tuesday ordered the city’s planning and building and safety departments to consolidate key functions and take other steps to cut red tape for developers.

Tease photo

Building Interest

Investor moves crowdfunding model into real estate

It may have seemed unremarkable when Beverly Hills real estate company Realty Mogul Co. invested in five Baldwin Hills apartment buildings last month in deals that totaled $15 million. But it was remarkable because of this: They were financed through crowdfunding.

Rexford Industrial Buys Ontario Industrial Park

Rexford Industrial Realty Inc. on Thursday said it acquired Ontario Airport Business Park next to LA/Ontario International Airport for $8.55 million.

Earnings Roundup: J2 Global, Oaktree, VCA Antech

J2 Global Inc. shares jumped 19 percent in after-hours trading Thursday after the Hollywood company reported better-than-expected adjusted profit and gave optimistic future guidance. Oaktree Capital Group on Thursday said its fourth-quarter profit rose 65 percent. VCA Antech Inc. said that it moved to profit in its fourth quarter as revenue from its veterinary clinics and laboratories grew.