LA REAL ESTATE

Kor Group Acquires Custom Hotel for $33 Million

Venice-based Kor Group has acquired the 12-story boutique Custom Hotel in Westchester for $33 million, according to CoStar data.

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Contractors Struggling to Find Skilled Labor

Three out of four construction firms working in commercial real estate across the western U.S. reported difficulty recruiting skilled carpenters, bricklayers, painters and other workers, according to a survey released this week.

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Westin Long Beach Hotel Sold for $84.8 Million

The Westin Long Beach hotel sold for about $84.8 million this month, a loss of almost $4 million from the last time it changed hands in 2006, according to real estate data firm Real Capital Analytics Inc.

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Brokerage Unions Unlikely to Faze L.A. Market

Larger entities scooping up smaller operators a natural part of cycle, analysts say.

The mergers of two local brokerages with national real estate companies announced this month will bring little to no change to the industry, analysts said.

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Universe Holdings Buys Nob Hill Towers for $12.6 Million

Century City-based Universe Holdings, a privately held multifamily investment firm, has completed a $12.6 million acquisition of the Nob Hill Towers apartment community located in the Westlake district of Los Angeles.

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Lincoln Heights Filming Location Sells for $20 Million

Downtown-based production company Buck Design has purchased Columbia Mills, a nine-building complex in Lincoln Heights, for $20 million, according to a brokerage involved in the deal.

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Long Beach Airport Opens 30 Acres for Development

More than 30 acres of land have been made available for aeronautical use at Long Beach Airport, city officials announced Tuesday.

Grounds for Growth

New Fairplex CEO Miguel Santana sees room for more business at 487-acre site

Los Angeles County Fair Association’s new CEO works to boost the fairground’s attraction to a range of ventures.

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Sunset Group Acquires Long Beach High-Rise for $133 Million

West Hollywood’s Sunset Group has purchased a high-rise multifamily property, known as the Current, in downtown Long Beach for $132.9 million, according to data from real estate services firm Jones Lang LaSalle.

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15-Acre USC Village to Open Thursday

The student-housing hub called USC Village, one of the largest developments ever built in South Los Angeles, is set to open to fanfare Thursday.

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CBRE Acquires 25-building Medical Office Portfolio

Downtown-based CBRE Global Investment Partners has acquired a 95 percent interest in a 25-building U.S. medical office portfolio, the company announced Wednesday.

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DoubleTree Near LAX Sold for $54.1 million

The 216-room DoubleTree by Hilton Hotel LAX in El Segundo was recently sold for almost $54.1 million, or $110,500 per room, according to CoStar data.

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Hotels Stay Hot With 2017 Deals

Hotel acquisitions continue on pace in 2017 without reservations.

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Big Score for Park

Special Report: Business of Sports

LAFC’s stadium will join a growing field of attractions at Exposition Park.

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Arts District’s Growth Prospects May Lead South

Industrial properties below Seventh Street appear ripe for conversion, exec says.

Ask Cushman & Wakefield’s Arts District specialist Jae Yoo where the boundaries of the neighborhood are going to expand and he’ll point south of Seventh Street.

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