LA REAL ESTATE

Luxury Car Dealer Sells Malibu Mansion for Nearly $16M

The owner of a luxury car dealership in Texas has sold his five-bedroom, six-bathroom oceanfront dwelling in Malibu for about $15.9 million, according to listing agent Madison Hildebrand of Partners Trust Malibu.

Anda Realty Picks Up $15M Pasadena Office

Anda Realty has purchased a downtown Pasadena office building for $15 million, or $273 a square foot, in an area it knows very well: the corner across the street from its headquarters.

Cornfield Park Set to Open in April After Three-Year Closure

Residents of L.A.’s urban jungle will soon have access to more open green space.

Co-Working Company Pulls Out of Row DTLA

Real Office Centers has pulled out of its 15-year lease for 27,000 square feet at Atlas Capital Group’s Row DTLA in downtown’s Industrial District, said Ron McElroy, the co-working company’s chief executive.

Waterfront’s Future Adrift After Redondo Beach Voters Reject $400 Million Project

Coast Unclear

Redondo Beach voters throw cold water on a $400 million facelift for the city’s aging pier.

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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.

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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.

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.

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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.

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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