Los Angeles Business Journal

LA REAL ESTATE

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

CBRE Names New Chairman

Downtown Los Angeles commercial real estate firm CBRE Group announced Monday that Ray Wirta has been chosen to succeed Richard Blum as chairman.

Earnings: J2 Global, Marcus & Millichap, Apollo Medical

J2 Global Inc. on Thursday reported a 26 percent rise in first-quarter net income, as the Hollywood provider of media services saw increasing strength in its cloud data backup services business. Marcus & Millichap Inc. reported soaring revenue the quarter, citing the continued recovery of the commercial real estate market. Apollo Medical Holdings Inc. reported a narrower loss and higher revenue in its last fiscal year, crediting a string of recent acquisitions and expansions.

Earnings: Health Net, Live Nation, Activision, PennyMac

Shares jumped Wednesday for Health Net, Live Nation Entertainment, and Activision Blizzard after the companies reported better-than-expected first quarter results. PennyMac Mortgage Investment Trust struggled, but affiliate PennyMac Financial Services met analyst expectations.

Equinox Leases Entire Retail Portion of Hollywood’s Camden Project

Camden Property Trust said today it had signed a 20-year lease with New York fitness club Equinox to take the entire 40,000-square-foot retail component of the Camden, a 287-unit residential project in development on Vine Street at Selma Avenue. The facility will be Equinox’s 15th in Los Angeles County.

KB Home Buys Lots in Santa Clarita

KB Home has purchased land to build two new subdivisions in Santa Clarita, the company announced Friday.

CBRE Shares Rise on Strong Earnings

Shares of CBRE Group Inc. rose nearly 9 percent on Thursday after the real estate services giant reported better-than-expected first quarter net income and revenue growth.

Oakwood Worldwide Strikes $4 Billion Expansion Deal

Extended-stay and corporate housing specialist Oakwood Worldwide on Wednesday announced a $4 billion joint venture deal that is expected to more than triple its global reach over the next five years.

American Homes 4 Rent Prices Offering

American Homes 4 Rent announced Wednesday the pricing for its secondary offering of preferred shares.

New Equity Partner for Downtown’s Pac Mutual Building

Downtown L.A. real estate company Rising Realty Partners announced today that its equity partner in the historic Pac Mutual building, New York investment firm Mount Kellett Capital Management, had sold its stake to Houston pension fund advisor Lionstone Group for an undisclosed price.

American Homes Plans Secondary Offering

American Homes 4 Rent on Thursday announced yet another public offering of preferred shares as it continues to acquire rental homes across the country.

CIM Buying Farmers Insurance Complex

Hollywood developer CIM Group on Monday said that it has agreed to buy Farmers Insurance Group's longtime headquarters on Wilshire Boulevard.

L.A. Airport Board Recommends Palmdale Lease

The Los Angeles Board of Airport Commissioners recommended approval on Monday of a five-year lease with Japanese railcar manufacturer Kinkisharyo International LCC for space in Palmdale.

Staging Comeback

Residential, retail developers look to get in on act as Hollywood’s star rises.

Residential and retail developers have taken a leading role in Hollywood’s revival.

Farmers Market Owner Gets Line on $100 Million

A.F. Gilmore Co. has obtained a $100 million credit facility from Wells Fargo Bank, secured by its iconic Farmers Market retail center in the Fairfax District.

McMorrow Makes Gift to USC Marshall

The University of Southern California and its Marshall School of Business announced Tuesday that local real estate executive William J. McMorrow made a substantial gift to the school to establish a global real estate program.