Los Angeles Business Journal

LA REAL ESTATE

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

James Frost Promoted to COO of Tutor Perini

Tutor Perini Corp. has promoted longtime company executive James Frost to president and chief operating officer.

Larsen, Leading Downtown Broker, Lands at Avison Young

Jonathan Larsen, the former regional managing partner at DTZ/Cassidy Turley’s downtown L.A. office, has assumed the role of managing director and principal at Avison Young.

Hackman Sells Beats HQ in Culver City

Hackman Capital Partners, a West L.A. real estate investment and development firm that wagered on creative office space in Culver City nearly a decade ago, has seen its bet pay off.

Hollywood Company Plans Sun Valley Studio Complex

A Hollywood film and television production and rental company is proposing to build a 220,000-square-foot studio complex on 10 acres in Sun Valley.

Cerritos Industrial Site Trades for Premium Price

Newport Beach investor Alere Property Group bought the 17.5-acre Cerritos West Industrial Park late last month, banking on its ability to take advantage of a tight industrial market by raising rents.

Laurus Pays Top Dollar for Pasadena Office Property

Century City real estate investment and development firm Laurus Corp. has purchased a 163,000-square-foot, eight-story building in Pasadena for $52.5 million.

Playa Vista’s Reserve Sells for $316 Million

The Reserve, a nearly 400,000-square-foot creative office campus in Playa Vista, was sold last week to Atlanta real estate fund Invesco for $316 million. At about $790 a square foot, the price was among the highest paid for an office property in the region.

Downtown L.A.’s Biggest Landlord Seeks to Hack Through Vacancies

One way to address a whopping large vacancy in your office building is to dress it up a little. That’s what Brookfield Property Partners, the largest office landlord in downtown Los Angeles, will be doing for two of its properties. The company has set up a competition of sorts among six downtown architecture firms, asking them to design the office of the near future, with only budgets and time lines as the ground rules.

L.A. Multifamily Properties Lure Out-of-Town Investors

Laguna Niguel real estate investor Raintree Partners significantly boosted its L.A. presence at the end of the year, snapping up a two-property multifamily package that added 327 units to its portfolio.

DTZ Shakes Up Staff at Downtown L.A. Offices

Fallout from the year-end purchase of real estate brokerage Cassidy Turley by an affiliate of DTZ Investment Holdings has hit Los Angeles.

Ryland Beats Wall Street Estimates

Ryland Group Inc. reported fourth-quarter and full-year earnings on Thursday that beat Wall Street estimates as the company benefited from higher home sales and pricing.

Commerce Escrow and RPM Investments Acquired

Downtown L.A.’s Commerce Escrow Co. and affiliate RPM Investments Inc. have been acquired by Opus Bank of Irvine in a cash-and-stock deal.

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Rising Realty Partners Buys Figueroa Courtyard

Downtown Los Angeles real estate developer Rising Realty Partners has acquired the Figueroa Courtyard, a five-building low-rise office park in downtown Los Angeles. The purchase price was not disclosed.

Developer Drops Trancas Town Lawsuit, Ending Malibu Feud

A two-decade long development battle in Malibu came to an abrupt close last week when developer Trancas PCH dropped its lawsuit against the city.

TetraTech Engineers Lease Renewal for Corporate HQ

Pasadena engineering and construction management company Tetra Tech Inc. closed 2014 by committing to keeping its headquarters in the San Gabriel Valley.