Bethany covers the real estate industry.
REAL ESTATE: $175 million sets new total-dollar high for downtown market this year.
Downtown tower hits high mark this year in $175 million sale.
ACQUISITION: SM pays $76.5 million for home to media, entertainment firms.
Beverly Hills real estate company SM Management has purchased the Class A office tower at 6100 Wilshire Blvd. for $76.5 million, about $358 a square foot.
In one of the priciest downtown L.A. office deals since the recession, real estate investment management company Cornerstone Real Estate Advisers has negotiated to buy the tower at 801 S. Figueroa St. for about $175 million, according to sources familiar with the transaction.
A 60-unit apartment complex just five blocks from the beach in Santa Monica sold recently for $26.5 million, or nearly $442,000 a unit.
British hospitality company InterContinental Hotels Group announced Tuesday that it would operate the hotel atop the $1.1 billion Wilshire Grand project in downtown Los Angeles.
Danny Zappin, co-founder and former chief executive of Maker Studios Inc., has cinched coveted creative space in Venice for a fledgling digital media studio.
FOOD: Popchips to ditch San Francisco headquarters for Playa Vista building.
San Francisco healthy snack maker Popchips has new Playa Vista headquarters in the bag.
ACQUISITION: Property aimed at entertainment tenants sells for $22 million.
Burbank Civic Plaza, a Class A office building in the city’s civic center, has sold to a Chinese investment group for $22 million, or about $287 a square foot.
Mark Robinson knew when he embarked on an African safari this summer with his wife, Pamela, that he’d get to see all kinds of wildlife up close. But the executive director of Cushman & Wakefield’s Century City real estate brokerage never imagined just how close.
A Sunset Boulevard apartment building with 183 units has sold for $92.7 million, about $507,000 a unit.