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Ciaran McEvoy

Stories by Ciaran

Appeals Court Rules in Favor of AEW in Dispute With Shekhter Over Nine-Property Portfolio

A state appellate court affirmed a lower court ruling handing AEW Capital Management full control of a nine-property portfolio that’s the subject of a dispute with Santa Monica developer Neil Shekhter’s NMS Capital Partners, its former joint venture partner, who is accused of forging documents and destroying evidence.

Non-Bank Lenders Step Up as Banks Step Back

Post-recession growth most prominent in mortgage lending

A strong economy, heightened regulatory standards for banks, and a greater appetite for risk among many investors has led to brisk growth for non-bank lenders, a trend that’s played out with recent deals in Los Angeles.

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L.A. County Hotels Catch Up to National Pace

Occupancy, room rates expected to continue upward next year

L.A. hotels catch up with national market.

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IPO in the Works for Cushman & Wakefield

Cushman & Wakefield has filed paperwork with the Securities and Exchange Commission for its proposed initial public offering, the commercial real estate brokerage announced.

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WC+A Moving to Row DTLA

Advertising and graphic design studio Williams Corsi & Associates will move in September to 12,000 square feet at Row DTLA, located at 777 S. Alameda St. in downtown Los Angeles, after signing a 5-year lease.

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$40 Million Fund Launched for Real Estate Startups, Tech

CBRE Group Inc., RXR Realty and Cushman & Wakefield are investors in MetaProp

New York-based real estate venture capital firm MetaProp has launched a $40 million fund that has attracted CBRE Group Inc., RXR Realty and Cushman & Wakefield.

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Create Advertising Moving to 42,000 SF in Mid-Wilshire

Entertainment advertising agency Create Advertising Group has signed an 11-year lease for 42,000 square feet of office space at the Harbor Building at 4201 Wilshire Blvd in the Mid-Wilshire area.

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Ocean West Part of $70M Taft Building Pickup

REAL ESTATE: Partners with Westbrook to purchase iconic building

The Taft Building, located on the famed corner of Hollywood and Vine, has been sold

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Suit Alleges L.A. Trash Program Unlawful

GOVERNMENT: RecycleLA fees called illegal tax

L.A.’s trash collection program prompts a class action.

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ZipRecruiter Moves in Santa Monica

Company expands in former Google space

ZipRecruiter Inc. has moved its headquarters into 45,000 square feet of office space at 604 Arizona Ave. in Santa Monica, consolidating what were two offices in the city.

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Sunset Boulevard Office Building Purchased for $37.8 Million

Vanbarton Group, a New York-based real estate investment firm, has purchased a five-story, 74,000-square-foot office building at 6725 Sunset Blvd in Hollywood from Costa-Mesa based Crown Realty & Development Corp. for $37.8 million, or around $512 per square foot.

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ZipRecruiter Moves to New 45,000 SF Space in Santa Monica

ZipRecruiter Inc. has moved its headquarters into 45,000 square feet of office space at 604 Arizona Ave. in Santa Monica, consolidating what were two offices in the city.

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Taft Building in Hollywood Sold for $70 Million

The Taft Building, located on the famed corner of Hollywood and Vine, has been sold in an off-market transaction to a joint venture of El Segundo-based developer Ocean West Capital Partners and Westbrook Partners of New York for approximately $70 million, according to sources.

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Rolling Hills Medical Building Sold for $12.7 Million

Dayani Partners, a Beverly Hills-based real estate investment company, has purchased a four-story, 34,000-square-foot medical office building at 501 Deep Valley Drive in Rolling Hills Estates for $12.7 million, or about $398 per square foot.

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New COO at KB Home

KB Home has named Matthew Mandino as the Westwood-based homebuilder’s newest chief operating officer.

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Marina del Rey Warehouse Sold for $22.3 Million

Westside-based Montana Avenue Capital Partners has purchased a 56,300-square-foot warehouse located at 5005 McConnell Ave. in Marina del Rey for $22.3 million or $396 per square foot from Maria Creative Office of Mustang, Okla.

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Wilson Named Chief Executive at Manatt Phelps & Phillips

Bill Quicksilver will step down as Manatt Phelps & Phillips’ managing partner and chief executive officer next year and will be replaced by Donna Wilson, who currently chairs the law firm’s privacy and cybersecurity practice.

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Real Estate Accounting Expert Stan Ross, 82

Obituary

Stan Ross, who had a major and profound influence on real estate accounting through his long career, died at age 82 on Sunday from complications of a stroke.

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Five-Building, 27-Acre Campus in Torrance Sold for $124M

Minneapolis-based real estate firm FRM Associates has purchased a five-building, 574,000-square-foot, 27-acre campus at 3100-3110 Lomita Blvd and 3121 Skypark Drive in Torrance for $124 million, or $216 per square foot, nearly double what its sellers paid for it in 2016, according to CoStar Group Inc.

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Snap Pulls Top Execs Up – On Average

COMPENSATION: Spiegel accounts for bulk of jump

Snap Inc. pay packages pull average compensation way up for highest-paid chief executives, non-CEO executives in L.A. County.

WeWork Adds El Segundo

REAL ESTATE: Attributes move to spillover of demand from Santa Monica

WeWork adds three floors in El Segundo office tower.

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Mixed-Use Development Part of Fairplex Future?

Greenbelt could circle residential development near Metrolink station

Fairplex sheds light on live-work-play ambitions for facility’s development.

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WeWork to Open First El Segundo Location

WeWork Cos. Inc. plans to open three floors of space at Pacific Corporate Towers, located 222 N. Sepulveda Blvd in El Segundo in the fall of this year.

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South Pasadena Office Building Sells for $30.7 Million

Genton Cockrum Partners, a West Hollywood-based developer, has sold a three-story, 92,500-square-foot office building at 625 Fair Oaks Ave. in South Pasadena for $30.7 million, or about $332 per square foot, with a 4.3 cap, to GreenBridge Investment Partners, a Beverly Hills-based commercial firm, sources said.

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Canyon Partners Real Estate and Pasadena-based CIT Bank Buy Harvey Apartments in Hollywood

Century City-based investment firm Canyon Partners Real Estate and Pasadena-based CIT Bank have purchased the Harvey Apartments in Hollywood.

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Kennedy Wilson Deal: 6 Properties, $422M

2,200 apartment units spread over 4 states

Beverly Hills-based real estate investor Kennedy Wilson last week announced the $422 million sale of six apartment complexes across four states.

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Artisan Realty Buys Hollywood Retail Property for $61M

Artisan Realty Advisors of Santa Monica has purchased a two-building, 40,000-square-foot retail property in Hollywood for $61 million, or $1,525 per square foot, from limited liability companies Cahuenga Lofts and Ivar Group.

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Office Buildings in Pasadena, Glendale Hit the Market

Operating Engineers Funds Inc., a nonprofit that administers employee benefits for more than 20,000 union workers, is putting 301 N. Lake Ave., an 11-story, 208,000-square-foot office tower in Pasadena up for sale, sources said.

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LinQuest Acquired by Madison Dearborn, CoVant Management

LinQuest Corp., a Ladera Heights-based space technology solutions provider, has been purchased for an undisclosed amount by private equity firms Madison Dearborn Partners of Chicago and CoVant Management of McLean, Va.

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Kennedy Wilson Sells Six-Property Portfolio for $422M

Beverly Hills-based real estate firm Kennedy Wilson has announced the $422 million sale of six multifamily properties across four states – a portfolio totaling nearly 2,200 units.

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Security Tech App Raises $7 Million

TECHNOLOGY: Allows secure office entry via smartphones; draws local, Silicon Valley backers

Culver City-based office security tech firm Openpath launched May 22, helped by a $7 million funding round and local funds.

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JOHN CUSHMAN III

Chairman, Global Transactions, Cushman & Wakefield

John Cushman III, chairman of global transactions at Cushman & Wakefield, has been a key player in the development of downtown Los Angeles from its low-rise past to its high-rise present.

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High Note for Baldwin Park Retail Development

Newly-built fast-food chain property hits $1,225 PSF after several offers

A recent sale in Baldwin Park set a benchmark for retail space in the eastern San Gabriel Valley.

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Is Coworking Sustainable?

REAL ESTATE: Moves beyond roots in recession

Is the trend toward coworking spaces sustainable?

High Tide for Money Firms

FINANCE: Top 100 in L.A. notched 15.5% gain last year

Strong year for money managers.

SAG-AFTRA Building Gets $105 Million Refi Loan

New York-based commercial real estate finance firm Meridian Capital Group has arranged a 10-year $105 million loan for an affiliate of J.H. Snyder Co. to refinance the SAG-AFTRA Building at 5757 Wilshire Blvd on the Miracle Mile.

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Commercial Real Estate Exchange Lands $11 Million in Series A Financing

Commercial Real Estate Exchange Inc., a Marina del Rey-based marketing and technology platform, announced it has secured $11 million in series A financing led by Jackson Square Ventures of San Francisco.

Openpath Launches with $7 Million Raise

Culver City-based office security tech firm Openpath launched May 22, helped by a $7 million funding round and helped by local funds.

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Preferred Bank Expands Figueroa Headquarters

Preferred Bank has expanded its headquarters at 601 S. Figueroa St. in downtown Los Angeles to 37,000 square feet, landlord Brookfield Properties announced.

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Three-Building Campus in El Segundo Sells for $170 Million

San Francisco-based Swift Real Estate Partners has purchased a 549,000-square-foot three-building office campus at 2200, 2222 and 2230 E. Imperial Highway in El Segundo for $170 million, an unidentified industry source said.

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Glove Maker Austin Pang Pays $13.4M for New Building in Industry

Hong Kong-based Austin Pang Gloves Manufacturing Corp. has purchased a newly-constructed, 72,000-square-foot building at 17343 Freedom Way in the City of Industry for $13.4 million or about $185 per square foot.

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DivcoWest, CalSTRS Put L.A. in JV’s Sights

$300M in new commercial real estate fund

San Francisco-based investment firm DivcoWest Real Estate Services and the California State Teachers’ Retirement System last week said they will include Los Angeles as a target market for a $300 million joint venture for commercial real estate investments.

L.A. Real Estate Developer Charged With Bribery

The FBI has arrested commercial real estate developer Arman Gabaee, co-founder and co-managing partner of the Hollywood-based Charles Co., on criminal charges alleging he illegally paid off a Los Angeles County government employee who negotiated leases on the county’s behalf.

LAFC Moving to 25K SF Space Downtown

Los Angeles Football Club has signed a lease for 25,000 square feet of office space to house its headquarters at 818 W. 7th St. in downtown Los Angeles, CBRE Group Inc. announced.

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CalSTRS Strikes Joint Venture With DivcoWest Real Estate

San Francisco-based investment firm DivcoWest Real Estate Services has entered into a $300 million joint venture with the California State Teachers’ Retirement System, which will focus on acquiring commercial real estate throughout the nation.

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Private Equity Takes Top Spot in L.A. RE Scene

Funds go for riskier deals with end of cycle seen on horizon

Private equity takes center stage on Los Angeles deals.

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Rexford Industrial Realty Buys 36-Acre Property in Commerce

REIT also picked up industrial space in Anaheim, sold Ontario properties

Rexford Industrial Realty Inc., a Westside-based real estate investment trust, has bought two industrial properties – one in Commerce, the other in Anaheim – for a total price of $127.1 million, the company announced.

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WeWork Donating Space to Clean Energy, Smart Manufacturing Group

WeWork Cos. Inc. is donating space at its 10250 Constellation Blvd location in Century City to house the headquarters of Clean Energy Smart Manufacturing Innovation Institute (CESMII), a $140 million partnership between UCLA, the City of Los Angeles, the U.S. Department of Energy and the private sector.

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Edelman Extends Lease for 30,500-SF Space at 5900 Wilshire

New York-based public relations and marketing company Edelman has signed a five-year extension of its lease at 5900 Wilshire Blvd on the Miracle Mile, landlord Ratkovich Co. announced.

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Two Hyatt-Branded Hotels in Development Near LAX

Dual-branded Hyatt hotels are under development near Los Angeles International Airport at 5959 W. Century Blvd, according to the hotel company and CaRE Development/5959, an affiliate of Westside-based California Real Estate Regional Center.

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