LABJ WEEKLY EDITION

Health Care Special Report

The market for health care in the Southland has never been more robust.

Real Estate Investors Favor Senior Housing

The silver tsunami triggered by the aging of America is driving increased demand for senior housing, even in the face of a pandemic.

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Podcast Biz Is Heating Up

LA companies lead the way in a growing industry

An influx of investment is bringing new momentum to the podcast industry in Los Angeles, which has developed into a hub for the burgeoning medium.

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County’s Jobless Picture Gets Darker

Experts divided after May rate reaches 20.9%

While the nation’s jobless picture showed signs of improvement in May, Los Angeles County’s unemployment rate continued to surge last month, sparking debate among economists about the local outlook.

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Law Firms Embrace Remote Work

Quarantine prompts a ‘sea change’ for operations

Los Angeles law firms have undergone dramatic changes in less than three months — a response to the Covid-19 quarantine and emerging technology.

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LABJ INSIDER

Event Planning

Read this week's column from Los Angeles Business Journal Editor Scott Robson for goings-on in L.A.'s business community.

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Ares Raises $3.5 Billion for Distressed Investing

Private equity fund will pursue opportunities during Covid-19 downturn

Century City-based asset manager Ares Management Corp. has closed a $3.5 billion private equity fund.

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Pipe Technologies Raises $60 Million

Company will use funds for SaaS platform

Hollywood-based Pipe Technologies Inc. has raised $60 million in an extension of its February seed round.

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Lowe to Launch Retail Real Estate Unit

Program seeks underperforming sites

Brentwood-based Lowe, formerly Lowe Enterprises, has announced plans to create a new group focused on redeveloping and repositioning regional retail properties.

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Malls May Be Open, but Many Stores Are Still Shut

Nearly one-quarter of shops have yet to reopen

Almost a month after local shopping centers got a green light to reopen, about a quarter of their storefronts remain dark.

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Marketing Agency Quantasy Makes Cultural Connections

Agency works with Google and Honda

Will Campbell, co-founder and chief executive of digital creative agency Quantasy & Associates, does not define the downtown-based company as a multicultural marketing agency, even though it can boast a diverse roster of clients.

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LA Real Estate Sales Slow Drastically During Lockdown

The commercial real estate market hasn’t stopped since stay-at-home orders were enacted in Los Angeles and the rest of California in mid-March.

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AR Startup Vertebrae Rides Ecommerce Wave

Company’s tech sees increased use amid lockdowns

The quarantine that has fast-tracked ecommerce — it’s expected to increase 18% to $709 billion this year and represent 14.5% of total U.S. retail sales, according to industry researcher eMarketer Inc. — has also been a boon for augmented reality software developers focused on retail.

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Mattel Names Campbell Soup Veteran DiSilvestro as CFO

Hiring follows investigation into accounting practices

El Segundo-based toy maker Mattel Inc. has brought on two new executives for key positions.

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Yoshinoya Ramps Up Digital Platforms

Fast-casual chain upgrades app's ordering capabilities

With the Covid-19 pandemic settling in for an extended run in much of the country, the phrase “adapt or perish” seems to be the mantra for many retailers and restauranteurs.

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Gold Line Extension Work to Resume

Glendora to Pomona might be final extension

Major construction gets underway next month on the latest — and possibly final — segment of the Foothill Gold Line Extension light rail project.

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Recycled Water Project Comes Online in Torrance

West Basin pipeline serves Torrance business park

The West Basin Municipal Water District announced the completion of a recycled water pipeline at Sares Regis Group’s Torrance Commerce Center on the site of the former Toyota Motor North America Inc. headquarters campus.

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8minute Solar to Build Kern County Facility

Kern facility could power roughly 93,000 homes a year

Mid-Wilshire-based 8minute Solar Energy has signed a contract to develop a 250-megawatt solar energy and storage project in Kern County.

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Carson Industrial Sites Sell for $64 Million

Brookfield acquires industrial sites in sale-leaseback deal

Brookfield Asset Management Inc. has purchased two industrial buildings in Carson for $63.6 million, records show.

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Universal Standard Takes Modular Approach to Housing

Developer seeks to create more workforce apartments

Downtown-based Universal Standard Housing is trying to create more workforce housing in Los Angeles and sees modular building as the way to do it.

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Arcadia Apartment Property Sells for $9 Million

Starcrest changes hands for first time in 40 years

A 28-unit multifamily property in Arcadia has sold for nearly $9 million — the highest purchase price of any multifamily property in the city in the last year.

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Wilshire Vermont Property Gets $135 Million Recapitalization

Klein Financial, Divco West partner on multifamily recapitalization

The Wilshire Vermont multifamily property in Koreatown has at least one new owner.

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Heavy Duties

Gene Seroka guides the Port of LA — and the city’s PPE supply efforts

Gene Seroka, the executive director of the Port of Los Angeles, picked up additional duties in March when Los Angeles Mayor Eric Garcetti named him the city’s chief logistics officer.

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Designs That Keep Diversity in Mind

Mambetov aims for ‘modest, not Muslim’

For L.A. fashion designer Elle Mambetov, the Covid-19 outbreak has meant figuring out how to introduce a new fashion line without the benefit of a traditional live runway show.

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Quantgene Dials in Tests

Startup puts focus on cancer and Covid-19

Santa Monica health tech startup Quantgene Inc. is one of dozens of companies racing to revolutionize cancer detection screening by using only a drop of blood instead of the intrusive biopsies prevalent today.

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Letter from the Publisher and Editor

As our communities look for ways to move forward constructively, the need to effect change has never been greater. The business world is uniquely positioned to help drive that change — particularly in Los Angeles.

Silverstein Pursues US Bank Tower

Developer could pay up to $490 million

New York-based Silverstein Properties Inc. is reportedly in talks to acquire downtown’s U.S. Bank Tower from Singapore-headquartered OUE Ltd.

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