Los Angeles Business Journal

LA REAL ESTATE

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

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.

Glendale Office Garners Highest Post-Recession Price

A 16-story office building in Glendale sold last month for more than $83 million, a price not seen in the city since before the recession.

Forecloses Jump in December, Fall in 2014

Foreclosures in Los Angeles County jumped significantly in December, up 44 percent from November. But despite the month-over-month increase, the 2014 foreclosure rate countywide was down 18 percent from 2013, according to a report released Thursday.

Venice Office to Return to Retail Roots

A small Class C office building, along with an adjacent parking lot, at the west end of Abbot Kinney Boulevard in Venice sold last month for $15.5 million.

KB Home Plunges After Warning of Lower Margins

Despite reporting a year-end surge in profits, Los Angeles homebuilder KB Homes saw its stock plummet 16 percent Tuesday after its chief executive said the company expected a drop in gross margins in the current quarter.

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Beachbody Bulks Up in Santa Monica

Santa Monica multilevel marketing firm Beachbody, best known for infomercials selling its exercise and body-sculpting DVD programs Insanity and P90X, is bulking up at the beach.