Los Angeles Business Journal

LA REAL ESTATE

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

Mercedes-Benz to Turn Former Boeing Plant into Regional HQ

Mercedes-Benz USA plans to use a leased 1.1 million-square-foot former Boeing facility in Long Beach for a training center, vehicle preparation facility and its western U.S. regional office.

Earnings Roundup: Edison, Tutor Perini

Edison International moved to a profit in the fourth quarter as the company nears completion of the sale of its money-losing power-generation unit.

Earnings Roundup: On Assignment, Reliance Steel, LTC

Shares of On Assignment Inc. rose more than 7 percent on Thursday, after the staffing company reported strong fourth quarter results.

Mayor Takes Steps to Cut Permit Red Tape

Los Angeles Mayor Eric Garcetti on Tuesday ordered the city’s planning and building and safety departments to consolidate key functions and take other steps to cut red tape for developers.

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Building Interest

Investor moves crowdfunding model into real estate

It may have seemed unremarkable when Beverly Hills real estate company Realty Mogul Co. invested in five Baldwin Hills apartment buildings last month in deals that totaled $15 million. But it was remarkable because of this: They were financed through crowdfunding.

Rexford Industrial Buys Ontario Industrial Park

Rexford Industrial Realty Inc. on Thursday said it acquired Ontario Airport Business Park next to LA/Ontario International Airport for $8.55 million.

Earnings Roundup: J2 Global, Oaktree, VCA Antech

J2 Global Inc. shares jumped 19 percent in after-hours trading Thursday after the Hollywood company reported better-than-expected adjusted profit and gave optimistic future guidance. Oaktree Capital Group on Thursday said its fourth-quarter profit rose 65 percent. VCA Antech Inc. said that it moved to profit in its fourth quarter as revenue from its veterinary clinics and laboratories grew.

Former Star-News Building Turning the Page

REAL ESTATE: Beaux arts property in Pasadena bought for $16.5 million.

The historic beaux arts building that once housed the Pasadena Star-News was sold last week in a bankruptcy auction for more than $16.5 million.

Santa Ana Firm Acquires Agoura Hills' Interthink

Interthink Inc., an Agoura Hills mortgage services company, has been acquired for $155 million by First American Financial Corp., a provider of real estate transaction services based in Santa Ana.

Earnings Roundup: CBRE, Macerich, PennyMac

CBRE Group Inc. and Macerich Co. reported adjusted fourth quarter results that beat Wall Street forecasts, but PennyMac Financial Services came in below expectations. PennyMac Mortgage Investment Trust also reported quarterly results.

Thomas Properties Veterans Form New Firm

Three former senior executives at recently acquired Thomas Properties Group Inc. have formed Coretrust Capital Partners, an investment management firm with dual headquarters in Los Angeles and Philadelphia.

Kilroy Earnings Beat Analysts’ Expectations

Kilroy Realty Corp. yesterday reported earnings that rose in concert with the overall improvement to the commercial real estate market.

Aecom Reports Strong First Quarter Earnings

Downtown L.A. engineering and technical services firm Aecom Technology Corp. Tuesday reported better-than-expected earnings for its first fiscal quarter, ended Dec. 31.

Rams Confirm Inglewood Purchase

The St. Louis Rams confirmed Friday that team owner Stan Kroenke bought a 60-acre vacant lot from Wal-Mart Stores Inc. in Inglewood, as the Business Journal reported on Thursday.

L.A.'s NFL Hopes Turn To Inglewood

Wal-Mart Stores Inc. this month sold a vacant 60-acre parcel in Inglewood, renewing speculation that the site could become a National Football League stadium.