Los Angeles Business Journal

LA REAL ESTATE

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

Law Firm Gets Creative – Space

Downtown L.A.’s PacMutual, which has been repositioned to appeal to creative office tenants, last month signed its second-largest lease with an unexpected tenant: a new law firm.

Pacshore, Canyon Make Creative Office Grab

Pacshore Partners, an L.A. real estate investment firm run by Philip Orosco, and Canyon Catalyst Fund, a joint venture between L.A.’s Canyon Capital Realty Advisors and California Public Employees’ Retirement System, have partnered to acquire creative office buildings in Malibu and Playa Vista in two separate transactions totaling $36 million.

CBRE Buys Johnson Controls Unit for $1.48 Billion

Downtown L.A. commercial real estate giant CBRE Group Inc. has purchased the Global Workplace Solutions unit of Milwaukee’s Johnson Controls Inc. for $1.475 billion.

Westin Pasadena Hotel Sells High

In what Bruce Baltin of hospitality consulting firm PFK Consulting USA said was one of the biggest hotel deals in Los Angeles County this year, Carey Watermark Investors Inc., a New York real estate investment trust, bought the Westin Pasadena for $143 million, or about $408,000 a room, last week.

Briefs: Kite Pharma Sinks on Q4 Loss, Arts District Site Sells for $130 Million

Kite Pharma’s Shares Fall After Q4 Loss Despite detailing a year full of landmark deals in its 2014 earnings report, Santa Monica biotech firm Kite Pharma Inc.’s shares fell 7.26 percent to $57.75 on Thursday.

Sportsmen's Lodge Project is Approved

After a contentious, five-hour Wednesday evening hearing, developer Richard Weintraub won the right to demolish the historic Sportsmen’s Lodge event center in Studio City and replace it with a 97,800-square-foot, mixed-use development.

Security Software Firm Loads Up on Marina Office Space

TeleSign, a maker of identity verification software, is more than doubling its space in Marina del Rey by moving into a bigger headquarters.

Graybar Buys in Packed Pomona

A newly constructed logistics facility in Pomona sold last month for $22.9 million. St. Louis manufacturer Graybar Electric Co. Inc., one of the largest U.S. distributors of electronic parts, bought the property at 2205 Mount Vernon Ave. from Gardena’s Overton Moore Properties.

Trust Invests in Low-Income Housing

A private New York real estate investment trust that invests exclusively in affordable housing announced on Tuesday that it is putting $20 million into California low-income housing, including issuing a mortgage for a Van Nuys senior housing complex.

Tommy Store Sets WeHo Record

The 11,000-square-foot Tommy Hilfiger store at the intersection of Robertson and Beverly boulevards in West Hollywood traded last month for a record price.

Mani Bros. Buy In Playa

A pair of three-story office buildings in Playa Vista sold this month in an off-market deal for $48.5 million.

KB Home Rises on Earnings

KB Homes saw its stock rise 8.4 percent Friday after reporting first quarter results that beat analysts’ expectations and an increase in both orders and delivered homes.

Santa Monica Multifamily Market Heats Up

The Santa Monica multifamily market remains hot.

American Realty Buys Santa Fe Springs Distribution Center

American Realty Advisors, a Glendale company with more than $6 billion in assets under management, has purchased a 175,000-square-foot warehouse in Santa Fe Springs for $21.6 million.

Briefs: Wilshire Associates Opens China Office, Aecom CEO Named Chairman, New Boss at Marlborough School

Wilshire Associates Opens Office in China Santa Monica investment firm Wilshire Associates has opened an office in Suzhou, China.