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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 Realty Inc. on Thursday said it acquired Ontario Airport Business Park next to LA/Ontario International Airport for $8.55 million.
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.
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.
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.
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.
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 Realty Corp. yesterday reported earnings that rose in concert with the overall improvement to the commercial real estate market.
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.
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.
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.
CBRE Group Inc. of downtown Los Angeles announced Thursday it has acquired Valteq Gesellschaft, a German real estate consulting firm.
Ryland Group Inc. on Thursday announced strong fourth quarter results as the company rides the resurgent residential real estate market.
West L.A. real estate company Kilroy Realty Corp. announced today it had purchased a four-acre development site in Hollywood from the Academy of Motion Pictures Arts and Sciences for $46 million. The off-market deal closed in November.
Hudson Pacific Properties has raised $196 million in a public stock offering, the company announced after the close of the markets Tuesday.