Los Angeles Business Journal

Colony to Pay $1.6 Billion for Industrial Portfolio

Santa Monica real estate investment trust Colony Financial Inc. announced Wednesday that it had agreed to acquire Cobalt Capital Partners, a real estate investment trust in Irving, Texas, for about $1.6 billion.

Oaktree to Expand Downtown L.A. Headquarters

Downtown L.A. asset management firm Oaktree Capital Management has signed a lease to extend and expand its headquarters in the area.

Jeans Maker Buttons Up Manhattan Beach HQ

LEASE: True Religion to exit Vernon, signs deal valued at $45 million.

Jeans and lifestyle company True Religion Apparel Inc. will move its corporate headquarters from a known hub for apparel manufacturing in Los Angeles to the beach – Manhattan Beach.

Travel Has Vintage Appeal

When Grant Kirkpatrick, partner at architecture firm Kirkpatrick Architects in Marina del Rey, decided to make his four-acre plot of land in Paso Robles into a vineyard seven years ago, his wife, Shaya, had an idea.

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Miracle Mile Property Faces Massive Departure

REAL ESTATE: Landlord in talks with big names to help replace media tenants.

Owner of Wilshire Courtyard may not have to go to great lengths to fill coming vacancies at the Miracle Mile property.

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Koreatown Apartments Flipped, To Be ‘Repositioned’

Apartment buildings in Koreatown continue to be a popular buy for investors. Murano Apartments, a 46-unit multifamily property at 342-50 S. Catalina St., was sold recently to Beverly Hills real estate company SM Management for $11.6 million, or about $252,000 a unit. The seller, San Mateo investment group TDA Inc., had purchased the building for $5.1 million in 2002, according to CoStar. The property was entirely occupied at the time of sale.

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Baby Products Firm Leases, Expands Downtown

Premium infant products company Ergo Baby Inc. will move its downtown L.A. headquarters early next year, though only baby steps away.

Paley Center Site Draws Top Dollar

The Paley Center for Media property sold last week for the highest off-Rodeo Drive price paid for a Beverly Hills retail property since 2007.

Purchaser Sold on Building’s Retail Potential

ACQUiSITION: Buyer pays $47.3 million for media museum in Beverly Hills.

The Paley Center for Media property sold last week for the highest off-Rodeo Drive price paid for a Beverly Hills retail property since 2007.

Born Again

Restorer of historic properties Ray Adamyk also works to help people in need start over.

Ray Adamyk helps remake history as renovator of iconic properties.

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Mayor to Put Up For-Sale Sign During Asia Trip

DEVELOPMENT: City’s brochure features properties of Ernst & Young clients.

Mayor Eric Garcetti’s marketing efforts on his Asia trip will include hawking a list of real estate development sites.

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Popular Brentwood Retail Site Trades for $25 Million

A 12,000-square-foot retail building along a busy stretch of San Vicente in Brentwood sold last month for about $25 million, or more than $2,084 a square foot.

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Brentwood Apartment Complex Fetches Top Dollar

A 68-unit apartment complex in Brentwood has sold for $25.5 million, the highest price that Westside submarket has seen in 15 years.

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Douglas Emmett Picks Up Carthay Office Property

Carthay Campus, a two-building Class A office campus in Carthay Circle, sold for $75.3 million, or about $351 a square foot.

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Westwood Match for Dating Site

REAL ESTATE: EHarmony to split up with Santa Monica.

Westwood’s lower rents woo dating site operator eHarmony away from Santa Monica.

Buyer Quickly Wraps Up Office Campus Deal

ACQUISITION: Property sells for $75.3 million after only seven days on market.

Carthay Campus, a two-building Class A office campus in Carthay Square, sold last month for $75.3 million, or about $351 a square foot.

Hudson Pacific Snaps Up Playa Vista Building

A vacant ’80s-era office building in Playa Vista sold last week for $38 million. West L.A. real estate investment trust Hudson Pacific Properties Inc. paid nearly $373 a square foot for the 102,000-square-foot Marina Corporate Center at 12655 W. Jefferson Blvd. in a sale that closed Oct. 20.

Marketing Firm Trailer Park Settles Down in Hollywood

Entertainment marketing agency Trailer Park, which specializes in creating trailers for motion pictures, including for recent films such as “The Judge,” “Guardians of the Galaxy” and “Godzilla,” has expanded its commitment to Hollywood.

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American Realty Advisors Acquires Millennium Del Rey

Glendale real estate investment management company American Realty Advisors has acquired the Millennium Del Rey, a 196-unit apartment community in Playa del Rey, in a deal valued at nearly $100 million.

Stinking Rose Site Sold, May Bloom Anew

The site housing Beverly Hills’ famed Stinking Rose restaurant might bloom into something bigger.

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Brokerages Come Together in Consolidation Trend

REAL ESTATE: No money to change hands in merger of Travers Realty, Cresa.

Merging brokerages Travers Realty and Cresa Partners link up with sector’s consolidation trend.

Restaurant Site Could Serve Up Big Development

ACQUISITION: Home to Stinking Rose was pitched as ripe for large projects.

The site housing Beverly Hills’ famed Stinking Rose restaurant might bloom into something bigger.

El Segundo Means Business in Pursuing Diversity

By BETHANY FIRNHABER Staff Reporter For a small city, El Segundo is home to an impressive roster of big businesses. Aside from Chevron Corp.’s operation and all the major aerospace and defense compan

City’s marketing push homes in on smaller, more diverse company base.

Getting Second Look

Former defense, aerospace hub El Segundo launches projects to land tenants priced out of Silicon Beach.

One-time aerospace and defense hub El Segundo looks to take wing by connecting with tech firms

Lessons From LAUSD

For one day last month, Christopher Thornberg was principal at one of Los Angeles Unified School District’s most infamous schools.

Big Law, Big Lease

While the theme struck in downtown Los Angeles has been that most professional firms are contracting and putting more space back on the market, one firm is bucking the trend.

Florida Firm Checks in to Glendale Hospital

A small medical office building in Glendale sold earlier this month for a big price. CNL Healthcare Properties, a real estate investment trust out of Orlando, Fla., purchased the Lee Hughes Medical Building at 1500 E. Chevy Chase Drive for $29.9 million, nearly $443 a square foot.

Large Inglewood Residential Redevelopment Moving Ahead

When Inglewood announced last week that it had chosen five developers to compete for a bid to build a transit-oriented project near the site of a future Metro light-rail stop, it put a big emphasis on housing.

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Inglewood Moves on Project by Light-Rail Stop

Real Estate: Housing major factor in winnowing field of proposals.

When Inglewood announced last week that it had chosen five developers to compete for a bid to build a transit-oriented project near the site of a future Metro light-rail stop, it put a big emphasis on housing.

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Mover of Space Shuttle Settles in for Long Haul

The machinery-moving company that is perhaps best known for maneuvering the Space Shuttle Endeavour through the streets of Los Angeles two years ago has found a new home.

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Chinese Investors Pay Premium for Pasadena Office

A private investor group from China last week paid a premium to buy a 90-year-old Pasadena office property in the city’s historic Old Pasadena district.

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Canadian Developer Flips Venice Apts for $18 Million

The recently completed 19-unit multifamily property at 13365 W. Washington Blvd. in Venice, known as Landmark 19, was sold to a pair of undisclosed investors out of Beverly Hills. The partners bought the 30,500-square-foot building from Canadian developer Bastion Development Corp., which had marketed the property for just shy of $18 million, or nearly $950,000 a unit.

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Investor Locks Up Former Pasadena Bank Building

Real Estate: Buyer pays $36.4 million for offices near downtown retail center.

A private investor group from China last week paid a premium to buy a 90-year-old Pasadena office property in the city’s historic Old Pasadena district.

Owner of Apartments Moves Into Office Property

ACQUISITION: SM pays $76.5 million for home to media, entertainment firms.

Beverly Hills real estate company SM Management has purchased the Class A office tower at 6100 Wilshire Blvd. for $76.5 million, about $358 a square foot.

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Deal Price for Tower Takes Elevator to Top Floor

REAL ESTATE: $175 million sets new total-dollar high for downtown market this year.

Downtown tower hits high mark this year in $175 million sale.

Deal Price for Tower Takes Elevator to Top Floor

In one of the priciest downtown L.A. office deals since the recession, real estate investment management company Cornerstone Real Estate Advisers has negotiated to buy the tower at 801 S. Figueroa St. for about $175 million, according to sources familiar with the transaction.

Santa Monica Apartment Building Trades at Peak Price

A 60-unit apartment complex just five blocks from the beach in Santa Monica sold recently for $26.5 million, or nearly $442,000 a unit.

InterContinental Will Operate New Wilshire Grand Hotel

British hospitality company InterContinental Hotels Group announced Tuesday that it would operate the hotel atop the $1.1 billion Wilshire Grand project in downtown Los Angeles.

Zealot Networks Leases Former Ray Bradbury Home

Danny Zappin, co-founder and former chief executive of Maker Studios Inc., has cinched coveted creative space in Venice for a fledgling digital media studio.

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Chinese Investor Makes Move on Burbank Media

ACQUISITION: Property aimed at entertainment tenants sells for $22 million.

Burbank Civic Plaza, a Class A office building in the city’s civic center, has sold to a Chinese investment group for $22 million, or about $287 a square foot.

Healthy Snack Maker Sweet on Southern California

FOOD: Popchips to ditch San Francisco headquarters for Playa Vista building.

San Francisco healthy snack maker Popchips has new Playa Vista headquarters in the bag.

Law of Jungle in Action

Mark Robinson knew when he embarked on an African safari this summer with his wife, Pamela, that he’d get to see all kinds of wildlife up close. But the executive director of Cushman & Wakefield’s Century City real estate brokerage never imagined just how close.

Sunset Complex Sells for Big Bucks

A Sunset Boulevard apartment building with 183 units has sold for $92.7 million, about $507,000 a unit.

Pershing Square Overhaul Gets $2 Million Boost

Efforts to overhaul Pershing Square, a five-acre urban park spanning a full city block in the heart of downtown Los Angeles, got a major boost Wednesday when a San Francisco real estate developer and the city together pledged $2 million to its revitalization.

Chinese Investment Group Sets Flag in Burbank

Burbank Civic Plaza, a Class A office building in the city’s civic center, has sold to a Chinese investment group for $22 million, or about $287 a square foot.

Popchips to Move Headquarters to Los Angeles

San Francisco snack food manufacturer Popchips Inc. will move its headquarters to Playa Vista next month.

Downtown Investor Caught in Laundering Sweep

A downtown L.A. investor who recently purchased a prominent South Park development site was among those arrested last week when federal agents raided the Fashion District in connection with an alleged money-laundering scheme for international drug cartels.

USC Embarks on Major Expansion

With the demolition of its outdated University Village complete, USC was expected to formally break ground Monday on the $650 million first phase of its $1.1 billion two-phase master-planned Village at USC.

Taking Stand for History

Affordable housing project preserves Fatburger’s first spot.

Affordable housing project made preserving the first Fatburger stand a main ingredient.

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Carwash Buyer Arrested for Money-Laundering

LEGAL: Investor among group accused in alleged drug cartel scheme.

A downtown L.A. investor who recently purchased a prominent South Park development site was among those arrested last week when federal agents raided the Fashion District in connection with an alleged money-laundering scheme for international drug cartels.

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