Los Angeles

News

FCP Continues Disposition of St. Charles Properties

John Jordan | September 18, 2018

Preservation Partners added the 100% leased Headen House (136 units) and Huntington (204 units) Section 8 communities in St. Charles, MD to its portfolio.

Today, Office Needs a Disruptive Model

Kelsi Maree Borland | September 18, 2018

“It isn’t enough to have a good job anymore; people want a great life,” said John Kilroy at Allen Matkins annual View From the Top conference, where he talked about how his firm is disrupting the office market.

Trion Expands Value-Add Reach With Second Fund

Kelsi Maree Borland | September 17, 2018

The firm launches a new value-add multifamily fund with a $150 million buying capacity, but will expand into new West Coast markets and larger assets.

Commentary

Rent Control, a California Nightmare

Joseph Ori | September 17, 2018

It is almost assured that Proposition 10 will pass, and the state of California will become a free for all with different, complex and in many jurisdictions, nonsensical rent control policies. The biggest risk for apartment owners and developers is risk of the unknown.

Why Can’t L.A. Build Density Like New York City?

Kelsi Maree Borland | September 17, 2018

The lack of a mass transit system has impeded from Los Angeles from creating the density that it needs to accommodate growth.

News

Ares Sells Stake in Colorado Resort in Development

John Jordan | September 14, 2018

The 1,500-room hotel and convention center located less than 10 minutes from the Denver International Airport and 25 minutes from downtown Denver is expected to begin operations in the fourth quarter of this year.

Can Glendale Absorb Its Growing Housing Supply?

Kelsi Maree Borland | September 14, 2018

The apartment supply in Glendale has grown 10% in the last few years, but even as the biggest project yet, Next on Lex, is delivering, absorption and rents remain strong.

Rent Growth Strongest in Aging Apartment Stock

Kelsi Maree Borland | September 13, 2018

Apartment rent growth has tempered in Los Angeles, but older apartment buildings are seeing strong rent growth as demand for luxury properties softens.

Buy Student Housing for Downside Protection

Kelsi Maree Borland | September 13, 2018

Student housing is generally more resilient than multifamily in a downturn, and the current tight supply of student housing in Los Angeles is putting upward pressure on rents.

AAGLA: Prop 10 Places Litigation Burden on Taxpayers

Kelsi Maree Borland | September 13, 2018

The Apartment Association of Greater L.A., which has been actively campaigning against Prop 10, says that a hidden detail will place litigation costs on taxpayers.

Why Apartment Rent Growth Is Still Heading Up

Kelsi Maree Borland | September 12, 2018

Apartment rents grew 3.1% nationally, but West Coast hubs are growing at an even faster pace.

A New Firm Promises Disruption in CRE Lending

Kelsi Maree Borland | September 12, 2018

A new mortgage company Max Benjamin Partners is promising to disrupt the “archaic” commercial lending market, bringing technology and a new model to the market.

Gen-Z Could Ramp Up Homeownership in Next Five Years

Kelsi Maree Borland | September 12, 2018

Gen-Z is much more open to homeownership than millennials, and the oldest segment of the generation plans to buy a home in the next five years.

Why Isn’t There More Industrial Redevelopment?

Kelsi Maree Borland | September 11, 2018

Redevelopment is more expensive than new construction, but it is essential to building more class-A industrial supply.

News

Macerich, Simon JV to Develop Major Outlet Center in LA Suburb

John Jordan | September 11, 2018

Macerich of Santa Monica, CA and Indianapolis-based Simon in a 50-50 joint venture will co-develop and jointly lease the new outlet center that is designed to open with 400,000 square feet, followed by an additional 166,000 square feet in its second phase.

Why Did the New SSTB Regs Omit Real Estate?

Kelsi Maree Borland | September 11, 2018

The new section 199A regulations for Specified Service Trade or Business did not qualify when a real estate rental property is a trade business.

How Can a Landlord Attract Major Corporate Users

Kelsi Maree Borland | September 11, 2018

Creative office isn’t going to attract a major corporate user. Instead, landlords need to understand the unique real estate strategy of corporate users.

News

CBRE Global, Madison Partner on $1B Deal for Housing in Spain

John Jordan | September 10, 2018

The portfolio consists of 65 primarily mid-market apartment block buildings of which approximately 70% are located in and around Madrid.

To Sell or Not to Sell Industrial Assets as a Portfolio

Kelsi Maree Borland | September 07, 2018

You will likely get a better price per square foot if you sell industrial assets individually, but it can take longer than a portfolio sale.

Marcus & Millichap Enters Montreal Market with Brokerage Purchase

John Jordan | September 07, 2018

The Calabasas, CA-based commercial real estate investment firm reports the deal compliments its existing Canadian operations.

Research

Atlanta Named Nation’s Third Greenest City in CBRE Study

Steve Lubetkin | September 07, 2018

“Green building certifications have become an important proxy for sustainable practices, recognized by all stakeholders,” says David Pogue, CBRE’s senior vice president, global client care.

L.A. Is a Leader in Green Building Certificates

Kelsi Maree Borland | September 07, 2018

Los Angeles ranks second in the nation for buildings with green certifications and fourth for the square footage with green certifications.

Hollywood Office Development Set for a Boom

Kelsi Maree Borland | September 06, 2018

Hollywood spec office development activity is hitting a stride, thanks to growth and migration from tech firms.

Considering Developing Near A Transit Project?

Betsy Kim | September 06, 2018

Investing near proposed infrastructure like New York City's BQX always poses a gamble, says real estate attorney Andy Schmerzler.

Starpoint Turns Apartment Gains Into Major Office Buy

Kelsi Maree Borland | September 06, 2018

Starpoint Properties sells $122 million in multifamily assets last week—boasting major gains—and traded into a $193 million office asset in Beverly Hills this week.

Downtown Lifts Up L.A. Hotel Market to Top Tier

Kelsi Maree Borland | September 05, 2018

Los Angeles is one of the top hotel markets in the country, largely thanks to the resurgence of Downtown Los Angeles.

Q&A

How One Alternative Lender Is Differentiating for Success

Natalie Dolce | September 05, 2018

BridgeCore Capital Inc. revealed today that it has commenced operations and GlobeSt.com exclusively caught up with the firm’s founder and principal, Elliot Shirwo on how he is finding ways to succeed by stepping out of the box.

LB Port Achieves Major Emissions Reduction Goals

Kelsi Maree Borland | September 05, 2018

Port emissions are falling even as cargo volumes are rising steadily, and the port is outpacing its 2023 clean air goals.

Why Multifamily and Retail Are Carrying DTLA

Kelsi Maree Borland | September 05, 2018

Multifamily and retail lead activity has rebounded in Downtown Los Angeles, and they are fueling the next phase of the renaissance.

News

Pacific Castle Affiliate Sells Utah Shopping Center

John Jordan | September 04, 2018

The property was part of a multi-property acquisition strategy, across multiple states, to fulfill the buyer’s 1031 exchange requirement, Hanley Investment Group Real Estate Advisors states.

News

CBRE Group Acquires Longstanding New England JV

John Jordan | September 04, 2018

CBRE/New England, combined with the Purpura-led team, manages more than 100 million square feet of commercial property and corporate facilities and has more than 1,200 employees.

Industrial Market Leads SoCal for Lowest Cap Rates

Kelsi Maree Borland | September 04, 2018

At 4% on average, industrial assets have the lowest cap rates in Southern California, followed by multifamily.

Does Technology Bring In More Renters?

Kelsi Maree Borland | August 31, 2018

Technology can help lead new tenants to an available unit and leaves a strong impression on potential renters.

L.A. Home Prices Stumble at Midyear

Kelsi Maree Borland | August 31, 2018

Los Angeles home sales were down 6% in July year-over-year, rounding out three months of steady decline in home values.

Alternative Lenders Only Growing in Popularity

Kelsi Maree Borland | August 31, 2018

A need for flexibility and speed has given rise to alternative lending sources, and new lenders are entering the market.

Which L.A. Submarket Is Seeing the Most Industrial Development?

Kelsi Maree Borland | August 30, 2018

San Gabriel Valley has seen the bulk of industrial new construction in the last decade, with 36% of total development.

IRS Qualifies New Bonus Depreciation Rules

Kelsi Maree Borland | August 30, 2018

This month the IRS proposed new regulations on what will qualify for first-year depreciation deductions under the new tax plan.

News

Sterling Organization Closes First New Fund Investment in CA

John Jordan | August 29, 2018

North Ranch Gateway was originally built in 1989 and recently underwent significant renovations, according to the Sterling Organization. The property was purchased on behalf of Sterling Organization’s recently launched institutional fund, Sterling Value Add Partners III, LP.

Can One Company Handle All Development Needs?

Kelsi Maree Borland | August 29, 2018

More and more, developers are turning to seasoned management companies to oversee the development process.

Rental Assistance Mission to Prevent Homelessness Expands

Kelsi Maree Borland | August 28, 2018

The Gelt Foundation rebrands as Resident Relief Foundation in response to the rising need for homeless support in Los Angeles.

Elon Musk’s Big Transit Plans Are Precedent-Setting

Kelsi Maree Borland | August 28, 2018

The Boring Co. wants to build a privately funded high-speed tunnel from East L.A. to Dodger Stadium, and, if successful, could be a blueprint for future private-public projects.

Why DTLA’s Office Vacancy Is Climbing

Kelsi Maree Borland | August 28, 2018

The downtown market is attracting big companies, but in the second quarter, office vacancy climbed 3%.

Competition Heats Up in the Mobile Home Market

Kelsi Maree Borland | August 27, 2018

As demand rises for more affordable housing options, investors are increasing exposure to mobile home parks.

Parking Is More Than Regulation, It’s Cultural

Kelsi Maree Borland | August 24, 2018

Developers are pushing for updates to the city’s parking regulations, but even if parking requirements are reduced, developers still have to lease the units in a city still largely dependent on cars.

News

Korda Group Acquires San Gabriel Valley Multifamily

John Jordan | August 24, 2018

The asset sold for $272,569 per unit.

News

New WNC Fund to Develop 1,950 Affordable Housing Units

John Jordan | August 24, 2018

The properties that will be funded by WNC Corp. 45 are located in: Alaska, Arkansas, Arizona, California, Iowa, Maine, Minnesota, Mississippi, New Jersey, New Mexico, Tennessee and Texas.

News

Tishman Speyer Lands Record Price for Pier 4 Office Building

John Jordan | August 24, 2018

New York City-based Tishman Speyer reports the $1,208-per-square-foot sale price for the Seaport District office tower at 200 Pier 4 Blvd. calculates out to the highest ever achieved for a Boston office property.

Foothill Gold Line Project Runs Ahead of Schedule

Kelsi Maree Borland | August 23, 2018

The Measure M and SB1 funded infrastructure project is running ahead of schedule and under budget.

News

Lendlease, Australian Fund Form $2B Initiative For US Multifamily

Erika Morphy | August 23, 2018

The companies value the US multifamily sector at more than $3 trillion and say that it has delivered higher and less volatile returns than most major US real estate sectors during the past 25 years.

News

Exclusive: Kennedy Wilson Adds to Utah Portfolio With $51M Buy

John Jordan | August 23, 2018

Kennedy Wilson’s latest purchase is Rosegate Draper in Draper. The deal calculates out to $185,379 per unit.