October 21, 2010 |
A major real estate investment fund has agreed to cut its fees by $50 million over five years and not use controversial sales intermediaries to help close deals with the California Public Employees' Retirement System. CIM Group in Los Angeles entered into a "new strategic relationship" with CalPERS, Joseph Dear, the fund's chief investment officer, said Wednesday during a CalPERS board meeting in Long Beach. CIM has invested about $1 billion of CalPERS' capital in urban real estate projects, such as the Third Street Promenade in Santa Monica, the Sunset and Vine tower in Hollywood and a number of downtown Los Angeles residential loft conversions.
August 9, 2010 |
Celebrity photographer and music video director Matthew Rolston, who is helping a Los Angeles developer launch a hotel, hates beige. Or anything else that could be considered a safe choice in decorating. That's why Rolston is doing his best to make sure the tone of the new Redbury in Hollywood goes over the top and stays there, in no way resembling an outpost of a big hotel franchise. Guests can expect, for example, a 20-foot red velvet curtain over the grand staircase, paisley throw pillows and old-fashioned record players in every room with vinyl albums to play on them.
December 26, 2009 |
Real estate developer CIM Group Inc. has built a reputation as a big-city turnaround artist, transforming dreary business districts from downtown Los Angeles to Washington, D.C., with pricey loft apartments, trendy retailers and leafy pedestrian malls. Founded in 1994 by two Israeli immigrants and an investment banker who once worked with junk-bond king Michael Milken, CIM has made its mark on some of the more recognizable developments in Southern California, including Santa Monica's Third Street Promenade.
CALIFORNIA | LOCAL
March 30, 2003 |
Noted for its success in creating a pedestrian-friendly downtown from scratch, Brea has a new project in mind: a complex of apartments and stores also designed to echo an era when people could walk from home to jobs and shopping. There's just one problem. The project has raised the ire of residents in a real old-fashioned neighborhood. Known as the Union Oil Neighborhood, it is made up of nearly 70 homes spread over six square blocks only a few blocks south of the downtown district.
August 4, 2009
Los Angeles is being promised more than 800 jobs, millions of dollars in new Hollywood tourism and a 10-year run of the famed Cirque du Soleil, and all the city has to do is approve a $30-million loan -- in federal money -- to the lessors of the Kodak Theatre in Hollywood. What could be bad? A lot. The city should reject the loan, then take a serious look at how it invests in economic development projects.
May 2, 2012 |
In the end, the Oscars just couldn't leave Hollywood. After entertaining multiple offers to relocate the event, the Academy of Motion Picture Arts and Sciences announced Tuesday that it would keep the Academy Awards at the theater at Hollywood & Highland, negotiating a new 20-year deal with the CIM Group, which owns the complex. CIM also announced that Dolby Laboratories had signed on as the new name sponsor for the complex's 3,400-seat theater, taking over from Kodak, which had filed for bankruptcy.
October 28, 2012 |
A $100-million apartment and shopping complex is be ing planned for a formerly neglected stretch of Hollywood Boulevard that once held a legendary rehearsal studio where generations of actors learned to dance and wield swords. Commercial real estate developer Sonny Astani said he bought a 1.9-acre site on Hollywood near Western Avenue for almost $11 million. Among the structures on the property is a building that was part of Falcon Studios, a performing arts school founded in 1929.
CALIFORNIA | LOCAL
January 29, 2013 |
A couple of weeks ago, I wrote that Los Angeles has had its share of so-so mayors, and it'd be nice to have a great one for a change. Readers agreed, but said they weren't sure there was greatness in the current crop of candidates. And that was before Monday night's televised debate, which bolstered their point. For the most part, the five candidates came off as competent but not compelling. There was no presence, no magic, no star quality. "What an uninspiring bunch," wrote Peter Weinberger, a Pico-Robertson resident.
CALIFORNIA | LOCAL
August 4, 2009 |
Before the Cirque du Soleil performers pranced onto the outdoor stage in the sweltering heat Sunday, bushels of ice cubes were flung across the wooden floor to cool the surface for the hands and feet of dancers. A crowd of hundreds, hot but patiently watching at the Grove shopping center, cheered as if this safety step was part of the show. Onstage, Sebastien Coin, encased in a yellow striped unitard, balanced his body horizontally on one hand and languidly eyed his rapt audience.
November 12, 2009 |
With the fortune he has made using his connections with public pension funds, it's hardly a surprise that Alfred J.R. Villalobos owns a sprawling, 9,100-square-foot home overlooking the emerald-blue waters of Lake Tahoe. But the way in which Villalobos financed construction of the $2.7-million mansion is fueling new questions in an investigation by the California Public Employees' Retirement system into the activities of so-called placement agents such as Villalobos. Documents show that the Villalobos home was built with the help of a $1.1-million loan from a partnership set up by CIM Group, a Hollywood-based real estate development firm.