Estates

WASHINGTON - Older Americans can be confused by dozens of special designations for financial advisors for seniors, and government officials should set strict standards for training and conduct to prevent abuses, according to a new federal report. The ranks of the elderly are projected grow to 70 million by 2030 from 50 million now, and their savings can be an attractive target for people peddling financial products, the Consumer Financial Protection Bureau said. The bureau, at the request of Congress, studied how advisors to seniors can promote, or designate, themselves.

In a week when newsmen were making news, how appropriate that three Los Angeles newsmen are making real estate news. Remember when anchor Kent Shocknek got under his desk during a live report as aftershocks from the 1987 Whittier Narrows quake rocked his newsroom? Although not as earthshaking, a sale is pending on the longtime anchor's Pasadena house. The single-level courtyard-style house, built in 1952, is listed at $2.375 million. Set on three-quarters of an acre, the home features floor-to-ceiling windows, three bedrooms, four bathrooms and 3,375 square feet of living space.

You know Los Angeles has become a tough real estate market when it's hard for even Jon Gray to find a bargain. “It's become harder, because the pricing has moved up,” said Gray, the global head of real estate for private equity firm Blackstone Group. “L.A. is probably the toughest market.” As chief of one of the world's largest real estate investment funds, with $60 billion in assets, Gray is the walking embodiment of the term “smart money.” To put it succinctly, he is “the man with the bank account,” which was how Mayor Antonio Villaraigosa introduced him Thursday at a chummy ceremony in downtown's Arts District.

Leading man Matt Damon has put his mansion in Miami Beach on the market at $20 million. Set on more than an acre with a two-bedroom guesthouse, a swimming pool and a pool house, the 12,705-square-foot house features a courtyard entrance, a theater, a wine cellar, a rooftop terrace, seven bedrooms and 10 bathrooms. The Mediterranean-style estate, called Maravilla, looks out on Biscayne Bay. There is a dock and 170 feet of water frontage. Damon, 42, will star in the upcoming films “Elysium” and “The Monuments Men” and the TV movie “Behind the Candelabra.” He co-wrote "Good Will Hunting" and shared an Oscar for the screenplay in 1998.

In a multimillion-dollar twist on celebrity musical chairs, singer-actress Jessica Simpson has purchased Sharon and Ozzy Osbourne's estate in Hidden Hills for $11.5 million, public records show. The Cape Cod-inspired mansion, built in 2001, sits on a 2.5-acre promontory off a cul-de-sac in the gated community. It features a paneled study with fireplace, a home theater and studio area, six en suite bedrooms and a guest apartment with kitchenette. The family room of the 11,000-square-foot home has sliding barn doors and a reclaimed brick fireplace.

Nestled on the windy plains at the foot of the San Bernardino Mountains, once austere stretches of agricultural land have morphed into the country's most desirable industrial real estate market, and it is growing faster than any other industrial region in the U.S. Among the many merchants running large-scale operations now are such household names as Amazon.com Inc., Kohl's Corp., Skechers USA Inc., Mattel Inc. and Stater Bros. Markets. They come for vast warehouses - some are bigger than 30 football fields under one roof - where they can store, process and ship merchandise such as clothes, books and toys to ever more online shoppers and handle the rising flood of goods passing through the ports of Los Angeles and Long Beach.

Detroit Pistons owner Tom Gores and his wife, Holly, have sold their house in gated Mulholland Estates on the Westside for $10 million. The Mediterranean, custom built in 1992, features a family room with exposed beams, a paneled library, two bars, five fireplaces, a screening room, six bedrooms, nine bathrooms and 11,107 square feet of living space. A saltwater swimming pool with spa, a bathhouse and a gazebo also sit on the more than three-quarters of an acre of grounds. Billionaire Gores and his Beverly Hills-based private equity firm, Platinum Equity, own Palace Sports & Entertainment, which includes the Pistons.

Ed Weinberger, one of the creators of "The Cosby Show," and his wife, television actress Carlene Watkins, have listed their  home in a gated Los Angeles community for $12.5 million. The 11,600-square-foot Georgian-style mansion and one-bedroom guesthouse sit on a 5-acre promontory with canyon, mountain and San Fernando Valley views. Features include a two-story entry with a sweeping staircase, herringbone-patterned wood floors, a media room with a bar, two offices, a library, a wine cellar and a gym/dance studio.

Casey Kasem, who gained a national radio audience after "American Top 40" launched in 1970, and his wife, Jean, are listing their Westside estate for sale at $42 million. With 12,000 square feet of living space, seven bedrooms and nine bathrooms, the home has been the site of intimate interviews and sleepovers for as many as 20 youngsters a night. The yard has served as the site of elaborate celebrity-studded gatherings and paintball battles. The syndicated radio host bought the property for Jean Kasem in 1989 as a gift.

With corporate headquarters overlooking the hot office market in West Los Angeles, CBRE Group Inc. - the world's largest real estate services firm - finished 2012 with a record $6.5 billion in revenue, and its new boss is optimistic about the year ahead. "We think the economy is going to grow a couple of points this year, and we are expecting our business to grow considerably," said Robert Sulentic, 56, who took over as chief executive in December from Brett White, who retired. Earlier, Sulentic was chief executive of Texas real estate company Trammell Crow Co., which was acquired by CBRE in 2006.