June 24, 2012 |
A long-vacant site in the heart of downtown Los Angeles has been sold to investors who are expected to start work within two months on one of the largest new apartment buildings to be built in the region since the economic downturn. The seller was Beverly Hills developer Sonny Astani, who secured city approval to build a 700-unit, steel and glass apartment building with a rooftop pool on nearly a full city block. It would include enough ground floor retail space for a grocery store and almost an acre of open space.
May 12, 2012 |
Among all the special places inside his sprawling 10,700-square-foot mountaintop home, Daniel Coletti savors the vibe inside the living room most. It's a luxury dreamscape distinguished by mammoth walls of glass and Idaho-hewn stone. At night, he gazes out past the blue waters of an indoor-outdoor infinity pool and onto a vast citywide vista capped by the shimmering lights of the Strip. "It's like looking at a fire," his wife, Natalie, said. "You can't turn your eyes from it. " The property has another unique feature: Offered at $13.9 million, it's the most expensive residential listing in Las Vegas.
April 25, 2012 |
CBRE Group Inc., the world's largest commercial real estate brokerage, turned a profit in the first quarter as U.S. property sales took off. The Los Angeles firm said Tuesday that income from arranging transactions to buy or rent space in offices, warehouses and other commercial properties helped revenue increase 14% from a year earlier to $1.35 billion. Growth was driven primarily by activity in the United States as leasing transactions fell off in Europe and sales slid in Asian markets.
February 8, 2012 |
Real estate services provider CBRE Group Inc. reported a robust fourth quarter as property sales increased and the company expanded its asset management business. The Los Angeles firm formerly known as CB Richard Ellis Group Inc. earns commissions from arranging transactions to buy or rent space in offices, warehouses and other commercial properties. Property sales revenue rose 10% compared with the fourth quarter of 2010, powered by a growing number of deals in the United States and Asia, while sales in Europe remained flat, the company said Tuesday.
November 1, 2011 |
MPG Office Trust, the largest office landlord in downtown Los Angeles, reported a third-quarter profit propelled by property sales and debt forgiveness. The Los Angeles real estate investment trust, which also owns several buildings in Orange and San Diego counties, finished the quarter that ended Sept. 30 with earnings of $25.6 million, or 51 cents a share. In the same period a year earlier, MPG lost $17.9 million, or 36 cents a share. Revenue was $84 million, down 3%. "Fundamentals in downtown L.A. continue to be challenging and MPG's ho-hum operating results reflect those head winds," said analyst Michael Knott of Green Street Advisors.
October 28, 2011 |
CBRE Group Inc., the world's largest commercial real estate brokerage, reported a strong third quarter propelled by robust growth in property sales and leasing in the U.S. and abroad. The Los Angeles firm, formerly CB Richard Ellis Group Inc., said Thursday that income from arranging transactions to buy or rent space in offices, warehouses and other commercial properties grew at a double-digit pace from the same period last year. Sales were particularly strong in the Americas; Asia and Europe recorded big increases in leases.
July 24, 2011 |
When it comes to real estate, all is not always as it seems. Many buyers — and some sellers — labor under misconceptions that could sink their housing aspirations. Take the notion that you will hunt for a house until you find the "perfect" one. Sorry. There is no such thing as the perfect house. Even gently used houses come with blemishes. And new homes rarely, if ever, have absolutely everything you want at the price you want to spend. Another popular myth is that the longer a house is on the market, the more willing the seller will be to negotiate.
July 15, 2011 |
In one of the largest property sales in Los Angeles County since the real estate boom of the mid-2000s, a new Warner Center apartment complex has changed hands for nearly $133 million. In one of the largest property sales in Los Angeles County since the real estate boom of the mid-2000s, a new Warner Center apartment complex has changed hands for nearly $133 million. Wesco, a joint venture sponsored by Essex Property Trust, bought the 438-unit Millennium Warner Center from developer Warner Center Apartments, real estate brokerage Institutional Property Advisors said.
February 11, 2011 |
There's an e-mail going around warning that anyone who sells their home after 2012 "will pay a 3.8% sales tax on it" to help fund President Obama's healthcare reform law. "Oh, you weren't aware this was in the Obamacare bill?" says the e-mail, which is being forwarded by many people but the origins of which remain a mystery. "Guess what, you aren't alone. There are more than a few members of Congress that aren't aware of it either. " The e-mail was called to my attention by Chino resident Ken Burton, who wanted to know whether it was legit.
CALIFORNIA | LOCAL
February 10, 2011 |
It was a big, early test for Gov. Jerry Brown. And he passed with an "A. " He opted for prudence rather than expedience. Brown essentially walked out of escrow Wednesday on arguably the worst real estate deal the state of California had ever conjured up. It was a transaction authorized by a wimpy Legislature ? trying to avoid deeper spending cuts and higher taxes ? and negotiated by the Schwarzenegger administration. Former Gov. Arnold Schwarzenegger ? a play now, pay later type of guy ?