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January 8, 2009 | Roger Vincent
Harold "Hal" A. Ellis Jr., a founder of real estate services firm Grubb & Ellis Co. and one of the best known figures in U.S. real estate, died Monday of metastatic melanoma at his home in Piedmont, Calif. He was 77. Ellis built a small Oakland brokerage into a powerhouse whose circular yellow and black signs dot thousands of stores, offices, factories and other commercial properties for sale or lease across the country.
November 17, 2012 | By David Zahniser, Los Angeles Times
One of the largest public employee unions at Los Angeles City Hall handed a potentially costly setback to a plan for a new half-cent sales tax, announcing Friday that its political advisory board opposes the measure. Service Employees International Union Local 721's political education committee recommended unanimously Thursday night that the group take a position against the tax, which is backed by City Council President Herb Wesson for the March 5 ballot. The council's final vote on that tax is slated for next week.
In a sign of renewed interest in inner city investment, an estimated 500 people attended a recent one-day workshop on the opportunities and pitfalls of real estate development in urban Los Angeles. The larger-than-expected turnout at the Urban Marketplace, which was organized by the Los Angeles chapter of the Urban Land Institute, reflected a shift in the real estate industry's perception of inner city neighborhoods, according to several participants.
July 8, 2010 | By Roger Vincent, Los Angeles Times
Suspense over whether the Gas Co. Tower in downtown Los Angeles will remain the headquarters of Southern California Gas Co. is over: The big utility is staying put in its signature tower for the next 15 years. Real estate industry analysts had been watching to see whether the gas company would bail out on troubled landlord MPG Office Trust Inc., formerly Maguire Properties Inc., and move its offices elsewhere. Southern California Gas said Wednesday that it would keep its more than 1,300 employees in 350,000 square feet in the building at 555 W. Fifth St., where it has been the anchor tenant since the tower was completed in 1991.
Woodcrest Development Inc., one of Southern California's largest home builders in recent years, is shutting down almost all of its operations at the end of the month. The company, which launched a restructuring 13 months ago, is the latest--and largest--victim of the real estate slump that has devastated an industry that long has been a keystone of the area's economy.
April 30, 2007 | Annette Haddad, Times Staff Writer
MANY see trouble in falling home prices and rising foreclosures. Karen Krynen sees opportunity. So after dropping her two children off at preschool one day last month, Krynen headed for Los Angeles County Superior Court in Norwalk, where foreclosed houses were being auctioned on the steps outside. The ponytailed Krynen spotted a small crowd gathered against the building's towering, black-marble portico.
December 5, 2000
More than 30 senior executives in the real estate industry will share their predictions and analyses of the commercial real estate industry at the annual Real Estate Summit presented by the Los Angeles Chapter of the Building Owners and Managers Assn. today at the Regal Biltmore Hotel in Los Angeles. The event will begin with an 8 a.m. keynote session featuring founder John C. Cushman III of Cushman Realty Corp.
March 4, 1994 | Debora Vrana, Special to the Times
On the Block: More than 30 commercial investment properties--including one in Orange County--will be placed on the auction block in Los Angeles on Tuesday as part of the annual Commercial Property World real estate industry meeting. The local property is the Fountain Valley Business Center, a 44,846-square-foot office building at 18350 Mount Langley. The properties will be auctioned by Grubb & Ellis/Ross-Dove. commercial investment properties
April 3, 2008 | From Times Wire Services is launching a mortgage marketplace that allows consumers to anonymously receive custom loan quotes and rate their lenders. created a buzz in the real estate industry two years ago with its online home value estimates. The company said it hoped to add transparency and information to the mortgage application process, while making it easier and faster to get mortgage quotes.
April 30, 2010 | Alejandro Lazo
The expiring federal tax credit for home shoppers has put some froth back in the Southland's real estate market: People are ditching work to search for new digs, plundering savings for down payments and striking as fast as they can to sign contracts ahead of the Friday deadline. Buyers can get a tax break of up to $8,000 for first-time purchasers and $6,500 for some current homeowners if they reach agreements by April 30 and seal their deals by June 30. California lawmakers sweetened the package last month by passing a $10,000 credit that kicks in Saturday.
December 17, 2009 | By Alejandro Lazo
Home builders broke ground on new residences at a faster clip in November than in October, a positive sign for the housing market and the residential real estate industry. Housing starts rose 8.9% from the prior month to a seasonally adjusted annual rate of 574,000 units, the Commerce Department reported Wednesday. However, that figure represented a 12.4% decline from November 2008. The jump can be attributed in part to a shift in weather patterns, Patrick Newport, U.S. economist for Global Insight, said in a note to clients.
December 11, 2009 | By E. Scott Reckard
Interest rates on home mortgages edged higher this week, bouncing off record lows, but fixed-rate loans are still averaging well below 5% for those who are coming out of the recession with solid credit and can muster 20% down. Those lucky borrowers were getting 30-year fixed loans at an average of 4.81% for the week ending Thursday, according to Freddie Mac, the government-backed mortgage buyer and guarantor. On those loans, the borrowers were paying 0.7% of the loan amount in upfront lender fees including so-called points.
February 22, 2009 | Barbara Demick
"Empty," says Jack Rodman, an expert in distressed real estate, as he points from the window of his 40th-floor office toward a silver-skinned prism rising out of the Beijing skyline. "Beautiful building, but not a single tenant. "Completely empty. "Empty." So goes the refrain as his finger skips from building to building, each flashier than the next, and few of them more than barely occupied.
February 20, 2009 | Bloomberg News
Commercial real estate prices in the U.S. dropped by almost 15% in 2008, more than home prices, with fourth-quarter depreciation the greatest in the national apartment market, Moody's Investors Service said Thursday. The price decline eliminated the gains seen in 2006 and 2007 and returned values to 2005 levels, according to the Moody's/REAL commercial property price indexes. Prices fell 2.2% in December from November, said New York-based Moody's.
February 18, 2009 | Maura Reynolds and Janet Hook
President Obama will roll out his much-anticipated housing plan today in an effort to stem the tide of foreclosures that has triggered the worst recession in decades. The president will outline the plan during a speech in Phoenix, where home values have dropped 33% in the last year -- the steepest decline of any metropolitan area in the country. Across the nation, thousands of people continue to be forced from their homes every day.
June 19, 2001
Energy experts will discuss the impact of the California electrical power crisis on the commercial real estate industry and offer energy-saving suggestions at a forum titled "Keeping the Lights On and the Elevator Running" on June 28 at the Hyatt Regency Hotel in Irvine. Presented by the National Assn. of Industrial and Office Properties, the event will outline practical solutions for building owners. Registration begins at 5:30 p.m. and the program at 6:30 p.m. Cost is $57 for nonmembers.
March 28, 2000
Experts from leading technology companies and more than 40 real estate industry executives will examine the impact of the Internet and other technological advances on the real estate industry in an all-day conference April 17 at the Century Plaza Hotel in Los Angeles. Called "Technology + Real Estate," the event will be produced by Beverly Hills-based Real Estate Conference Group and will offer continuing education credits. Keynote speakers will include Bret P.
February 18, 2009 | Stuart Pfeifer
Was it the real estate downturn, or were people misled into a risky investment scheme? That's the question at the center of a lawsuit filed Tuesday that accuses Orange County real estate lender Dan J. Harkey of bilking dozens of investors out of more than $15 million. In an added twist, the investors claim that their money helped fund the election of Harkey's wife, state Assemblywoman Diane L. Harkey (R-Dana Point).
February 6, 2009 | Tom Petruno
The Federal Reserve is trying to push mortgage rates down. But the marketplace has other ideas. Home loan rates rose this week to the highest level since mid-December, according to mortgage giant Freddie Mac's latest national lender survey. The average rate on 30-year loans was 5.25%, up from 5.10% last week and the highest since 5.47% the week of Dec. 7. "I don't think this is going as planned," said Tom Atteberry, a money manager at First Pacific Advisors in Los Angeles.
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