Advertisement
YOU ARE HERE: LAT HomeCollectionsReal Estate Investements
IN THE NEWS

Real Estate Investements

FEATURED ARTICLES
BUSINESS
September 10, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
Federal thrift liquidators here, beset by allegations of mismanagement and sexual harassment, said Thursday that they will exceed their goals for selling real estate, loans and other property that belonged to now-failed California savings and loans. The West Coast office of the Resolution Trust Corp. said that, in the first seven months this year, it has recovered $14.1 billion, or 98% of its annual target, from the sale of assets of failed California thrifts.
ARTICLES BY DATE
BUSINESS
July 21, 2013 | By Cale Ottens
Sinking money into real estate investment trusts is considered to be one of Wall Street's most complex investments. Owning shares of REITs gives investors an opportunity to get investment exposure to real estate, including apartments, shopping centers and office buildings. But they've gained a reputation of being risky and confusing - especially after the industry was pummeled during the last real estate crash. Even Lloyd McAdams, chief executive of Anworth Mortgage Asset Corp., makes no bones about saying his Santa Monica REIT does carry some risk.
Advertisement
BUSINESS
August 1, 2001 | From Bloomberg News
California is the most popular place for real estate investments by U.S. insurance companies, a study by the American Council of Life Insurers showed Tuesday. Of the $212 billion in commercial mortgages held by insurance companies, a major source of funding for real estate purchases, $35 billion were made on properties in California. Texas was second with $15 billion, followed by New York at $14 billion.
BUSINESS
June 20, 2013 | By Roger Vincent
A once-notorious building on Hollywood Boulevard next door to where ABC's "Jimmy Kimmel Live!" television show is broadcast has been sold to a Maryland real estate investment firm. The three-story retail and office property, built in 1921 and across the street from the historic TCL Chinese Theatre, has had a rise, fall and comeback fitting for a Hollywood tale. Once known as the Seven Seas building for the nightclub it housed, 6904 Hollywood Blvd. enjoyed popularity in the mid-20th century but fell far and hard in the 1980s and 1990s when scores of businesses departed Hollywood and the neighborhood earned a reputation for being disreputable and even dangerous.
BUSINESS
October 16, 1990
Public Storage Properties XII Ltd., a Glendale partnership that invests in storage properties, has proposed reorganizing into a real estate investment trust. In a filing with the Securities and Exchange Commission, the partnership proposed giving its limited partners shares in the new trust, which could be traded in the stock market. The general partners of Public Storage Properties XII are PSI Associates Inc., a unit of Public Storage Inc.
BUSINESS
July 26, 1991 | From Staff and Wire Reports
For the second time in a week, Moody's Investors Service has downgraded the ratings of several major insurers, citing concerns about their large commercial real estate investment portfolios. The New York-based credit rating agency downgraded the debt of Aetna Life & Casualty Co. of Hartford, Conn.; Crown Life Insurance of Toronto; Home Life Insurance of New York, and Kemper Group and its affiliated life insurance companies in Illinois. None of the rating downgrades, which affect about $1.
BUSINESS
February 15, 2011 | Marc Lifsher, Los Angeles Times
After losing 42% of the value of its extensive real estate portfolio during the recession, the state's biggest public pension fund has approved a formal plan to pursue a less risky investment strategy. Board members of the $229-billion California Public Employees' Retirement System endorsed a plan to shift away from residential properties, raw land and highly leveraged real estate investment trusts to so-called core holdings, mainly commercial office buildings. "We're lowering the risk profile," said Ted Eliopoulos, CalPERS' chief real estate investment officer.
BUSINESS
July 21, 2013 | By Cale Ottens
Sinking money into real estate investment trusts is considered to be one of Wall Street's most complex investments. Owning shares of REITs gives investors an opportunity to get investment exposure to real estate, including apartments, shopping centers and office buildings. But they've gained a reputation of being risky and confusing - especially after the industry was pummeled during the last real estate crash. Even Lloyd McAdams, chief executive of Anworth Mortgage Asset Corp., makes no bones about saying his Santa Monica REIT does carry some risk.
REAL ESTATE
April 30, 1989 | ROBERT J. BRUSS
QUESTION: My husband and I own our 4-bedroom home. We agree it was the best investment we ever made when we bought it about seven years ago. Although we had to pay 14% interest, we refinanced and are now paying only 9.5% interest on our mortgage. But, I can't get my husband to buy any more real estate. We have about $60,000 in various certificates of deposit earning from 7% to 10% interest. Although that is good, I feel we should take some of this money to buy a nearby rental house as an investment.
BUSINESS
September 9, 1999 | Bob Howard
Investment group Maritz, Wolff & Co. bought the 302-room Miramar Sheraton Hotel in Santa Monica for approximately $90.6 million from an affiliate of Japan's Fujita Corp. Officials of Maritz, which is based in Los Angeles and St. Louis, did not disclose the price, but Fujita indicated that the price was $300,000 per room. That is the highest per-room price paid this year for a California hotel, according to Alan Reay, president of Costa Mesa-based Atlas Hospitality Group.
BUSINESS
November 6, 2012 | By Roger Vincent, Los Angeles Times
MPG Office Trust Inc., the largest office landlord in downtown Los Angeles, turned a profit in the third quarter as it continued to shrink its property portfolio. The Los Angeles real estate investment trust, which also owns buildings in Glendale and Cerritos, continued to sell heavily indebted properties while hanging on to most of its trophy buildings in L.A.'s financial district. MPG reported third-quarter net income of $88 million, or $1.57 a share, up from $25.6 million, or 51 cents, in the same period last year.
BUSINESS
July 25, 2012 | By Roger Vincent, Los Angeles Times
A Torrance office building called South Bay Tower was sold for $52 million Tuesday to real estate investment firm Bixby Land Co. The purchase is part of a strategy by Bixby to acquire underperforming or financially troubled commercial properties during a low point in the real estate cycle. In the last two months, the Irvine company also bought two office buildings in Silicon Valley. "Given the downturn that we have just had, there are throughout California a number of good-quality assets that either have a broken capital structure or have occupancy that is substantially lower than would be attractive to many investors," said Bill Halford, chief executive of Bixby.
BUSINESS
March 6, 2012 | By Roger Vincent, Los Angeles Times
MPG Office Trust Inc., the largest office landlord in downtown Los Angeles, narrowed its loss in the fourth quarter even as occupancy in its buildings continued to slip. The Los Angeles real estate investment trust also faced rising costs of office space improvements required to keep and attract tenants. "The downtown L.A. market continues to bounce along the bottom, and MPG faces considerable leasing challenges," said analyst Michael Knott of Green Street Advisors. "Tenants hold the upper hand, as MPG's leasing costs increased to even higher levels, and its occupancy is now below 80%. " MPG, which also owns buildings in Orange and San Diego counties, finished the quarter with a net loss of $31.5 million, or 62 cents a share.
BUSINESS
February 24, 2012 | By Lauren Beale, Los Angeles Times
An asking price of $78.8 million will make a splash in any neighborhood. And the fact that this one includes a temperature-controlled trout pond with a two-story waterfall doesn't hurt. Donald Abbey , the founder of a commercial real estate investment and management firm bearing his name, has listed a recently completed estate in Bradbury, in the San Gabriel Valley. More than nine years in the making, the Palladian-style compound occupies an 8-acre promontory with city and ocean views.
BUSINESS
July 5, 2011 | By Roger Vincent, Los Angeles Times
In one of the largest real estate sales since the last boom, investors have purchased the Pasadena headquarters of engineering company Parsons Corp. for $320 million. The 22.7-acre campus on the northern edge of Old Pasadena was bought from Parsons by Morgan Stanley Real Estate Investing and Lincoln Property Co. The international engineering firm has agreed to remain in its signature 12-story headquarters tower as a tenant for 15 years. The sale was the largest office transaction in Los Angeles County since Aon Center in downtown Los Angeles sold for $327 million at the peak of the real estate cycle in 2007, according to real estate brokerage statistics.
BUSINESS
May 20, 2011 | By Stuart Pfeifer, Los Angeles Times
Los Angeles real estate investor Ezri Namvar, the former owner of such high-profile properties as the Marriott hotel in downtown Los Angeles and the Cal Neva hotel and casino near Lake Tahoe, was convicted on wire fraud charges stemming from allegations that he stole $21 million from investment clients. A federal jury in Los Angeles convicted him Thursday on four wire fraud charges related to his company, Namco Financial Exchange Corp., which held proceeds from real estate sales until clients needed the money for new transactions.
BUSINESS
September 22, 1990
After gobbling up Hawaiian golf courses and Manhattan office towers, the Japanese now have a craving for something European. The investment opportunities are plentiful with European trade barriers dissolving in 1992 and potential new markets opening up with the death of communism in Eastern Europe. The Japanese already have been stepping up their investments in Europe, with development and construction groups, investment firms and life insurance companies leading the way.
BUSINESS
September 15, 1994 | Debora Vrana Times staff writer
Donaldson, Lufkin & Jenrette is again tracking Presley Cos. and finds the Newport Beach home builder's stock "very attractive." Noting that Presley recently sold $200 million of junk bonds and reorganized its finances, a report from the New York investment bank predicts that Presley "can finally position itself to respond to an improving California economy."
BUSINESS
April 21, 2011 | By Roger Vincent, Los Angeles Times
The downtown Los Angeles apartment building know as the Pegasus has been sold to Chicago real estate investment trust Equity Residential for $100 million. It was one of the largest residential property sales ever in the central business district and a sign that downtown's revitalization has caught the attention of national institutional investors, said real estate broker Marc Renard of Cushman & Wakefield. "Equity Residential's purchase is a tremendous endorsement of downtown L.A.," Renard said.
BUSINESS
February 16, 2011 | By Roger Vincent, Los Angeles Times
CB Richard Ellis Group Inc. has agreed to buy ING Group's real estate investment management business in a $940-million deal that would make CB Richard Ellis the global leader in that business. Los Angeles-based CB Richard Ellis, already the world's largest commercial real estate brokerage, said that the proposed transaction, announced Tuesday, would substantially increase its footprint in Asia and Europe by taking over ING Group's 20 investment offices and 760 employees. Investment managers raise money from pension funds, universities and other institutional investors and buy commercial real estate such as offices, warehouses and shopping centers on their behalf.
Los Angeles Times Articles
|