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BUSINESS
May 10, 2011 | By Roger Vincent, Los Angeles Times
Long-suffering office landlord MPG Office Trust Inc. reported a first-quarter loss Monday as the Los Angeles company struggled with debt and a weak rental market. The real estate investment trust, which owns some of the region's best-known skyscrapers including the U.S. Bank Tower in downtown Los Angeles, finished the quarter ended March 31 with a loss of $39.5 million, or 81 cents a share. MPG turned a profit of $18.6 million, or 38 cents, in the same period a year earlier.
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BUSINESS
January 19, 2014 | By Roger Vincent
Despite a mixed performance in 2013, the Southern California office market improved slightly overall as the year finished with small increases in occupancy and rents. The ever-popular Westside continued to lead the way as active leasing helped landlords fill empty space in their buildings and ratchet up rents. Orange County also held on to its upward trajectory. "Things are getting better, little by little," said Petra Durnin, director of research in the West for real estate brokerage Cushman & Wakefield.
BUSINESS
July 17, 2011 | By Roger Vincent, Los Angeles Times
The last surviving original developer of Marina del Rey got a little emotional before turning a shovelful of dirt to mark the beginning of a new apartment complex that will replace the one he built in the early 1960s. Under an awning decked in red, white and blue, Jerry Epstein recalled last month how financiers were skeptical of the man-made marina in its early days, and only a "very substantial" loan from actor Kirk Douglas gave Epstein enough cash to build Del Rey Shores apartments on Via Marina.
BUSINESS
September 26, 1989
American Video Clearinghouse in Westlake Village said it signed a letter of intent to acquire a division of Comprehensive Leasing Corp., of Austin, Tex. Terms were not disclosed. The division provides inventory and equipment to operators of video stores. American Video Clearinghouse rents videocassette tapes by mail.
BUSINESS
August 3, 2008
Some important points are missing from the story on living in the loft. ("Lofty living pays sweet dividends," Your Money, July 27.) Rents rise every year, and in about 10 years, the current rent will double. No equity is being built up. For people with no independent means, this is more than a hurdle; it might put them into homeless category once they stop working. Few people can live on a couple of plastic bags of goods carried up, and fewer still will live without a car. Parking expense is significant.
CALIFORNIA | LOCAL
April 30, 1994
Popcorn is not only a hazard to your health but to the aesthetic enjoyment of a movie. When we go to a live play in a theater, we don't have to cope with the rancid stench of popcorn oil, the crunching of teeth, the smacking of lips. That's why my family stays away from movie theaters and rents videos. G. BORDING MATHIEU Laguna Beach
NEWS
May 19, 1985
A West Hollywood landlord, Letizia Gelles, filed a lawsuit in Los Angeles Superior Court to exempt her 15-unit apartment building from the city's freeze on rents. After the city's incorporation its council voted not only to freeze the prices on rents but also rolled them back to what they were on Aug. 6, 1984. In doing so, the city denied this landlord the right to rent her apartment units at the free market-value prices, which is so fundamental in our marketplace economy and which is taken for granted by all other enterprises (such as)
BUSINESS
April 22, 1990
Regarding "Real Estate vs. Stocks: Which is Better," no argument when you buy rental property so that the rents always cover the debt service and you have tax benefits from the debt service and depreciation. However, one gives up liquidity to own real estate, which makes it sometimes totally out of the question for retirees, small pension plans, etc. Also, if the rents don't cover the cash flow or are interrupted, you have negative cash flow. That's like buying IBM stock and paying them the dividend while you hope it goes up in value.
REAL ESTATE
April 28, 1991
Pamela Stevens, in her quest for a two-bedroom Westside apartment, may indeed find many of them unaffordable by her income standards (Speaking Out, "Rentals: Supply Siders Break Law of Economics," April 21). This doesn't mean, however, that rents aren't being reduced and deals aren't being made. While some naive landlords defy laws of supply and demand by holding tough on rents and doing little to upgrade interiors, there are still a few of us around who understand basic economics and merchandising.
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