Los Angeles
State Unemployment Drops; Job Growth, Shrinking Workforce Main Causes
California’s unemployment rate dipped to 4.2% in May, while the state’s employers added 19,400 non-farm payroll jobs, according to data… Read more
Connect Apartments 2019: Healthy Outlook for the Multifamily Sector
By Ben Johnson Connect Apartments 2019 kicked off with a bang last week, as Michael Cohen, vice president advisory services… Read more
Kevin Rude Tapped to Lead Colliers West Coast Group
Colliers International’s Kevin Rude will assume expanded responsibilites after being promoted to the post of Regional Managing Director – West… Read more
Ghost Management Group Inks 115K-SF DTLA Arts District Deal
Irvine, CA-based Ghost Management Group signed a 115,000-square-foot office lease at the Arts District’s ROW DTLA. The tech firm that… Read more
Parkview Provides Construction Loan for New L.A. MXU
Parkview Financial provided a $16.5 million construction loan to Los Angeles-based 5050 Pico, LLC for the development of Kentish Town.… Read more
Faris Lee Completes $39M Senior Housing Deal in Hayward
Florida-based Kayne Anderson Real Estate acquired Casa Sandoval, a 187,926-square-foot senior housing community in Hayward, CA, for $39 million. Constructed… Read more
Lennar Buys Arcadia Retail Site, Envisions Resi Conversion
Lennar Homes acquired an aging retail shopping center in Arcadia from Seal Beach, CA-based The Olson Company with plans to… Read more
Golub, CIM Top Out on Luxury Condos
The developers of Fifteen Fifty on the Park have topped off construction on the luxury condominium development at the corner of North… Read more
Gut Renovated Central Harlem Apts. Come to Market
GFI Realty Services has been hired to market 2918 Frederick Douglass Blvd., a four-story Central Harlem multifamily building with 12 free-market… Read more
JBA Secures M&T Construction Loan for Greenpoint Rentals
Jonathan Aghravi of JBA Equities has arranged $38-million in financing from M&T Bank for ground-up construction at 30 Kent St., an 80-unit… Read more
Onni Group Secures $550M Acquisition Loan for Wilshire Courtyard
Canadian investor Onni Group received $550.2 million in floating-rate financing for the acquisition of Wilshire Courtyard on Los Angeles’ Miracle… Read more
Google Funding 20K Bay Area Homes with $1B Commitment
Google plans to invest $1 billion in housing across the Bay Area, with a goal of adding 20,000 new homes.… Read more
Seattle’s Historic Louisa Hotel Re-born as Apartments
A partnership between the Woo Family and Gaard Development is set to open the historic Louisa Hotel as an 84-unit multifamily… Read more
Mike Ibarra Joins American Realty Advisors’ Team
Los Angeles-based American Realty Advisors (ARA) expanded its leadership team with the addition of Mike Ibarra as SVP, Investor Relations.… Read more
Carter Acquires Six-Property MF Portfolio in Savannah for $84M
Carter Multifamily has acquired a six-property apartment portfolio in the Savannah area for $84.3 million. The seller was not disclosed.… Read more
FCP Buys Philly Luxury Rentals for $118M from J.P. Morgan
FCP acquired Edgewater, a 286-unit luxury high-rise apartment community in Center City Philadelphia, for $117.9 million from institutional investors advised by… Read more
FirstService Will Manage Hines’ MoMA Condo Tower
FirstService Residential has been appointed to oversee the management of 53 W. 53rd St., an 82-story residential condominium tower adjacent to… Read more
Rent Reform’s Impact Won’t Be Limited to Landlords
Now that Gov. Andrew Cuomo has signed what he called “the most sweeping, aggressive tenant protections in state history,” apartment… Read more
Draper & Kramer Opens Rentals on Gold Coast Lakefront
Draper & Kramer held a grand opening for its 61 Banks Street, an eight-story, 58-unit boutique rental building at Banks… Read more