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SummerHill Appoints Patrick S. Simons as Senior VP of New SoCal Division

SummerHill Appoints Patrick S. Simons as Senior VP of New SoCal Division

The growing multifamily market of Southern California is prompting changes to companies and shifting strategies. To that effect, SummerHill Apartment Communities, a division of SummerHill Housing Group, has enlisted the talents of Patrick S. Simons, an industry veteran, to help with the company’s brand new SoCal division. The professional will…

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New Little Tokyo Apartment Community Breaks Ground as Downtown L.A. Continues Rise

New Little Tokyo Apartment Community Breaks Ground as Downtown L.A. Continues Rise

With Koreatown communities in L.A. now moving and the submarket’s multifamily sector set for continuous growth, it is time to switch the focus shift to another community’s development endeavors, namely Little Tokyo. Residentinal developer SARES-REGIS Group recently announced that it has broken ground on a new mixed-use apartment development in…

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K2LA Luxury Development Selects Cobalt Construction for Second and Third Buildings

K2LA Luxury Development Selects Cobalt Construction for Second and Third Buildings

One of the largest luxury multifamily projects under development in Los Angeles now is the K2LA urban development. The project’s developer, Century West Partners, has recently announced that it has selected a company to handle the second and third phases of construction at the site. Cobalt Construction Company will take…

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Live/Work Community in Studio City Secures Recapitalization Deal Worth $37 Million

Live/Work Community in Studio City Secures Recapitalization Deal Worth $37 Million

One of the city’s strong points will always be linked to the film industry and that appeal is precisely what prompted Cahuenga Pass Development’s Universal Lofts project. The company recently completed a recapitalization on the project, secured by locally-based real estate investment banking firm, Dekel Capital. The company arranged for…

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Kilroy’s Sunset Media Center Holds Major Tenant Nielsen Media Research, Adds FilmL.A. to Roster

Kilroy’s Sunset Media Center Holds Major Tenant Nielsen Media Research, Adds FilmL.A. to Roster

L.A.’s office market continues to be driven by the entertainment industry as two companies have signed leases at the soon-to-be-renovated Sunset Media Center in Hollywood. Bought by real estate company Kilroy Realty Corp. at the end of 2012, the office building is set to receive extensive interior improvements as the…

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Developer Finally Awarded Crenshaw/LAX Transit Corridor Contract as Project Moves Forward with New Construction Start Date

Developer Finally Awarded Crenshaw/LAX Transit Corridor Contract as Project Moves Forward with New Construction Start Date

A much-talked about project for Los Angeles’ transportation system recently got the go-ahead when the Los Angeles County Metropolitan Transportation Authority Board of Directors approved a contract worth $1.2 billion to Walsh/Shea Corridor Constructors to build the Crenshaw/LAX Transit Corridor. The development is now in the utility relocation phase with…

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Real Estate Investment Company Reaches for the Stars as It Completes Walk of Fame Building Acquisition

Real Estate Investment Company Reaches for the Stars as It Completes Walk of Fame Building Acquisition

Hollywood’s flashing stars seem to continue to attract attention as ASB Real Estate Investments has recently moved on the market for a prime retail and office property located along the world-famous Walk of Fame. The company has acquired the property for its Allegiance Fund, a $2.2 billion core, open-end real…

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U.S. Bank Completes Financing Deal for Two L.A. Senior Affordable Housing Projects

U.S. Bank Completes Financing Deal for Two L.A. Senior Affordable Housing Projects

An important financing deal securing the future of two urban senior housing developments in Los Angeles was completed last week when U.S. Bank confirmed that it is providing $55.1 million for the projects. The two affordable housing complexes have groundbreaking ceremonies scheduled this month. U.S. Bank is working with the…

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West Angeles Community Development Corporation Debuts New Community-Helping Project

West Angeles Community Development Corporation Debuts New Community-Helping Project

A brand new development was recently unveiled in the Crenshaw Corridor, bringing the spotlight on an area of the city that has been in serious need of a makeover. The $8.5 million investment was handled by the West Angeles Community Development Corporation and Union Bank and is located at 3501…

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Construction Begins on New Luxury Residential Development in San Gabriel Valley

Construction Begins on New Luxury Residential Development in San Gabriel Valley

Construction has begun on the latest San Gabriel Valley mixed-use development. Hutton Companies recently announced that its new project, La Verne Village, has broken ground and is now set to meet its construction deadline, in Q1 of 2014. The developer is investing approximately $43 million into the luxury apartment community…

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Los Angeles Real Estate Maintains Buzz

Los Angeles Real Estate Maintains Buzz

By Alex Girda With the sale of the Mondrian Los Angeles hotel to Pebblebrook Hotel Trust now closed, the Los Angeles real estate investment market continues to move forward, most recently with Phoenix Realty Group’s purchase of three apartment properties in San Bernandino and Highland.  The total value of the transaction was…

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Vandenberg Air Force Base Military Housing Ends Six-Year Makeover Process

Vandenberg Air Force Base Military Housing Ends Six-Year Makeover Process

The housing component at Vandenberg Air Force Base has received a major boost as the initial development period has finally come to an end. A partnership between Balfour Beatty Communiites LLC and Hensel Phelps Construction Company handled the renovation and construction of new military housing units at the base. The…

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