Multifamily news in Operations - Los Angeles

  • MHN’s Top 5 April 2017 Articles

    Miss out on any MHN stories in April? Here are five of our most popular articles for the month, including the top 10 apartment owners in Los Angeles and the status of Chicago development.

  • ISL to Manage SoCal Senior Living Community

    This is the third community the company is managing for The Wolff Co., the developer of the 136-unit property in Oxnard, Calif.

  • Legacy Partners to Manage 183-Unit SoCal Community

    The 183-unit property features contemporary studios and one-, two- and three-bedroom flats and townhomes.


    Heather Wallace will focus on business development, strategic planning and marketing for the company’s western region.

  • WinnResidential Wins Management of 4,420-Unit CA Portfolio

    Highridge Costa Investors awarded WinnResidential the right to manage a portfolio of 48 California LIHTC properties.

  • Hines Eyes Occupancy Boost Following Latest O.C. Office Purchase

    Hines recently closed on a large Class A office campus in Irvine.

  • Historic Old Pasadena Building Gets Modern Certification

    In an example of renovation focused on energy efficiency, an historic office building in Pasadena was recently granted green certification by the United States Green Building Council.

  • Successful Repositioning Project Nets Record-Setting Price

    An extensive renovation process recently resulted in the record-setting sale of a commercial asset near the CBS Television City. The Souferian Group just netted $19.6 million in the offloading of the office property at 8075 W. 3rd Street to buyer Continental Development Inc.

  • Newly Built Industrial Asset in Santa Fe Springs Signs First Major Tenant

    A recently built Santa Fe Springs industrial asset completed a major long-term lease worth approximately $20 million. Gelson’s Markets recently inked an agreement for more of the available space at the Freeway Springs Logistics Center. The company will also take up a large component of the property’s available office space, where it will be relocating a large part of its staff. The transaction was arranged by two teams of Colliers representatives, writes, with owner Freeway Springs LLC, a Golden Springs Development Co.

  • Notable Hollywood Tower Sold by Joint Venture in $16.4 M Deal

    The Cahuenga Media Tower, one of the most representative properties in the Hollywood submarket of Los Angeles, recently traded hands. An undisclosed buyer paid $16.4 million to a joint venture consisting of GPI Companies and KBS Strategic Opportunity REIT. The deal was brokered by CBRE representatives Kevin Shannon, Scott Schumacher, Michael Longo and Ken White, who worked on behalf of the seller.

  • 4000 MacArthur Office Project in Newport Beach Trades Hands

    A large office asset in Newport Beach was recently acquired by Hines for an undisclosed amount. The buyer worked along with a subsidiary of a fund managed by Oaktree Capital Management L.P. in the acquisition of 4000 MacArthur, a large office asset located in the Airport Area submarket. As a result of the transaction, Hines will take over management duties on behalf of the joint venture.

  • United States Green Building Council Awards LEED Gold Certification to US Bank Tower

    The U.S. Bank Tower in L.A., one of the most high-profile office properties in the downtown area was recently awarded Gold certification under the U.S. Green Building Council’s LEED for Existing Buildings Rating System. The building is currently under the ownership of OUE Limited, while property management duties are being handled by international real estate firm Hines. Tenants at the U.S. Bank Tower include names such as U.S. Bank, Hinshaw & Culbertson, Regus, and the Special Olympics.

  • Iconic 801 Tower Ends Long Run of Changes as New Owner Cornerstone Appoints New Property Manager

    After recently trading hands between seller Mani Brothers Real Estate Group and buyer Cornerstone Real Estate Advisors for a fee of around $177 million, the 801 Tower now also has a new property manager. The iconic office property will be managed by Transwestern, with the company being newly-appointed by owner Cornerstone. Transwestern’s on-site management team will be led by Senior Property Manager Annie Hessen.

  • Burbank Office Property Acquired by Granite Properties in $49 Million Deal

    A Burbank office building was recently acquired by Granite Properties as the company expanded its SoCal office portfolio past the one million square feet mark. The buyer paid Legacy Partners Realty Fund I LLC a fee of $49 million for the asset located in the city’s Media District. Legacy Partners was represented by Kevin Shannon, Tom Bollinger and Michael Longo of CBRE, while Granite Properties was represented by its own employees, Paul Bennett and Tom Miller.

  • Capri Capital Partners Joins Forces with TruAmerica Multifamily for the $283 Million Acquisition of The Vermont

    A partnership of Capri Capital Partners and TruAmerica Multifamily just completed the larges multifamily, mixed-use transaction in the state of California for the current year. The partnership closed on a deal worth $283 million, for the recently completed The Vernon high-rise apartment complex in the Los Angeles submarket of Koreatown. Property management duties at the complex will be carried out by Lincoln Property Company, the entity being hand-picked by the new ownership group.