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  • Caruso Targets a Host of Properties in Central Pacific Palisades for Renovation and Rebranding

    The central properties seem to have cost Caruso a total amount in the $40-$50 million range. However, the financial terms of the transaction were not disclosed to the media and an accurate number is currently not available. Most of the properties are currently tenant-free and are 50-60 years old, making them perfect for a complete overhaul. The Times points out that even the tenants in place have clauses in their short-term contracts that stipulate that the owner has the right to modify the property and redevelop the site.

    Los Angeles 02 January 2013 16:35