Asher Luzzatto and a rendering of the converted dairy Luzzatto Company has closed on the deal for a former West Adams dairy building it’s converting into offices, which Sweetgreen will use as its corporate headquarters. The Real Deal first reported on the pending deal in May. Luzzatto purchased the site from Olson Company for $14.8 […]
Goodman Group lands massive Boeing complex, with big conversion plans
Anthony Rozic, CEO of Goodman North America and Dennis A. Muilenburg, Boeing CEO Less than a month after Goodman Group bought a 37-acre manufacturing site from Ralph’s Grocer, the industrial developer acquired a massive Boeing property in Long Beach. The most recent deal for the 93-acre property — including a 1.1 million-square-foot building — is […]
Women make up majority of new REIT board members for second year: report
50.4 percent of the 119 new REIT directors were women (Credit: iStock) For the second year in a row, public real estate companies added more women than men to their boards. During the spring proxy season, real estate investment trusts added 60 new female members, meaning 50.4 percent of the 119 new directors were women, […]
Blackstone-backed mortgage lender Stearns files for bankruptcy
Blackstone President and COO Jonathan Gray and Stearns Lending CEO David Schneider (Credit: Getty Images) Stearns Holdings, the parent company of residential mortgage lender Stearns Lending, filed for Chapter 11 protection Tuesday morning after agreeing on a debt-restructuring plan with majority owner Blackstone Group. The restructuring will erase $184 million in outstanding bond debt from […]
Office rents spike as tech and media tenants continue leasing spree: report
Downtown Los Angeles (Credit: iStock) Content creators like Netflix and Apple continued to absorb much of the available office space in the second quarter, proving the battle for office space is quickly becoming as contentious as the battle for the best content. Leasing activity reached a three-year high of 5.3 million square feet in the […]
Milan’s rising rent, office space shortage sparks investing spree
(Credit: iStock) Investor demand for prime office space in Milan has surged amid a shortage of Class A buildings in the financial capital of Italy. Sources told Bloomberg negotiations that could change the ownership of several trophy office buildings in Milan are underway. Among other potential deals, the State Oil Fund of the Republic of […]