Apartment complex at 1435 Stanley Avenue and Raintree Partners CEO Jeffrey Allen (Credit: Apartment Finder) A multifamily developer based in Orange County is making a big bet on Glendale. Raintree Partners has paid $79 million to acquire a seven-property multifamily portfolio in the region, according to a company announcement released Wednesday. Property records reveal the […]
Westcore Properties snags $100M loan for massive Azusa redevelopment project
Marc Brutten, founder of Westcore and the redevelopment site (Credit: Google Maps) Investment firm Westcore Properties has landed a $100-million loan to build a massive car dealership and rental facility at a large industrial property it purchased in Azusa in February. Bank of America provided the financing. Westcore wants to build the dealership and rental […]
CenterPoint Properties scores lease for its last-mile warehouse
CenterPoint CEO Bob Chapman, Greg Pearson and the property The industrial market remains red-hot in Southern California, and at the center of is is the last-mile warehouse. CenterPoint Properties has signed a stationery and gift design company to a five-year lease at those so-called last-mile properties, which it purchased a year ago. The 122,700-square-foot facility […]
Puerto Rico’s governor touts $120M deal, OZs to hotel investors
Puerto Rico Governor Ricardo Rosselló (Credit: iStock and Getty Images) Puerto Rico Gov. Ricardo Rosselló is trying to entice investors to the island’s hotel sector with a flagship $120 million deal and new tax credits. On the second day of New York University’s International Hospitality Industry Investment Conference, Rosselló spoke to hundreds of attendees about […]
Down goes Measure EE: Property tax referendum routed at polls
LA Mayor Eric Garcetti Voters on Tuesday soundly rejected a proposed parcel tax to fund the Los Angeles Unified School District, a measure that, if passed, would have had the biggest impact on commercial landlords. It was another defeat for a referendum that appeared to take aim at large property owners and developers. In November, […]
Hilton chief talks China, the Waldorf Astoria and tipping
From left: Hilton Worldwide Holdings CEO Christopher Nassetta, the Waldorf Astoria at 301 Park Avenue, and China President Xi Jinping (Credit: Getty Images) Hilton Worldwide Holdings’ dealings with the Chinese government, the Waldorf Astoria and tipping practices were all topics of conversation during a lunchtime interview with the hotel company’s chief executive. Hilton CEO Christopher […]