LPC’s David Binswanger, Angelo Gordon’s CEO Michael Gordon and the property (Credit: Yardi Matrix) As multifamily developers and commercial firms flock to Warner Center, one joint venture is looking to cash out. Lincoln Property Company and Angelo Gordon have put their sprawling office campus, dubbed Campus @ Warner Center, on the market for $215 million, […]
On a roll: Access Industries adds to DTLA haul
Access Industries founder Len Blavatnik and the warehouse in DTLA Just weeks after purchasing the landmark Ford Factory building, Access Industries picked up a pair of warehouses just around the block in Downtown’s Fashion District. For its latest haul, the New York-based industrial firm paid $32 million for 2020 E. 7th Place and the adjacent […]
Israeli bondholders file class-action suit against Starwood
Starwood Capital Group’s Barry Sternlicht and Israeli Bond Market (Credit: iStock) Starwood Capital Group is facing allegations that it misled investors about the risks of its Israeli bonds that backed struggling shopping centers in the U.S. The lawsuit stems from the struggles facing Starwood’s mall portfolio, where vacancy rates have increased and net operating income […]
Venezuela opposition leader spurs renewed interest among SoFla real estate investors amid turmoil
Nicolas Maduro and Juan Guaido (Credit: Wikipedia and Google Maps) UPDATED, Feb. 21, 4:10 p.m.: As Venezuela descended into economic turmoil in recent years, real estate values plummeted and investors looked elsewhere, including to South Florida. Eventually, that too dried up, as the government’s grip tightened and the country grew more isolated. Now, as Venezuela’s […]
“We are blowin’ and goin’:” Earnings rise for Simon Property amid retail storm
Simon Property Group’s David Simon (Credit: Getty Images and iStock) Simon Property Group’s reported higher earnings despite continued nationwide retail store closings and the unrelenting challenge from e-commerce. At its first quarter earnings announcement on Tuesday, the Indianapolis-based REIT said the continued wave of retailer bankruptcies took a toll on revenue. Still, the company reported […]
Still on the market, Warner Center tower will get $50M creative office conversion
LPC West’s David Binswanger and Rob Kane The planned reposition of a 14-story Warner Center office tower will look to take advantage of the growing creative office trend, likely making the on-the-market building more attractive to potential buyers. Lincoln Property Company, working with the building owner Abraham Lerner, will embark on a $50 million reposition, […]