900 Seward Street and Jeffrey Moghavem, director of asset management at Archway (Credit: CBRE) Archway Holdings is expanding its footprint in Los Angeles with the purchase of a fully-leased 40,300-square-foot office building in Hollywood. The Beverly Hills-based real estate investment firm sold the building for $23.5 million, records show. It closed late last month. The […]
Action: Warner Bros. strikes major deal for its Burbank Studios
Warner Bros. Entertainment Executive Vice President Kim Williams, Worthe Real Estate’s Jeffrey Worthe, and a rendering of the Frank Gehry-designed towers at Burbank Studios Technology companies like Facebook, Apple, Amazon, Netflix and Google — and the HBO network — are all expanding their offices in Los Angeles, eating up real estate as the age of […]
Shopping for a deal, Fortress sells Vons-leased property in Long Beach
Fort Ashford Managing Director Susan Kavanaugh and 600 E. Broadway in Long Beach Fortress Investment Group sold a Long Beach commercial property with a Vons supermarket as a long-term tenant. Newport Beach-based investor Fort Ashford Funds acquired the property for $29 million, according to the Los Angeles Business Journal. The 48,000-square-foot property is located at […]
Singapore fund slashes stake in India’s biggest commercial developer
DLF IT Park in Rajarhat (left); GIC abruptly sold most of its stake in the CRE company (Credit: Biswarup Ganguly/Wikimedia Commons, GIC) The Singapore government sharply reduced its equity stake in DLF Ltd., the largest commercial real estate developer in India. Singapore’s sovereign wealth fund GIC sold 68 million shares of DLF in open-market transactions, […]
Why a tiny Danish town is building the tallest tower in Western Europe
Bestseller Tower designed by architect Dorte Mandrup (Credit: Dorte Mandrup) The tallest building in Western Europe may rise in a location few would have guessed: a rural village in Denmark. The 1,050-foot-tall building would be visible for up to 37 miles in every direction from Brande, Denmark, population 7,000. However, Brande has a significant footprint […]
NY is introducing its own Green New Deal
The Climate Mobilization Act aims to curb carbon emissions in NYC (Credit: iStock) As Washington debates the controversial Green New Deal, New York City is forging ahead with its own measures in a bid to curb climate change. The city council will announce Thursday a batch of proposed legislation, dubbed the Climate Mobilization Act, that […]