The We Company CEO Adam Neumann (Credit: Getty Images and iStock) The We Company’s annual losses doubled to nearly $2 billion in 2018, the company said on Monday. The co-working giant’s revenue also more than doubled, to $1.82 billion, but heavy spending toward worldwide expansion led to losses of $1.93 billion for the year, the […]
Sweet green: Medmen scores $250M investment for cannabis retail buildout
Medmen CEO Adam Bierman and Medmen’s Downtown LA shop More green is pouring into the coffers of rapidly-growing cannabis operator MedMen Enterprises. The Culver City-based company just got a $250 million investment from Gotham Green Partners, which MedMen intends to use to help fund its national retail expansion. The news was announced in a release, […]
Miami-based firm enters California market with $85.7M Marriott hotel acquistion
Marriott Mission Valley in San Diego Miami-based Driftwood Acquisitions and Development entered the California market by acquiring a Marriott hotel in San Diego for $85.7 million. Driftwood paid just under $243,000 per key for the 353-key Marriott Mission Valley and plans to develop a second hotel on the same site. The Miami-based firm is soliciting […]
Fox keeps 50-acre Westside studio lot after Disney deal amid growing demand
Fox Corp. CEO Lachlan Murdoch and the Fox lot outside Century City Walt Disney Company closed on its $71.3 billion acquisition of 21st Century Fox earlier this month with one major real estate asset left out of the big deal: Fox’s sprawling Westside studio lot. Fox hasn’t said what it plans to do with the […]
Hollywood Hills property with ties to former first lady lists for $30M
Betty Ford and the Hollywood Hills property An 18-acre undeveloped property in the Hollywood Hills with ties to former First Lady Betty Ford, and whose current owner tried to zone it for a large residential building, is on the market. Listed for $30 million, the parcel was created by merging two separate properties, according to […]
No love in Venice for landlord’s apartment-to-hotel conversion plan
The Venice Suites A Venice businessman is facing strong opposition to his plan to permanently convert a rent-regulated building into an extended-stay hotel in the seaside community. Los Angeles city planning commissioners ruled against Carl Lambert’s request to continue to operate the property at 1305 Ocean Front Walk as a hotel, according to the Los […]