Charles Kushner and 666 Fifth Avenue (Credit: Sasha Maslov) One day after a press conference was held outside 666 Fifth Avenue accusing his family’s real estate company of illegally operating eight buildings, Charlie Kushner penned an op-ed defending his family and his business. In a letter to the Washington Post, Kushner defends the companies investment […]
Keeping up with the Joneses: In wake of JLL-HFF deal, expect a poaching frenzy
JLL is buying HFF for $2 billion (Credit: Pixabay) JLL’s $2 billion acquisition of HFF, a move that further consolidates the commercial-brokerage industry and creates the country’s largest debt platform, is barely a day old. But competing firms have already begun efforts to scoop up brokers who may be displaced by the merger. “With this […]
Rockwood Capital buys historic Santa Monica Clock Tower Building
Walter P. Schmidt Senior Managing Partner of Rockwood and 225 Santa Monica Boulevard The historic Santa Monica Clock Tower Building is changing hands. Rockwood Capital acquired the 12-story Art Deco office building for $31.3 million, records show. The purchase was made through its High Noon Office LLC. The seller was Sorgente Group of America, the […]
LA’s top multifamily investment sales of February
From left: The Miro Apartments, 9229 Sepulveda Boulevard, and 11905 Ferris Road Major multifamily deals stretched across Los Angeles County last month, with Blackstone’s purchase of a 100-unit apartment complex in Santa Fe Springs topping the Top 5 list. Still, the February total of $121 million was less than a third of January’s $391 million […]
How Marriott plans to collect an extra $400M in revenue a year
Marriott expects to add between 275,000 and 295,000 rooms to its portfolio by 2021. (Credit: Getty Images) Marriott is in expansion mode. The hotel giant plans to open more than 1,700 hotels over the next three years. The hotel company expects to add between 275,000 and 295,000 rooms to its portfolio by 2021, according to […]
Saunders Property unloads office complex in La Mirada
Claus Dieckell, chairman at Milan Capital and the Atrium office building in La Mirada (Credit: CBRE) Saunders Property Company sold an 84,000-square-foot office building in La Mirada, unloading the property through a 1031 exchange. The buyer was investment firm Milan Capital Management. Anaheim-based Milan Capital bought the four-story Atrium offices for $13.6 million, according to […]