Drawbridge Realty co-founders Mark Whiting and Mark Pearson with a rendering of the building Commercial investment firm Drawbridge Realty has acquired the massive Pacific Center office complex in Santa Ana in a nearly nine-figure trade. Pacific Coast Capital Partners and Brookhollow sold the 390,600-square-foot property for $97.5 million, Commercial Observer reported. The two-building complex is […]
Federal Realty sells off historic Bijou Building in Hermosa Beach
Federal Realty CEO Donald Wood and the Bijou Building A historic theater repurposed into a retail and office building in Hermosa Beach has sold for $18 million, as the beach town attracts an increasing number of investors. The seller was Federal Realty Investment Trust, a retail real estate investment trust based in Maryland. An LLC […]
Scion of construction behemoth Bechtel launches $100M construction tech fund
Brick & Mortar Ventures’ Darren Bechtel (Credit: LinkedIn and iStock) A venture capital firm led by a scion of one of the world’s largest construction companies has launched a $100 million fund to invest in construction tech. The fund, launched by San Francisco-based Brick & Mortar Ventures, is the largest to focus exclusively on construction-technology […]
Culver City gets on the rent-cap train, David Chang is no Stephen Ross fan: Daily digest
Every day, The Real Deal rounds up Los Angeles’ biggest real estate news. We update this page at 9 a.m. and 4 p.m. PT. Please send any tips or deals to tips@therealdeal.com This page was last updated at 9 a.m. PT Culver City has capped its rents. Elected officials in the Westside city voted […]
GPI Companies will target multifamily properties, retail conversions with $300M fund commitment
From left: GPI Companies co-founders Cliff Goldstein and Drew Planting, and GPI Cos. partner Lee Wagman Investment and development firm GPI Companies has received a $300 million commitment for its real estate fund, and will use the capital for multifamily, office and industrial properties, and retail conversions. The commitment came from one of the state’s […]
Anbang’s multibillion-dollar US luxury hotel portfolio may have buyer: report
Anbang former Chairman, Wu Xiaohui and some of the properties Anbang Insurance Group appears to have found a buyer for its multibillion-dollar U.S. luxury hotel portfolio, which includes JW Marriott Essex House in New York and Loews Santa Monica Beach Hotel in Los Angeles. An affiliate of South Korea’s Mirae Asset Financial Group is working […]