Geoff Palmer and Orsini II Developer Geoff Palmer has secured a $128 million refinancing for his 566-unit Orsini II residential complex in Downtown Los Angeles. Walker & Dunlop provided the fixed-rate loan, mortgage documents show. It replaces a $115.2 million floating rate loan from 2016 that Palmer’s company, G.H. Palmer Associates, had on the property. […]
L.A. Care inks huge lease in Rising Realty’s Garland Building
LA Care CEO John Baackes and the building at 1200 West 37 Street The largest publicly-operated healthcare company has signed one of the largest leases in Los Angeles so far this year. L.A. Care Health Plan inked a deal to occupy 370,000 square feet at a Rising Realty-owned building, located in the outskirts of Downtown […]
Ventus Group buys assemblage at “Fig” DTLA megaproject
Ventus Group Executives Scott Gale and John Booty with the site (Credit: Google Maps) With support from the Los Angeles Planning Commission, Ventus Group is moving ahead with its plan to bring 300 hotel rooms and about 400 units of housing to an area near the University of Southern California on Figueroa Street. Now, the […]
Mitsui Fudosan goes bigger and taller at DTLA tower project
Mutsui Fudosan America CEO John Westerfield and a new rendering of the Eighth, Grand, and Hope project via Gensler Developer Mitsui Fudosan America is upsizing its Downtown Los Angeles tower in a big way. The new design for the complex at 754 South Hope Street will now be 45 stories instead of 40 and will […]
Lightstone Group scores $355M construction loan for hotel at Fig+Pico
Lightstone Group CEO David Lichtenstein and a Rendering of Fig + Pico Lightstone Group has secured a $355 million construction loan to build the Marriott AC and Moxy Hotel at “Fig + Pico,” its sprawling mixed-use project next to the Los Angeles Convention Center area. It will be one of two hotels at the development, […]
$152M in industrial sales closed last week. Here’s what traded.
$152 million worth of industrial real estate traded last week (Credit: Google Maps) L.A.’s industrial market had a hot streak last week: within just three days, four properties traded hands for a combined total of $152 million. Three of the transactions were for properties in the Gateway Cities area, along the Interstate 5 corridor in […]