CEO of Public Storage Ronald L. Havner Jr. and the site in North Hollywood (Credit: Google Maps) Public Storage is hoping to redevelop its facility in North Hollywood to nearly quadruple the overall size. The Los Angeles City Planning Commission next week will consider the plan for a three-story warehouse facility for self-storage. It would […]
Healthy investment: Optimus Properties buys medical office tower near $500M hospital expansion
Optimus Properties, LLC cofounders Kamyar Shabani and K. Joseph Shabani and the building Investment firm Optimus Properties bought a 10-story medical office tower in the San Fernando Valley, scooping up a property next door to a $500 million hospital expansion. Century City-based Optimus paid $22 million for the 85,000-square-foot property. Called Tarzana Tower, the building […]
A death services provider outmaneuvered local developers to win this sprawling piece of raw land
SCI paid $32 million for 28 acres next to its Groman Eden Mortuary and Eden Memorial Park (Credit: iStock) Don’t fear the reaper — just sell him the land he wants to buy. Service Corporation International — North America’s largest provider of funeral and cemetery services — last week closed a $32 million deal for […]
San Fernando Valley might be selling homes slowly, but prices just won’t stop rising
Southland Regional Association of Realtors President Dan Tresierras and the San Fernando Valley (Credit: Wikipedia) Following suit with most of Los Angeles, fewer homes in San Fernando Valley are selling, but they’re moving at record high prices thanks in part to cheap financing. Overall sales dropped 14.7 percent in June year over year to 487, […]
Putting the squeeze on development: LA councilman opposes sale of orange grove
Councilmember Bob Blumenfield and Bothwell Ranch The season appears ripe for a battle over the San Fernando Valley’s last remaining commercial orange grove and its potential sale to a developer. The 14-acre Bothwell Ranch in Tarzana hit the market in April for $13.9 million. But this week, Los Angeles City Councilman Bob Blumenfield moved to […]
This online LA rental platform is a multifamily buyer
John Chiu and 12711 Branford Street (Credit: Google Maps) LAApartments.biz just made its second multifamily property purchase in a month. The online rental platform acquired a 100-unit development in the San Fernando Valley, according to property records. The Palms-based company purchased the Branford Villa Apartments in Pacoima for $23.5 million. It was acquired through its […]