Real Estate

There has been a lot written and said about COVID-19 and teleworking friendly work policies sending urbanites permanently into the suburbs and even rural areas. But migration from cities is nothing new, according to urban planner Christopher Rhie, an associate principal with the Los Angeles office of global firm Buro Happold.  “Retirees and young families

While some Manhattan residents flee the Upper West Side, “The Handmaid’s Tale” star Elisabeth Moss is moving to the neighborhood. We hear that Moss, who’s currently filming in Toronto, is moving uptown near the area where “Ghostbusters” star Rick Moranis was recently assaulted in a random early morning attack near his Central Park West pad.

The pandemic has been called an accelerator, fueling trends that were already on track. Industrial is the prime example. The market has, in many ways, been a beneficiary of the pandemic. On the other hand, office and retail assets were already set for major changes, and now those changes are hitting harder and faster than

Victorian homes seem to lend themselves naturally to movies and television shows of the horror genre. There is just something about them that screams ‘haunted house!’ Still, I have yet to come across one with quite the horror pedigree of Altadena’s famed Woodbury-Story House. By my count, the historic residence has appeared in no less

Count child care assets as among the net lease categories investors should be watching. So says Milo Spector, associate director at Stan Johnson Co. We caught up with Spector for a quick Q&A on why child care assets should be on net lease investors radar. Following are excerpts from the interview.  How does pricing for

Panelists representing the industrial, office, retail and multifamily sectors of commercial real estate made the case for investment in their respective sectors at NAIOP’s CRE.CONVERGE, the virtual conference taking place this week.  In a real-time audience poll, the attendees cited industrial as the sector they would be most likely to invest in.  However, much of the

“Forget everything you think you know about Roosevelt Island,” said Kaja Meade, who moved her family from Manhattan to the spit of land in the East River in 2012. The slender, two-mile long expanse tucked between the Upper East Side and Astoria, Queens, is a somewhat obscure neighborhood whose appeal — and sheer existence —

Invitation Homes and Rockpoint Group have formed a $375 million joint venture that will acquire single-family homes to operate as rental residences. Of the total equity commitment, $75 million will be committed by Invitation Homes and $300 million will be committed by Rockpoint. A total of over $1 billion, including debt, is expected to be

The so-called Sitcom King has another hit on his hands, except this one’s not of the television variety. Property records reveal Chuck Lorre has added to his portfolio with the $9.5 million purchase of a Pacific Palisades property, acquired in an off-market transaction that closed last week. The nearly half-acre lot happens to sit right

The pandemic has put outdoor spaces in high demand. Outdoor spaces not only help to protect against transmission and spread of the coronavirus, but being outdoors can boost people’s moods and health overall. Property owners are looking for ways to transform outdoor spaces into sought-after amenities. As a result, water feature design and contractor OTL

As we passed the six-month mark since COVID shut down the economy, commercial real estate transactions are starting to pick up, according to NAIOP’s latest monthly survey of its US members on the impacts of COVID-19. In September, more respondents told NAIOP that they had witnessed more industrial, office and multifamily deals than in the

Morgane Richer La Flèche always made time for art, even when pursuing her law degree. Now the recent Yale Law School grad has more hours than anticipated to spend on her favorite hobby: illustrating. “This was going to be the summer of studying for the New York bar exam, but it got postponed,” Richer La

The Los Feliz Murder House, a landmark for L.A.-based true-crime aficionados, is in escrow yet again! For those who don’t follow such things, the property is one of the city’s most notorious homicide sites, ranking up there with Nicole Brown Simpson’s Brentwood condo and the patch of grass in Leimert Park where the Black Dahlia’s

Welltower has sold three healthcare real estate portfolios with a combined valuation of $1.3 billion. In mid-September, the REIT closed on the sale of one senior housing portfolio for $702 million, representing a 5.1% cap rate on March TTM NOI (with average portfolio occupancy during that time of 96%) and 3.6% on August annualized NOI

“Technology is powering modern leasing—remote, effective leasing is just not possible without it,” Stacy Holden from AppFolio said when discussing how apartment owners can fill vacancies faster. Today more than ever before, technology is becoming the key to both quickly and safely drive leasing in apartment properties. “Rental property owners and managers should make the

And you thought your home-schooled rugrat was a terror. The Bernal family was excited to move into a Canoga Park, California, home 19 years ago. But not too long after getting settled, they started to feel a dark presence. It turns out 10-year-old child star Judith Barsi was brutally murdered by her father, Jozsef Barsi,

You probably read over the last six months about a looming evictions crisis of historic scale. It’s been described as a “tsunami” and an “avalanche.” Some forecasters predicted as many to 30 to 40 million renters could be evicted. What happened? Not much—and that’s wonderful news. Americans will likely experience a record low number of

Hong Kong-based gaming tycoon turned Hollywood film financier Chris Parker has sold his Bel Air mansion in an off-market deal, property records reveal. The AsianLogic co-founder’s big real estate gamble paid off — the $26 million sale price is a full 40% more than the $18.5 million he paid for the estate in 2014. Records

Conventional wisdom would dictate that in times of economic turbulence, a retail landlord might prefer to have an anchor tenant that offers essential services, like a grocery store. But one observer thinks that during the COVID-19 crisis, non-anchored retail has done better than anchored at adapting to an uncertain environment. Brian Capstick, EVP of Operations

JRK Property Holdings began what will be a busy month with the acquisition of Cadence at Crown, a 538-unit apartment complex in Gaithersburg, MD.   This month the Los Angeles-based firm is planning to make a series of acquisitions and dispositions, totaling nearly $1.6 billion. These transactions are expected to close by year-end. From March into

Just as the downtown office market is starting to look challenging, change is coming to 80 Pine St., the full-block, 1.2 million square-foot office tower developed by the Rudin family that opened in 1960. Faced with upcoming lease expirations that will leave 800,000 square feet vacant, including by AIG late next year, the Rudins have

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Apartment leasing appears to be on the rebound.  The indicator showed signs of improvement in the third quarter, according to a new report from RealPage, and other recent data also showed healthy activity in the space, possibly pointing up the beginnings of recovery for the second half of 2020. Greg Willett, chief economist at the

From grit to glitz. They’ve come a long way since playing L.A.’s down-and-dirty ’70s punk scene. In fact, the famously fancy Hamptons community is about as far removed from the crust and grime of early punk as you can get. Nevertheless, that’s where Chad Smith is beating his own path to real estate riches; the

For a long time, it has been hip to turn old warehouses and factories into condos and apartments in many parts of the country. With the housing crunch in many urban areas, like the outer boroughs of New York and northern New Jersey, these residential uses made perfect sense. But Ken Colao, a principal at

This just-listed 10,300-square-foot home is big enough for you and your motley crew. Nikki Sixx, the co-founder and bass player of metal band Mötley Crüe, is looking for someone else to take on this five-bedroom, six-bathroom Los Angeles-area spread. Far from a song, the property, which Sixx listed on Thursday, asks $5.69 million. Sixx has

According to a new report from Building Engines, 89% of property owners believe that technology is shaping the commercial real estate industry, and 84% of owners believe that technology can help the business meet all operational goals. Though in the past, technology advancements within commercial real estate have transpired slower when compared to other industries,

A golden opportunity has arisen for the discerning, well-heeled buyer looking for a quiet home on the range that’s also commuting distance to Los Angeles. Jack Giarraputo, veteran film exec and Adam Sandler’s producing partner at Happy Madison, has hoisted a monumental Malibu property onto the market, where it’s saddled with a $31.5 million pricetag.

As retailers’ Paycheck Protection Program funds are running out, Luis Martinez-Monfort, founding partner of law firm Gardner Brewer Martinez-Monfort, expects to see more of them telling their landlord that they’re unable to pay rent. “I feel like PPP has just been a band-aid over the wound, and it’s just going to rip off pretty soon,”

Hip-hop star Pharrell Williams has just unloaded his uber-contemporary glass-covered mansion in Beverly Hills, California, for an eight-figure sum. The property, which drew less-than-favorable comparisons to an office building when it first emerged on the market in March, sold Tuesday for $14 million, according to listing records. Despite the payday, Williams, 47, is taking a