Los Angeles Warket Watch - Commercial Real Estate Brokerage

DAVID BRAMANTE

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MARCUS & MILLICHAP REAL ESTATE INVESTMENT SERVICES

Los Angeles MarketWatch
Week Ending October 2, 2009

$1 million going further in many housing markets
Saturday September 26, 2009 11:25 PM
By ADRIAN SAINZ AP Real Estate Writer A million dollars doesn't buy you what it once did. In most U.S. neighborhoods, it now gets you a lot more. During the housing boom, prices rose so high and so fast that even cookie-cutter homes in the paved suburbs of South Florida and California could cost a cool million. In Santa Clara, Calif., a ...
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Pace of U.S. home price declines slows in July, index shows
Wednesday September 30, 2009 01:17 PM
Pace of U.S. home price declines slows in July, index shows The drop eases to 13.3% in July compared with 15.4% in June, suggesting the housing market is approaching its bottom. In L.A. and Orange County, July prices were down 14.9% from the previous year. Builder Jean Gagnon cuts siding panels while completing a new home in Derry, N.H. A 20-city index of home prices is at levels last ...
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Housing market continues stabilization
Tuesday September 29, 2009 03:46 AM
San Fernando Valley home prices showed more signs of stabilization in August and annualized sales increased for the 14th consecutive month, a trade association said Monday. The median price of a previously owned house slipped 8.5 percent last month to $389,000, from $425,000 a year earlier, said the Van Nuys-based Southland Regional Association of Realtors. It is the second consecutive ...
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Jobless rates drop in most metro areas in August
Wednesday September 30, 2009 01:22 PM
WASHINGTON (AP) -- The unemployment rate fell in about 60 percent of metropolitan areas in August from the previous month, as layoffs eased nationwide. An Associated Press analysis of Labor Department data found that the jobless rate dropped in 232 of 380 metro areas. That's an improvement from July, when metro areas were split between those with rising and falling joblessness. It's much better ...
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Consumer spending jumps 1.3% in August
Thursday October 01, 2009 10:43 AM
WASHINGTON -- Consumer spending, propelled by the wildly popular Cash for Clunkers auto sales program, shot up in August by the largest amount in nearly eight years even though personal incomes continued to lag. The Commerce Department said Thursday that consumer spending rose 1.3 percent in August, even better than the 1.1 percent gain that had been expected. Incomes, the fuel for future ...
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Investors Eye Apartments, Distressed Properties
Wednesday September 30, 2009 04:42 PM
Apartments remain the favored property type among risk-averse investors. Nearly half of respondents (46%) to a quarterly survey conducted by National Real Estate Investor, Retail Traffic and Marcus & Millichap Real Estate Investment Services indicate that now is the time to buy apartments, up from 38% in the second quarter. Demand for apartments is even stronger among respondents who are ...

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$52M Office Sale Tops L.A. County Deals
Sunday September 27, 2009 01:05 PM
PASADENA, CA-Grosvenor Americas has sold its 203,911-square-foot 2 N. Lake Ave. office tower to a private buyer based in the San Gabriel Valley city of Arcadia in a transaction that ranks as the largest brokered office deal in L.A. County this year and one of the largest in Southern California.
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Entrada Wins 1,900-Unit Management Assignment
Sunday September 27, 2009 01:05 PM
LOS ANGELES-Entrada Partners has been awarded an assignment to provide multifamily asset management services to the real estate division of a $25 billion global private equity firm. Entrada co-founder Reuben Berman tells GlobeSt.com that Entrada, which he and fellow industry veteran Justin Schuman founded early this year, will be helping to oversee a portfolio of approximately 1,900 apartment ...
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Energy Plans Help Projects Secure Loans
Sunday September 27, 2009 01:05 PM
EL SEGUNDO, CA-Two California real estate projects have landed $7 million in financing from a new SBA loan program that doubles the allowable loan limit for borrowers who reduce energy consumption, according to locally based Partner Energy, which acted as an adviser to the borrowers. Tony Liou, president of Partner Energy, explains that the SBA has amended its 504 loan program so that borrowers ...
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Italian Manufacturer To Anchor CleanTech Center
Monday September 28, 2009 07:06 AM
LOS ANGELES-Rail car maker AnsaldoBreda plans to set-up operations in Los Angeles at the CRA/LA's CleanTech Manufacturing Center in the Downtown industrial core, according to the Community Redevelopment Agency of the City of Los Angeles (CRA/LA). The CRA says that the manufacturer "will bring a new, sustainable facility and nearly 1,000 middle-class jobs, as a result of Metro (Los Angeles County ...
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Colony Financial Prices Shares of $255M IPO
Sunday September 27, 2009 01:05 PM
CENTURY CITY, CA-Colony Financial Inc. has set the stock price at $20 per share for the IPO of a new REIT that will buy distressed assets, including performing and nonperforming loans. The previously announced REIT, which will be managed by a subsidiary of Thomas Barrack Jr.'s Colony Capital, anticipates gross proceeds of $255 million, assuming that underwriters do not exercise their ...
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Equity Residential Sells 220 Units for $37M
Sunday September 27, 2009 01:05 PM
SAN PEDRO, CA-Equity Residential has sold its 220-unit Harbor View and Bay Ridge apartment complexes here for $37.25 million, according to Marcus & Millichap, which brokered the sale. The price paid for the two complexes works out to $168.74 per square foot and represents a cap rate of approximately 7% based on today's asking rents. Equity, a Chicago-based apartment REIT, was represented in the ...
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Four Office Tenants Sign for 104,000 SF
Sunday September 27, 2009 01:05 PM
THOUSAND OAKS, CA-Office tenants have signed new leases for more than 104,000 square feet of space in recent transactions here and in Los Angeles, according to principals and brokers in the leases. The largest of the four deals is a 58,751-square-foot lease by State Farm Mutual Automobile Insurance Co. at Kennedy Wilson's Oaks at Westlake project. The others include a deal for 24,282 square feet ...
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Behringer Buys N. Hollywood Apt. Complex for $96M
Tuesday September 29, 2009 03:46 PM
Behringer Harvard acquired a 438-unit apartment building at 5416 N. Fairview Ave. in North Hollywood, CA, from Fairfield Properties LP for $96 million, or $219,178 per unit. Built in 2006, the four-story property totals 690,600-square-feet on a 6.58-acre lot. The unit mix is split evenly with 146 one-bedroom/one-bathroom units, 146 two-bedrooms/two-bathrooms units and 146 ...
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Upgraded 112-Unit Complex Sells for $21M
Sunday September 27, 2009 01:05 PM
HOLLYWOOD-Hollywood Place Apartments LLC of Los Angeles has acquired the 112-unit Hollywood Place Apartments at 7400 Hollywood Blvd. for $21.3 million in what is called the largest multifamily deal in Hollywood this year.
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73,000-SF RiverPark Gateway Debuts
Wednesday September 30, 2009 07:17 AM
OXNARD, CA-The RiverPark Gateway development of 73,472 square feet of freestanding office, medical office buildings and condominiums for sale or lease is set to debut today with a grand opening.
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Singpoli Invests $52 Million in Pasadena Assets
Tuesday September 29, 2009 06:51 PM
In one of the Los Angeles area's largest deals of the year, Singpoli, an architecture and construction company based in Arcadia, CA, acquired a mixed group of office and retail buildings in Pasadena from Grosvenor, a global investment firm, for $52 million. The deal includes 2 N. Lake Ave., a 203,911-square-foot, Class A office building with an Energy Star label plus its 160,883-square foot ...
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Sony Renews at Howard Hughes Center
Tuesday September 29, 2009 06:51 PM
Sony Corp. has extended its 50,435-square-foot lease at 6080 Center Drive in Los Angeles. Equity Office Partners signed the electronics giant to a five-year deal. The 12-story, 315,592-square-foot office building was built in 2001 in the Marina Del Rey/Venice submarket, about five miles north of LAX. It is part of the Howard Hughes Center. Sony operates its Digital Cinema Sales Office out of the ...
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Apartment Experts Assess Market Potential
Tuesday September 29, 2009 07:47 AM
LOS ANGELES-Experts on the local, regional and national apartment markets will zero in on the industry's outlook and offer their assessments of market opportunities in an all-day conference and networking event on Thursday, Oct. 8 at Apartments 2009, an annual event in the RealShare series. The annual gathering of apartment investors, owners, brokers, lenders and others involved in the ...
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DAILY DEALS
Transactions for October 2

DAILY DEALS
Transactions for October 1

DAILY DEALS
Transactions for September 30

DAILY DEALS
Transactions for September 29