Los Angeles CA Real Estate, Homes For Sale

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2011-01-01T22:17:00.000-08:00

Schwarzenegger press releases, photo opportunities before he leaves office

2010-12-31T17:59:00.000-08:00

Soon to be the former California Governor Arnold Schwarzenegger and his collaborators have waged a campaign to greenwash his absymal environmental legacy through a lot of press releases, photo opportunities and media before he leaves office. One of the most shameful examples of these efforts to rewrite history by casting Schwarzenegger in the role of "green governor" is Terry Tamminen's Huffington Post puff piece.

"Raising nearly $144 million from private contributors implies there more than a coincidental link between the campaign contributions, the sale of the property and the windfall profits that have and continued to be realized by the Governor’s supporters," said Porgans. "Critics argue that the sale of the 11 properties, along with the wholesale-General Obligation bond bonanza, which taxpayers are responsible to repay, makes the Bernie Madoff Ponzie scam look like mere child's play."

Those of whom have suffered under Schwarzenegger's war on fish and the environment hope that, contrary to Tamminen's wish that "He'll Be Back," that the "Fish Terminator" will never again play any role in public policy anywhere.
Schwarzenegger's campaign to build a peripheral canal/tunnel, a project projected to cost $23 billion to $53.8 billion, is nothing other than an effort by the outgoing Governor to enrich corporate agribusiness, southern California water privateers and corporate "environmental" NGOs such as the Nature Conservancy at tremendous expense to collapsing Central Valley salmon and Delta fish populations, fishing communities, California Indian Tribes and family farmers.

Natalie Portman new home

2010-12-30T19:35:00.001-08:00

With news that actress Natalie Portman is now engaged and pregnant. Natalie Portman first bought in New York City: The site reports in 2005, Portman bought a 2,500-square-foot condo in the exclusive Richard Meier-designed 176 Perry St. in the West Village for $5.7 million. The exclusive luxury building has reportedly housed such Hollywood heavyweights as Nicole Kidman and Leonardo DiCaprio.

But by 2008, the star decided to move from New York . She put her apartment on the market for $6.5 million and she also put her Long Island home, that she owned for some of years, on the market for $2.2 million.

In early 2009, Portman bought a $3.25 million estate in Los Angeles, according to Real Estalker.com, which she apparently still owns today.

It's a nearly 5,000-square-foot 1930s-style mansion, which boasts thousands of square feet of manicured landscaping. The interiors feature soaring ceilings and plenty of open space.

Just enough room for a growing family, the four-bedroom home has a large pool and a state-of-the-art security system.

2010's Luxury Real Estate Market

2010-12-27T17:53:00.000-08:00

The Los Angeles struggling economy continued to affect Los Angeles real estate prices this year, and the high-end luxury market was no exception. Luxury estates that hit the market in 2010 have undergone big price cuts and fluctuations, with homes in upscale neighborhoods seeing large-scale reductions.

Real estate developer Mohamed Hadid's Bel-Air estate, Le Belvedere, sold at $50 million (the highest-priced sold home this year). The Corona del Mar compound known as Portabello sold for $34.1 million.
Yet, some high-end mansions have managed to sell in this down market.

Los Angeles real estate were the exception in real estate this year. The Los Angeles Times points out that "trophy deals," like the sale of Belvedere and Portabello "are masking a larger malaise in the luxury market," where the majority of luxury estates for sale, "are lingering for months without nibbles from buyers, real estate agents say. And although Southland home prices overall have rebounded from lows hit last year, the luxury market is still trending downward."

State Sell OFF

2010-12-25T19:24:00.001-08:00

The sale of 11 premier state office complexes to a group of politically connected private investors Some critics say will be among the worst deals the state has ever made.

California would pocket about $1.3 billion after debt is paid off, but would then be a tenant in the same buildings.
The deal, which includes the San Francisco Civic Center, has been pitched as a way to generate much-needed cash. According to the nonpartisan Legislative Analyst’s Office, the deal would cost taxpayers $6 billion over 35 years.

Josh Altman

2010-12-24T16:10:00.000-08:00

Josh Altman is the newest member of the MDL cast, and one of the biggest real estate agents in the Beverly Hills and Hollywood Hills luxury housing market. Altman’s high-profile clients are mostly entertainers and athletes from all over the world, who line up for Josh’s “white glove/VIP service.”
In the past year alone, Josh Altman has sold over $38,000,000 in listings, and with another $50,000,000 in current market listings. His most recent sale was in Beverly Park and went for an astonishing $16,500,000–the sixth highest sale in LA County in 2010.
Altman is also in the business of flipping houses, and has successfully flipped over eight of them. He formerly ran a real estate finance company for two years before becoming one of the biggest agents at Hilton and Hyland. Altman also volunteers for and supports a number of charities, and spends his free time either golfing, skiing, or hiking with his two rescue dogs, Diego and Lucky.
Your favorite real estate agents are coming back for a fourth season of Bravo’s Million Dollar Listing And what could be better than another season of high-stakes, Los Angeles real estate drama? A new agent! Keep reading for all the details.
Real estate agents Josh Flagg and Madison Hildebrand are coming back for a fourth season of Million Dollar Listing on Bravo, but this time, they’re being joined by another agent, as they all fight for their share of the slumping market, making the competition even more intense.

MPG Office Trust default

2010-12-23T17:59:00.000-08:00

Troubled real estate firm MPG Office Trust announced it will default on its $470 million mortgage for Downtown’s Two California Plaza.

“The Company would prefer to include Two California Plaza as part of its core set of assets, and expects to have the opportunity to explore various potential options for doing so once the asset is transferred into special servicing.” MPG Office Trust, formerly known as Maguire Properties, is the largest upscale office landlord in Downtown, with holdings that include US Bank Tower and Wells Fargo Tower. The company has already sought to rid itself of a group of Orange County properties that it acquired at the height of the market.
The company, which recently saw a change at the top with the resignation of Nelson Rising, said the move is the first step required toward restructuring the loan as it seeks to work with lenders to reduce and manage its obligations. The 54-story 1.3-million-square-foot property at 350 S. Grand Ave. is financed with commercial mortgage-backed securities debt, so the company must send a notice of default to begin any discussions about loan modification. “Two California Plaza is a key asset that is materially overleveraged,” MPG President and CEO David L. Weinstein said in a statement.

EPA to tighten drinking water standards

2010-12-22T19:15:00.000-08:00

The head of the U.S. Environmental Protection Agency said Wednesday it would likely tighten drinking water standards to address potential health risks of a carcinogen recently detected in the tap water of 31 LOS ANGELES cities across the country.

Hudson Pacific Properties Acquires 10950 Washington Blvd

2010-12-22T16:04:00.001-08:00

(NYSE:HPP) Hudson Pacific Properties has completed the $46 million acquisition of 10950 Washington Blvd. in Culver City, Calif. from an affiliate of Embarcadero Capital Partners LLC. Located in one of West Los Angeles’ premier entertainment business districts, the 158,873 sq foot office property is 99.5 percent leased, with an average lease term of five years. The $46 million acquisition includes the assumption of an existing $30 million loan.

Hudson Pacific Properties is on a 5.5 acres, the property consists of an 86,987-square-foot, three-story office building and a 71,886-square-foot building containing office space, two sound stages and a café. NFL Enterprises is a major tenant occupying 95,570 square feet consisting of office space and the two sound stages used exclusively to broadcast the company’s NFL Network.

"Our team has worked extensively as an owner and operator of premier office properties in the Los Angeles area, and the region is one of our top targets for continued expansion. We have considerable experience with media companies, such as NFL Enterprises, and tailor our property operations to meet their specific needs. This acquisition is an ideal fit as we grow our portfolio of top-quality office properties in the greater Los Angeles area and continue to build our position as an owner and operator of assets with strong interest from media, entertainment and technology tenants," said Victor J. Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties.

Bob Safai of Madison Partners advised Hudson Pacific Properties on this transaction, which was completed directly with the seller.

The acquisition is Hudson Pacific’s third in this market since going public in June, bringing the company’s Los Angeles area portfolio to approximately 1.5 million square feet. In August, it acquired both the six-story, 58,484-square-foot 9300 Wilshire office building in Beverly Hills, Calif. and the five-story, 113,000-square-foot Del Amo Office building in Torrance, Calif.

Brookstone Law, PC, Predicts More Foreclosures in 2011

2010-12-22T01:41:00.001-08:00

Brookstone is involved in active investigations of the banking crisis including cases throughout the nation where clients are taking the banks to task for unlawful lending practices including robo-signing.

Despite a significant reduction in the number of foreclosures in November that was the biggest decline ever recorded, a new wave of foreclosures in 2011 is predicted by Brookstone Law, PC.

Brookstone and industry experts, including RealtyTrac, the Irvine, Ca.-based online foreclosure marketer, attribute the November decline to fallout from the robo-signing controversy and discount economic factors as a major factor in the drop. While December will show a continued decline in foreclosures, they predict it will be followed by an acceleration of activity in the first quarter of 2011 as the robo-signing controversy is addressed.

Many foreclosures are being challenged in court because of allegations that banks evicted people without reading the documents.
Robo-signing exposed sloppy industry practices that critics charged violated state laws and regulations throughout the nation. Some lenders recently froze the foreclosure process for all their loans until they could check whether their procedures were flawed and make any needed corrections. The moratoriums forced lenders and servicers to delay many foreclosures while they revised procedures surrounding questionable paperwork.

"We would prefer that the November decline was good news but it's not - it's an artificial drop that for most borrowers in foreclosure will not even achieve a temporary reprieve for them," said Vito Torchia, Jr., managing attorney of Brookstone Law. "Robo-signing is a huge problem and as banks, lenders and the courts address it, we predict there will be a return to aggressive foreclosures by banks and lenders in the first quarter of 2011."

Banks seized more than 816,000 homes through the first nine months of 2010 and are on pace to seize 1.2 million by the end of the year. Lenders seized more U.S. homes this past summer than in any three-month stretch since 2006.

“It is no coincidence that states where courts are involved in foreclosures and banks are faced with scrutiny of their foreclosure practices that filings dropped substantially compared to states where courts do not usually participate in foreclosure actions. There were nearly five times fewer auctions in judicial states, compared with non-judicial states,” said Torchia. “But that will change in 2011 as banks have already begun restarting the foreclosure process, as evidenced Bank of America's announcement last week that it was phasing out its moratorium.”

CityView Promotes Boris Sturman to be Vice President of Finance

2010-12-22T00:38:00.001-08:00

CityView los angeles, an institutional investment firm focused on urban real estate, in-city housing, and metropolitan infrastructure, has announced the promotion of Boris Sturman to Vice President of Finance. In this role he is responsible for managing lender relationships for all of CityView's project and subscription debt. He will have added responsibilities for risk management and surety instruments.

"Excellent lender relationships are critical to a real estate investment firm. Boris has earned the respect of CityView's lenders and he will be key to building on those relationships for future firm growth," said Sean Burton, CEO of CityView. Since joining the company, Mr. Sturman has negotiated, placed, and restructured loans with aggregate commitments in excess of $1 billion.

Irvine Company Announces Acquisition of Hyatt Center Office Tower

2010-12-22T00:12:00.001-08:00

The Irvine los angeles Company today announced that it has acquired Hyatt Center, an award-winning 48-story, 1.5 million square foot office property located at 71 South Wacker Drive, the most sought-after location at the intersections of Wacker Drive with Monroe Street and Franklin Street in the West Loop sub-market of Chicago’s premier Central Business District. Designed by renowned architect Henry Cobb of Pei Cobb Freed & Partners, the office building was completed in 2005. Hyatt Center offers a distinctive and elegant elliptical design, which provides tenants with maximized setbacks and more expansive views than a conventional skyscraper. Additional amenities include a restaurant, two restaurant-quality tenant cafeterias, fitness and conference centers and a concierge service.

The los angeles project is leased to tenants who represent some of the most prestigious hospitality, legal, financial services and technology companies in the country, including The World Headquarters for Hyatt Hotels and law firm Mayer Brown, LLP, as well as regional offices for Citizen, RBS, Goldman Sachs, and IBM. The Tower is also home to several leading professional services companies including Towers Watson, one of the world’s preeminent management consulting firms. In addition, Hyatt Center is a leader in environmentally friendly technologies, as evidenced by the property’s recent certification as the first ever LEED Platinum, the highest environmental recognition of its kind.

West Covina woman admits to $7 million Ponzi scheme

2010-12-21T22:33:00.001-08:00

A West Covina woman went before a Los Angeles federal judge today and admitted running a Ponzi scheme that bilked more than 150 victims out of nearly $7 million.

Guadalupe Valencia, 46, pleaded guilty to two counts each of mail fraud, wire fraud and tax fraud before U.S. District Judge S. James Otero, who immediately ordered her taken into custody, according to the U.S. Attorney's Office.

Valencia ran her scheme out of the Downey offices of companies she called Real Estate & Loan Consultants and R.E. Equity Group, Inc., court papers show.

Beginning in 2001 and continuing through 2009, Valencia promoted two types of investment pools, with one purportedly funding loans to purchase real estate, and a second purporting to fund short-term loans to businesses.

Valencia admitted that she falsely told investors that their investments were fully secured, backed by deeds of trust on valuable real estate, as well as promissory notes that equaled "money-back guarantees," according to the U.S. Attorney's Office.

According to her plea agreement, Valencia promised high rates of interest in both investment vehicles from 8 percent to 20 percent in as little as 45 days.

Valencia admitted that the investments she promoted did not generate any profits and that she used newer investor funds to pay original investors. She also conceded that she had provided victims with worthless promissory notes that she created.

Partners Real Estate Investment Trust Files Final Forecast

2010-12-21T22:17:00.000-08:00

Partners Real Estate Investment Trust ("Partners REIT" or the "Trust") announced that it has filed a final prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with its previously announced offering of units. The offering is for 4,680,000 los angeles units, at a price of $1.60 per unit, for aggregate gross proceeds of $7,488,000. The estimated net proceeds of the offering to the los angeles Trust (before deducting expenses of the offering) will be $7,038,720. Partners REIT expects that the offering will close on or about December 30, 2010.

TD Securities Inc. and CIBC World Markets Inc. are acting as co-lead managers, along with a syndicate of co-managers including, National Bank Financial Inc., Scotia Capital Inc., Canaccord Genuity Corp., Dundee Securities Corporation and Macquarie Capital Markets Canada Ltd. (collectively, the "Underwriters").

The Trust has also granted to the Underwriters an option (the "Over-Allotment Option") to purchase up to an additional 468,000 units at a price of $1.60 per unit on the same terms and conditions as the offering, exercisable in whole or in part from time to time up to the 30th day following the closing of the offering. If the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the offering will be $8,236,800 and the estimated net proceeds to the Trust (before deducting expenses of the offering) will be $7,742,592.

The net proceeds of the offering will be used to finance possible future property acquisitions and for general trust purposes.

Texas firm buying Union Station

2010-12-21T22:11:00.000-08:00

Union Station in Los Angeles is being sold to a Texas investment firm as part of a $505-million agreement announced Tuesday to purchase real estate assets from ProLogis, the world's largest warehouse company.

As part of the deal, TPG said it was acquiring four shopping centers, two office buildings, 11 mixed-use projects and two residential development joint ventures.

The properties are being sold to TPG Capital, formerly known as Texas Pacific Group, a global private investment firm headquartered in Fort Worth, with more than $47 billion in assets under management.

29 Palms Twenty Nine Palms

2010-08-06T15:00:00.003-07:00

2010-08-06T15:00:00.001-07:00

Adelanto

2010-08-06T14:59:00.005-07:00

2010-08-06T14:59:00.003-07:00

Agoura Hills

2010-08-06T14:59:00.001-07:00

Agoura Hills is approximately 30 miles northwest of Downtown Los Angeles and less than 10 miles west of the Los Angeles City limits (Woodland Hills). Agoura Hills and unincorporated Agoura are also situated next to Calabasas, Malibu, Oak Park, and Westlake Village.
Agoura Hills is a city in Los Angeles County, California, and has the ZIP code 91301. Agoura Hills population was 20,537 at the 2000 census. Agoura Hills is located in the eastern Conejo Valley between the Simi Hills and the Santa Monica Mountains. This city on the Ventura Freeway (U.S. Route 101) straddles the border between the county of Los Angeles to the east, west and south and Ventura County to the north.

Agua Dulce

2010-08-06T14:58:00.007-07:00

Aguanga

2010-08-06T14:58:00.005-07:00

2010-08-06T14:58:00.003-07:00

Aliso Viejo

2010-08-06T14:58:00.001-07:00

Alpine

2010-08-06T14:57:00.007-07:00