MARKET NEWS
Bill would return Manhattan Beach land seized from Black couple century ago
The Real Deal Los Angeles
Nearly 100 years ago, Manhattan Beach city officials seized land from a Black couple who operated it as a beachside resort for Black families barred from public beaches and other businesses. Now, a state bill seeks to return that land to family descendants of the wife and husband, Willa and Charles Bruce, according to the Los Angeles Times. The property, which L.A. County controls, could be worth $75 million, CNN reported. State Sen. Steven Bradford ... The post Bill would return Manhatta ...
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Major office complex proposed for Arts District
The Real Deal Los Angeles
Hines and Len Blavatnik’s Access Industries are looking to build a 470,000-square-foot office and retail buildings in the Arts District, one of the larger office projects proposed since the pandemic. Plans filed with the city call for a 13-story building at 2045 E. Violet Street, with 450,000 square feet of office space above about 18,000 square feet of retail, according to Urbanize. The building would rise next door to the renovated Ford Factory building. Access ... The post Major offi ...
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US needs 4M homes to meet demand from buyers
The Real Deal Los Angeles
The U.S. is facing an unprecedented housing shortage — one that’s creating problems for millennials. The housing market needs 3.8 million single-family homes to meet current demand, according to an analysis by Freddie Mac, first reported by the Wall Street Journal. That’s 52 percent higher than 2018, when the mortgage company first began looking at housing shortages. While the shortage was exacerbated by pandemic-related moratoriums and investors turning starter homes into single-family re ...
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Struggling hotel company handing Brookfield the keys
The Real Deal Los Angeles
Out of options, a struggling hospitality trust is handing over its control to Brookfield Asset Management through the bankruptcy process. Hospitality Investors Trust is negotiating a deal that would give Brookfield financial control over its 100 hotels as part of a possible Chapter 11 filing, Bloomberg News reported. The trust doesn’t have enough cash to fund its duties, and Brookfield, its largest investor, might be its only source of additional liquidity, the publication reported. The ... [m ...
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CoStar to buy Homes.com for $156M
The Real Deal Los Angeles
CoStar Group is edging further into the world of residential real estate with its latest acquisition. The data giant announced Wednesday it had reached an agreement to buy residential listing platform Homes.com for $156 million in cash. Homes.com platform claims to have more than 1.8 million listings with feeds from 90 percent of the Multiple Listing Services across the country. Pending a regulatory review, the transaction is expected to close by the end of June ... The post CoStar to buy ...
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'Scream' creator Kevin Williamson sells Windsor Square estate for $9.4 million
Real Estate
After buying a Beverly Hills mansion, prolific screenwriter Kevin Williamson has sold his Cape Cod-style home in Windsor Square for $9.415 million.
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