Real Estate
LTC Properties Closes Lease, Sale Transactions
Westlake Village-based LTC Properties Inc., a real estate investment trust that invests in senior housing and health care properties, has completed modifications of its 35-property Brookdale Senior Living Inc. portfolio – a series of transactions that have resulted in the net proceeds of $23 million and an anticipated net gain of $17 million related to […]
Marcus & Millichap Invests in Tech Platform
Marcus & Millichap has made an equity investment in the New York-based real estate investment tech platform EquityMultiple. While its exact stake in the platform remains undisclosed, the firm said this partnership, which was initiated last month, allows sponsors and operators to connect with supplemental sources of private capital. “Our investment into EquityMultiple allows Marcus & Millichap […]
Front Porch Gets Stellar Agency News
Glendale-based senior and affordable housing nonprofit Front Porch Communities and Services has received strong financial ratings from two credit rating agencies. Both Fitch Ratings and Standard and Poor last month gave the large senior housing organization A ratings with a stable outlook, as well as an A- rating on bonds issued on behalf of Front […]
Ventura Buys Building for Fire Agency
Ventura County has purchased a vacant 99,000-square-foot commercial office building located in Thousand Oaks, which it plans to use as its fire department administrative headquarters. Newmark Group Inc. arranged the sale. The county acquired the low-rise building, known as 2400 Conejo Spectrum, from an undisclosed seller. The purchase price was $14.9 million. “The sale of […]
Multifamily Assets Sell for a Combined $171M
Two multifamily complexes – Los Robles Apartments, a 253-unit asset built in 1972, and The Retreat at Thousand Oaks, a 146-unit property constructed in 1966 – recently traded hands in Thousand Oaks for a combined $171 million. Institutional Property Advisors, a division of Calabasas-based Marcus & Millichap, brokered the Ventura Country multifamily portfolio sale. Agents […]
172,000 SF: Retail Center Trades Hands
Calabasas-based NewMark Merrill Cos. Inc. has acquired a 172,000-square-foot retail shopping center in Thousand Oaks. NewMark Merrill purchased the asset, which it renamed The Collection at Janss Marketplace, from Seritage Retail Group. It is adjacent to Janss Marketplace, a 458,000-square-foot shopping center that Newmark Merrill also owns. The company is now responsible for the oversight […]
Shopping Spree: Local Malls Ready for Holiday Shoppers
Shopping malls across the nation continue to make strides in their recovery from 2020, when the pandemic all but shut them down in many cases. That includes such malls as Topanga Village, which anchors a major corner of the Warner Center in Woodland Hills. The open-air mall, which was completed in 2015 and acquired last […]
Industrial Building Starts Leasing
A Class A, 75,000-square-foot, multi-building industrial project known as 101 Logistics Center located in Oxnard is fully entitled and ready for leasing. “We are beyond excited about 101 Logistics Center becoming a reality,” said Scott Sowanick, managing director and partner at Stream Realty Partners, the developer of the property which purchased the 41-acre site in […]
Brokerage Partners with Archer
Calabasas-based commercial real estate brokerage firm Marcus & Millichap Inc. has partnered with San Francisco-based real estate technology company Archer to advance itself within the property technology sphere. The terms of the partnership were not disclosed. “Our relationship with Archer is one of the ways we continue to stay on the leading edge within the […]
Hotels Face Increased Regulations
Hotel operators in the city of Los Angeles may not be pleased about a new requirement that they get a police permit, but several expressed relief that they apparently will not be required to house the homeless as the result of a Los Angeles City Council decision last week. “We are a family hotel next […]