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Alcion Ventures, Genton Property Group Receive $239M to Develop Four Seasons Private Residences in LA

LOS ANGELES — A joint venture between Alcion Ventures and Genton Property Group has received $239 million in financing to develop the Four Seasons Private Residences Los Angeles. Construction has already begun for the luxury project, which features 59 for-sale units. It is scheduled for completion in mid-2019. The Four Seasons Private Residences will be situated across from the Four Seasons Los Angeles at Beverly Hills, near the intersection of Third Street and Wetherly Drive. The..

May 31, 2017

Rescore Property Corp. Receives $100M in Construction Financing for 368-Unit Apartment Building in Hollywood

LOS ANGELES — Rescore Property Corp. has received a $100 million construction loan to develop The Rise Hollywood, a 368-unit apartment complex in Hollywood. The seven-story community will be located at 1331 N. Cahuenga Blvd. The units will feature nine-foot ceilings, wood flooring, stainless steel appliances, quartz countertops, balconies and walk-in closets. Community amenities include a pool, fitness center, yoga room, club room and dog run. The Rise Hollywood is situated near Amoeba..

May 17, 2017

Ellis Partners Breaks Ground on Renovation of Pruneyard Mixed-Use Center in Silicon Valley

CAMPBELL, CALIF. — Ellis Partners has broken ground on the multi-phased renovation of The Pruneyard, a 27-acre mixed-use shopping center in the Silicon Valley city of Campbell. The Pruneyard contains 365,000 square feet of Class A office space, 253,000 square feet of retail and restaurants, and a 170-room Doubletree Hotel. The infill project has not been updated for nearly 20 years. It is located at 1875. S. Bascom Road in the West Valley community. Ellis Partners purchased The Pruneyard..

January 18, 2017

Kilroy Realty Corp. Buys The Sunset Mixed-Use Project in West Hollywood for $210M

LOS ANGELES — Kilroy Realty Corp. has purchased The Sunset, a 179,000-square-foot mixed-use development in the West Hollywood submarket of Los Angeles, for $210 million. The property is located at 8560-8590 Sunset Blvd. on the famous Sunset Strip. The seller, Broadreach Capital Partners, acquired the asset from Apollo Real Estate in 2006 for $105 million. The Sunset occupies 2.2 acres along Sunset Boulevard. It features a 72,000-square-foot office tower and a three-building retail..

January 11, 2017

Quality Care Properties Goes Public

IRVINE, CALIF. — Quality Care Properties, the spinoff of HCP’s ManorCare skilled nursing portfolio, has begun trading on the New York Stock Exchange under the symbol QCP WI. QCP is now a completely separate company from HCP (NYSE: HCP), one of the largest seniors housing REITs in the United States. QCP is also classified as a REIT following the spinoff. HCP common stockholders received one share of QCP common stock for every five shares of HCP common stock they held on October 24...

November 2, 2016

Carter Validus Mission Critical REIT II Acquires AT&T Data Center Near Los Angeles for $79.5M

HAWTHORNE, CALIF. — Carter Validus Mission Critical REIT II Inc. (CVMC REIT II) has acquired the 288,000-square-foot AT&T Hawthorne Data Center in the Los Angeles suburb of Hawthorne for $79.5 million. CVMC REIT II, a non-traded REIT headquartered in Tampa, Fla., will assume the existing net lease with AT&T Corp. as part of the transaction. The previous owner was Israel-based Red Sea Group. The one-story, powered shell data center is located on a 15.9-acre site and includes an..

October 19, 2016

European Investor Buys Iconic Tiffany Building in San Francisco for $135M

SAN FRANCISCO — A European investor has purchased the iconic Tiffany & Co. building in San Francisco. The 11-story property is located at 360 Post St. on Union Square. The San Francisco Business Times reported the purchase price at approximately $135 million, or $1,400 per square foot. The 96,882-square-foot building features luxury retail and office space, including 75 feet of prime retail frontage on Post Street. The sellers, Greenstone Realty Advisors LLC and 360 Post LP, acquired..

September 26, 2016

Marin County Breaks Ground on $535M Marin General Hospital Replacement Near San Francisco

SAN RAFAEL, CALIF. — Marin County officials have broken ground on MGH 2.0, the $535 million replacement for Marin General Hospital in the Greenbrae submarket of San Rafael, just across the Golden Gate Bridge from San Francisco. The original hospital opened in 1952. It will continue to operate throughout the construction process. Phase I of MGH 2.0 will include two new towers that house 114 private rooms, an expanded emergency department and six new operating/procedural suites. The..

August 1, 2016

ThrillCorp SkySpire Tower to Anchor $1.2B Redevelopment of Downtown Site in San Diego

SAN DIEGO — The San Diego Port Authority Commission has selected a $1.2 billion project proposal to transform 70 acres of downtown San Diego’s waterfront. ThrillCorp Inc. will develop a 480-foot observation tower, to be known as SkySpire, which will anchor the development. ThrillCorp is a partner in a consortium called 1HWY1, which is led by Protea Waterfront Development. In addition to the SkySpire, the $1.2 billion redevelopment proposal includes the 178,500-square-foot OdySea..

July 20, 2016

Next Century Partners Receives $1B in Construction Financing for Century Plaza Mixed-Use Project in Los Angeles

LOS ANGELES — Next Century Partners has received $1 billion in construction financing for the Century Plaza mixed-use project in Los Angeles. The $2.5 billion project will include two residential towers, restaurants and retail shops. The existing, five-star Century Plaza Hotel on the site will also undergo a renovation. The project is located at 2025 Avenue of the Stars in the Century City submarket. Construction is scheduled to commence later this summer. The hotel closed for renovations..

July 11, 2016