Ethan Penner, the pioneer of commercial mortgage-backed securities, has all but declared he was running for governor of the Golden State. The nonpartisan CEO of Calabasas-based Mosaic Real Estate Investments took aim at Gov. Gavin Newsom while outlining a collaborative approach to addressing the dichotomy of California as the state

A low-rise office building next to Newport Beach’s swanky Fashion Island mall just sold for $11.5 million, fetching $756 per square foot. A local private partnership offloaded Olen Pacific Plaza, located at 1303 Avocado Avenue, with the help of brokers at CBRE, the Orange County Business Journal reported.  The two-floor,

As offices empty out in Downtown Los Angeles, renters have filled up Downtown apartments and put upward pressure on rents. Multifamily occupancy rose to 90.8 percent in the first quarter ending in March, from 90.1 percent a year earlier and up from 84.7 percent in 2019, Bisnow reported, citing figures

Hines has beat back a second appeal trying to block a 13-story office building, winning a final go-ahead in Downtown Los Angeles. The Houston-based developer was approved by the City Council, which denied a labor-backed appeal against the 435,000-square-foot tower at 2045 East Violet Street, in the Arts District, Urbanize

Unfinished construction didn’t deter a buyer from going into contract on a $31.5 million Bel-Air estate that’s expected to be valued for millions more once work is completed. The property at 1341 Linda Flora Drive marked last week’s top home in Los Angeles County to go into contract based on

Damavandi Capital is going bigger than originally planned for its latest multifamily development in Santa Monica.  The West Hollywood-based firm, formerly known as Dylan Investment Properties, has filed revised plans to boost the size of its apartment building by nearly 50 percent at 1320 Pico Boulevard, west of Santa Monica

The Los Angeles City Council will hold a final vote on a proposal to increase minimum wage for hospitality workers to $30 an hour by 2028 on Friday, May 23. If it passes, which most expect it will, and Mayor Karen Bass signs it, distressed hotel sales and skittish investors

The 2023 collapse of the Skid Row Housing Trust — which provided permanent single-room occupancy housing services to low-income people in the Skid Row area in Los Angeles — is under the magnifying glass in a damning new consultant report.  Low and inconsistent rental subsidies and other structural issues in

Nearly five months after the Eaton fire killed 18 people — 17 of them in west Altadena — investigations continue into what went wrong. Mounting evidence suggests that human error, rather than a technical malfunction, was at the heart of the failure to issue timely evacuation alerts on Jan. 7

It wasn’t enough for State Farm General to win approval to hike homeowner rates by 17 percent this month. Now the insurer wants to jack up rates by another 13 percent. The unit of Illinois-based State Farm Mutual Automobile Insurance seeks a 30 percent increase in home insurance premiums because