PennyMac Mortgage Investment Trust, a real estate investment trust based in the city of Moorpark, have entered into an agreement with Bank of America to fund approximately $550 million in new mortgages. A real estate investment trust is a type of company, usually with many investors, that typically owns and operates a portfolio of income-producing
Overton Moore Properties (OMP) has purchased a near eight-acre entitled land site located in the San Fernando Valley from United Technology Corp. The site is located at in the Southeast corner of De Soto Avenue and Nordhoff Street in the San Fernando Valley. The land is zoned for retail and industrial uses. Timur Tecimer, CEO
FM Enterprises of Sherman Oaks has announced the purchase of a 53,000 square foot LA Fitness branch in Van Nuys located at 6161 N. Sepulveda Blvd. This is seen as a long term investment for FM, as LA Fitness is tied to a 20 year lease at this complex’s location. Frank Mushmel, principal at FM
Somewhat surprisingly, Los Angeles has emerged as a city that is ready to embrace walkability going forward. A report titled “Foot Traffic Ahead: Ranking Walkable Urbanism in America’s Largest Metros” by the Center for Real Estate and Urban Analysis at George Washington University School of Business along with LOCUS: Responsible Real Estate Developers and Investors
The Woodland Hills Warner Center Neighborhood Council announced the approval of its first development under the Warner Center 2035 Specific Plan. The developer, Associated Estates of Richmond Heights, Ohio, has proposed a mixed-use development for the site located at 21221 Oxnard St. The site is currently occupied by a vacant 124,000 square foot office building
A new Los Angeles-based online real estate crowd funding company, Realty Mogul, has emerged as a new option for investors to obtain the necessary funds for commercial property purchases. The company allows like-minded investors interested in private real estate investments to pool funds to raise equity capital needed to complete purchases. The Barstow Shopping Center
Signs continue to emerge that the worst period of California’s real estate crisis has passed. Foreclosure activity has now returned to pre-recession numbers. The steadily improving economy coupled with a rise in housing prices has led to a foreclosure activity stall. DataQuick reports during the period of January through March, 19,215 default notices were issued
Integra Realty Resources (IRR) has released their annual commercial real estate forecast highlighting expected trends for office, multifamily, retail, and industrial property types. This report examines real estate valuation, investments, and expected leasing trends that could occur in the aforementioned areas. IRR estimates that all real property values will increase over the next three years.
Waterbridge Capital, a New York real estate firm, has purchased former Downtown Los Angeles space known as the Broadway Trade Center, which formerly housed the department store known as May Co. The firm plans on converting the property into a mixed-use development. The estimated sale price is in the $115 to $130 million range. Waterbridge
The tallest office building in Burbank, Tower Burbank located at 3900 West Alameda Avenue is being taken over by Worthe Real Estate Group. Tower Burbank is a 32-story Class A office building located in the city’s media district. It is a 487,000 square foot building that was once more than 95 percent occupied with the its