OC homes of AB Capital owners raided by FBI in alleged scam inquiry
The Real Deal LA
by TRD Staff
2d ago
FBI agents swooped into the homes of two AB Capital executives in Newport Beach and Laguna Beach to find evidence of an alleged Ponzi scheme that cost investors tens of millions of dollars. Armed with search warrants, the federal agents seized documents as part of an ongoing criminal investigation into Joshua Pukini and Ryan Young, co-owners of the Newport Beach-based real estate finance firm, the Los Angeles Daily News reported. The FBI also searched AB Capital’s former Newport Beach headquarters at 15 Corporate Plaza Drive, investors say. In a broadcast on KCal News, the FBI agents were seen ..read more
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Homebuilding shrinks in California, but not as fast as the U.S.
The Real Deal LA
by TRD Staff
2d ago
Homebuilding permits across the Golden State fell last year, but not as fast as across the U.S. California developers filed permits for 111,221 homes last year, 6 percent fewer than in 2022, the Orange County Register reported, citing figures from the National Association of Home Builders. At the same time, builders in 49 states and the District of Columbia pulled 1.26 million permits, 11 percent fewer than the year before. Nine states had increases. California ranked third among states for the number of permits filed last year. Of those, 57,959 were for single-family houses, an 8 percent decl ..read more
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Judd Apatow and Leslie Mann buy Beverly Hills estate for $32M
The Real Deal LA
by TRD Staff
3d ago
Judd Apatow and Leslie Mann have bought a 9,300-square-foot Mid-century mansion in Beverly Hills for $31.9 million — $3.6 million less than it sold for a year ago. The director/producer and the actress of “Cable Guy,” “Knocked Up” and “This is 40” purchased the single-story spread at 514 Doheny Road, south of Greystone Mansion, according to the Robb Report. The seller was Guess co-founder Maurice Marciano. Marciano bought the house in September 2022 for $35.5 million. The purchase by Apatow and his wife of 27 years comes five months after they sold their 10,300-square-foot mansion at 239 North ..read more
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Digital billboard will wrap around West Hollywood office building
The Real Deal LA
by TRD Staff
3d ago
The riddle wrapped in a mystery could well describe a billboard under construction in West Hollywood — with an enigmatic office building tucked inside. United El Segundo, a holding company led by Ronald Appel based in Cheviot Hills, is behind the 29,000-square-foot office building and billboard at 8497 West Sunset Boulevard, Urbanize Los Angeles reported. It replaces a 31-unit apartment building. The three-story office building, dubbed “The Now,” would be wrapped in digital signage at Sunset and La Cienega boulevards. The project is in conjunction with Rick Moses Development, based in Downtown ..read more
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Jury tells Jogani brother to hand over $2.6B plus portfolio stake
The Real Deal LA
by Isabella Farr
3d ago
Hand over $2.6 billion in cash, and stakes in more than 17,000 apartments across the San Fernando Valley, a jury told Haresh Jogani earlier this week, ending a 20-year legal saga involving the portfolio’s ownership.  The Jogani family has been embroiled in lawsuits since 2003, when one brother, Shashikant Jogani, sued Haresh for not abiding by an oral agreement that his four brothers would have a share in the portfolio.  More lawsuits were filed over the years, culminating in a five-month trial that ended this month at the Los Angeles Superior Court offices in Downtown L.A. Haresh ow ..read more
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Bird Streets home’s $24M sale ranks in top deals for city of LA this year
The Real Deal LA
by Christian Bautista
3d ago
A Paul McClean-designed Bird Streets mansion has sold for $23.7 million, marking one of the priciest deals in the city of Los Angeles so far this year.  The 10,500-square-foot estate, located at 1432 Tanager Way, was built by luxury development firm Bird Street Builders. It has amenities such as a fitness center, a spa with sauna and a movie theater, according to a listing on Zillow.  The seller is LY Holding 26, an LLC managed by Liron Atia. In 2020, the limited liability company bought the property from a trust liquidating the assets of developer Robert Shapiro, who went to prison ..read more
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Rick Hilton’s startup brokerage officially opens in Beverly Hills
The Real Deal LA
by TRD Staff
3d ago
Beverly Hills has added a new luxury real estate brokerage with two pedigreed names: Hilton Hilton. The new brokerage house led by Barron, Tessa and patriarch Rick Hilton officially launched this month with the aim of bridging the gap between old and young buyers, according to The Hollywood Reporter. Hilton Hilton has recruited Justin Alexander, who previously worked at Christie’s International, to serve as vice president. It hired Rosemary Ohm as managing director.  True to its mission of drawing design-focused elements to real estate, the firm tapped Rob Janoff, credited with devising t ..read more
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“Selling Sunset” star Adnan Sen sells Beverly Hills estate for $31M
The Real Deal LA
by Daria Solovieva
4d ago
Adnan Sen, the developer and founder of Beverly Hills-focused luxury real estate firm Sen Properties, has sold the property known as the Laurel House for $31 million, according to a Zillow listing. The nearly 1-acre estate, located at 1000 Laurel Way in Beverly Hills, includes nine bedrooms, 14 bathrooms, and spans more than 15,800 square feet. Architect William Hefner designed the home, which traded on Feb. 27. Pate Stevens of The Agency held the listing. The unidentified buyer was represented by Dustin Nicholas of Nicholas Property Group, which specializes in off-market deals. Sen and his pr ..read more
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Helio Group buys Culver City multifamily from Greystar for $68M
The Real Deal LA
by Isabella Farr
4d ago
Helio Group, an investment firm run by Simon Lazar and Sam Mostadim, have bought an apartment complex in Culver City for $67.7 million, according to property records. Greystar sold the 135-unit property, named the Cobalt Apartments, located at 10601 Washington Boulevard, records show. Marcus & Millichap’s Institutional Property Advisors brokered and announced the deal earlier this month, but declined to disclose a price.  The deal came out to about $502,000 per unit. No loan was recorded in connection with Helio’s purchase, according to records.  The sale was subject to the City ..read more
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CenterPoint buys four warehouses in Compton for $197M
The Real Deal LA
by TRD Staff
4d ago
CenterPoint Properties has picked up four industrial buildings in Compton for $197 million. The Illinois-based investor bought a 546,900-square-foot warehouse portfolio at 111 West Artesia Boulevard, 711 West Walnut Street, 1620 South Wilmington Avenue and 425 Carob Street, the Los Angeles Business Journal reported. The seller was undisclosed in a deal that works out to $360 per square foot. The South Bay properties, 12 miles from the ports of Long Beach and  Los Angeles, contain 113 dock-high loading positions, 12 ground-level loading doors, plus parking and secure yards.  “It’s rar ..read more
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