Welcome to the real estate blog of Westside Realty Advisors. The mission of this blog is to provide meaningful and useful information on the real estate and financial markets. It is our intent to keep you informed about what is going on in the commercial real estate market.
JULY 18, 2018|
Wanda Group Seeks to Sell 9900 Wilshire in a Top U.S. Hotel Market Amid Competing Development
When Dalian Wanda Group Co. Ltd. bought an eight-acre property on a prime stretch of Beverly Hills’ Wilshire Boulevard, the Chinese commercial real estate and cinema conglomerate envisioned building a $1.2 billion, 5-Star hotel and condominium development that was ambitiously upscale, even by Beverly Hills standards.
But four years later, the site at 9900 Wilshire Blvd. remains a dirt hole between the Los Angeles Country Club and the iconic Beverly Hilton hotel in one of the country’s top hotel markets.
It seems like not a week goes by without a new project being proposed for Warner Center. The latest addition to the jam-packed roster of developments planned in the neighborhood is a California Home Builders mixed-use project near Oxnard Street and Canoga Avenue.
The development at 21300 Califa Street would include two structures, one residential and one of office space. Both would be designed by the architecture and planning firm Newman Garrison + Partners.
One thing, for sure, about the new tax bill is that real estate investors are big winners.
This article is not meant to be a comprehensive analysis of the new law. I have just excerpted some parts of the bill that I thought would be relevant to real estate investors.
Almost all of these changes begin on January 1, 2018, and revert in 2025.
There’s at least one man in Los Angeles who doesn’t quite comprehend the whole “retirement” deal.
SEATTLE — Online retail giant Amazon (NASDAQ: AMZN) has agreed to acquire high-end grocery chain Whole Foods Market Inc. (NASDAQ: WFM) for $13.7 billion. The all-cash transaction amounts to $42 per share and includes the Austin, Texas-based grocer’s net debt.
Dec. 15, 2018 is closer than it seems, especially for companies that haven’t gotten themselves prepared for the implementation of the Financial Accounting Standards Board’s new lease accounting rules, followed two weeks later by the International Accounting Standards Board’s updated standards. No leases will be grandfathered in, and therefore, says Avison Young’s Sean Moynihan, the time is now to begin analyzing the new rules’ impact on companies’ financial statements.
[Originally published at Pacific Research Institute]
The most unaffordable city in the world in which to rent a home is not New York or Tokyo or Hong Kong. The title belongs to San Francisco, where a single person who wants to live on their own needs to earn more than $85,000 a year to pay the rent and a family more than $163,000.
Not far behind is Los Angeles, ranking 10th in the world, according to the 2017 Rental Affordability Index compiled by Nested, an international real estate service.