SFV REAL ESTATE

Valley Home and Condo Sales Drop 47 Percent in April

Stay-at-home orders in April negatively impacted San Fernando Valley’s real estate market, according to a Southland Regional Association of Realtors report, which showed a 47 percent drop in the number of houses and condominiums sold for the month.

Two-Property North Hills Retail Portfolio Sells for $6.3 Million

A retail portfolio of two adjacent parcels totaling 52,260 square feet of land has traded hands in North Hills for $6.3 million.

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Former Weider Building in Warner Center Fetches $12.8 Million

The former home of Weider Health & Fitness in Warner Center has sold for $12.8 million, according to Jim Markel, vice president and regional manager of Marcus & Millichap’s Encino office.

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Developers Close Escrow on Needham Ranch’s Phase II Land

Trammell Crow and Clarion Partners have closed escrow on a 137-acre parcel of land at Center at Needham Ranch that will pave the way for the completion of the 252-acre industrial park’s second phase.

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Nursing Home Divestiture Boosts LTC's First Quarter

Senior housing and health care real estate investment trust LTC Properties saw a 212 percent increase in net income for the financial first quarter because of property sales and higher rental and interest income.

Ventura County Apartment Complex Sells for $92 Million

The Artisan at East Village in Oxnard has sold for $92 million, or $339,154 per unit, in one of the highest payouts ever for a Ventura County commercial property, according to a CoStar Group report.

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Coronavirus Complicates Sales of NoHo Apartment Building

A 10-unit multifamily property in North Hollywood has sold for $2. 38 million, despite complications from the coronavirus.

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Farmworker Housing Project Moves Ahead in Somis

Ventura County is moving forward on its Somis Ranch project, a housing development designed to provide 360 residential units for farmworkers.

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Earnings: Public Storage, ASGN

Both Public Storage and ASGN reported higher earnings despite coronavirus impact late in first quarter.

Van Nuys Apartments Sell for $2 Million

An eight-unit multifamily property at 14533 Dickens St. in Van Nuys has sold for $1.95 million, or $243,750 per unit.

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Thousand Oaks Mixed-Use Project Finds $59 Million in Funding

The Latigo Group has made progress on its Thousand Oaks mixed-use project as Dekel Capital has arranged a $59 million construction loan for the Los Angeles-based developer.

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PS Business Parks Appoints Interim CEO

PS Business Parks Inc. announced last week that John Petersen, the company’s chief operating officer, was appointed interim chief executive officer while Chief Executive Maria Hawthorne takes a medical leave of absence.

Preview: A Time for E-Commerce

The coronavirus has accelerated the trend toward e-commerce in the Valley economy, with the primary beneficiary Amazon.com Inc.

Foundation Created to Preserve Tarzana Orange Grove

The Bothwell Ranch Foundation, a new San Fernando Valley-based nonprofit aimed at preserving what was once the Valley’s last commercial orange grove in Tarzana, has formally launched.

Verona Apartment Complex in Westlake Village Sells for $8.2 Million

The Verona, a 16-unit multifamily property in Westlake Village, has sold for $8.15 million, according to listing brokerage Marcus & Millichap Inc. in Calabasas.

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