The San Pedro complex

Two affordable housing developers have teamed up to buy a 213-unit multifamily complex in San Pedro, a community that has been lagging in lower-cost housing.

SDG Housing Partners and Affordable Housing Access paid nearly $63 million for the building at 1301 West Park Western Drive, records show.

The seller was a trustee of William Pavone, a Newport Beach resident, according to the deed.

The 50-year-old complex is spread across low-rise buildings on seven acres in the Northwest San Pedro neighborhood. It’s a couple of miles from Ratkovich Company and Jerico Development are planning the sprawling San Pedro Public Market project.

An affiliate of Colorado-based Bear Creek Securities, acting behind an LLC, provided a $53 million acquisition loan.

Neither of the buyers responded to immediate requests for comment. Pavone, whose family has owned the site for at least five years, could not be reached.

The lack of affordable housing continues to plague Los Angeles and while finding affordable housing is a statewide problem, it’s been especially hard to come by in the South Bay. A recent report from public policy group Next 10 revealed some communities in the South Bay are a very long way from reaching their affordable housing goals.

Van Daele CEO Jeffrey Hack and the Deerlake Ranch development site

Van Daele Homes secured a $29 million construction loan to break ground on part of a long-stalled 230-acre gated community development just outside Chatsworth.

The Contra Costa County-based company is developing the first 53 homes part of the 314-home Deerlake Ranch development, a master-planned community by Foremost Communities.

Deerlake Ranch was first approved by county officials a decade and a half ago but was put on ice amid the recession and has sat undeveloped since.

Foremost is developing the larger Deerlake Ranch project with Starwood Capital Group, but the joint venture is partnering with other developers to build the six “neighborhoods” part of the master plan.

Chinese homebuilder Landsea is among the other developers building portions of the master plan. In January, the firm started selling the 107 townhomes at its Copperleaf at IronRidge community in Lake Forest, a city in southern Orange County.

Van Daele’s 30-acre slice at the southeast corner of the site is called Ridgepoint. Wells Fargo provided the construction loan, records show. Van Daele looks to open a model home by May and complete Ridgepoint by late fall, a representative said.

Newport Beach-based Foremost Communities and Starwood purchased the 230-acre Deerlake Ranch site in 2014 from Presidio Chatsworth Partners, which secured county approval for the project in 2004.

It’s one of the few remaining large development properties in the area, sitting on a hillside just off the 118 Freeway.

Following the 2014 sale, Foremost Communities President Steve Cameron told the Los Angeles Times that the homes across Deerlake Ranch would each be priced in the $1.2 million-$1.7 million range. They’ll range from around 3,000 square feet to 4,600 square feet.

The master plan includes 4.3 miles of trails for hiking and horseback riding that will connect to the regional trails in the neighboring Santa Susana Mountains.

Toronto is emerging as a prime destination for commercial investment (Credit: Wikipedia and Pixabay)

A crackdown on foreign buyers in British Columbia has Chinese investors looking east for other opportunities in Canada, with Toronto emerging as a prime destination for commercial investment.

As Chinese investment in foreign real estate retreated globally in 2018, Vancouver saw a particularly sharp drop-off as a series of new taxes kicked in, Bloomberg reported. Meanwhile, Toronto saw a slight increase in investment from Asia as a whole, beating Vancouver for the top spot according to data from CBRE, which includes only known buyers.

Chinese investment in Vancouver “had always been predicated on land, placing bets on land, whether it’s old shopping centers or office buildings even — they see underlying development and land value,” Avison Young’s Bal Atwal told Bloomberg. “They’re looking at Toronto now because they’re seeing a better arbitrage on that than they are here.”

CBRE, which has been heavily involved in bringing Chinese investment to Canada, is now planning to shift more of its focus to Toronto. The city’s booming tech and financial services market is seen as another potential draw for investors.

“That spells money because young people have to consume, they’re growing families,” CBRE executive vice president David Ho said. “That’s a huge advantage against the Vancouver market, which is more of a retirement market.” [Bloomberg] — Kevin Sun

Bob Lowe, chairman of Lowe development firm with a rendering of the project set for Violet Street in the Arts District (Credit: Humphrey Partner Architects)

Lowe development’s 97,000-square-foot office project is set to rise in the Arts District later this year, after a long wait.

The Los Angeles-based firm is building the nine-story mixed-use complex at 2130-2148 E. Violet Street, according to Curbed. It will include 90,800 square feet of office space, 6,200 square feet of ground-floor retail, terraces and a lounge on the roof.

The project is designed by Ware Malcomb, and will include new sidewalks and landscaping. Construction is expected to start this year and be completed in 2021. The project was proposed in 2016, and was approved by the city last summer.

The property was a former metal recycling facility when the neighborhood was filled mostly with vacant or blighted warehouses. But the area has been undergoing a transformation in recent years.

Access Industries, the parent firm of Warner Music Group, paid $195 million for the Ford Factory building in the Arts District, The Real Deal reported last week. The deal was made shortly after Warner Music’s move into the 271,000-square-foot structure.

Last year, Lowe completed the Garey Building with 320 apartments and 18,000 square feet of retail space in the Arts District. The firm is also in Culver City developing the Ivy Station project with AECOM-Canyon Partners and Rockwood Capital. [Curbed] — Gregory Cornfield

Jennifer Aniston and Brad Pitt (Credit: Getty Images)

Brad Pitt and Jennifer Aniston’s marriage ended long ago, but their former Beverly Hills abode lives on, and is now on the market.

Hedge fund manager Jonathan Brooks, the current owner, is offering the 1930s-era estate for $56 million, according to the Wall Street Journal. Brooks renovated the 12,000-square-foot main home, the Journal reported.

Aniston and Pitt paid $13.5 million for the home in 2001, a year after they married. The Hollywood power couple lived there for two years, according to the Journal. The mansion was designed by Wallace Neff, who created opulent homes for the stars of Hollywood’s Golden Age.

The Wallace Neff house

Many of those estates still command high prices and remain popular with celebrities and the super-rich. Elvis Presley, Howard Hughes, and Prince Rainier of Monaco were among the former residents of a Neff-designed 13,400-square-foot home in Bel Air that hit the market a year ago for $37.5 million.

Brooks, who purchased the former Aniston-Pitt home a year after their 2005 divorce, added a separate guest loft to the main home, along with a tennis court, according to the report. [WSJ] — Dennis Lynch 

Stanley Keller

A suburban man shocked a real estate broker with a stun gun during an attempted sexual assault at an open house Sunday in the southwest suburbs, authorities said.

Stanley Keller, 50, of Hazel Crest, now faces charges of attempted aggravated criminal sexual assault, aggravated battery and possession of a weapon by a felon, according to the Chicago Sun-Times.

The broker was showing a house about 2 p.m. in the 6800 block of West 81st Street in Tinley Park when Keller shocked her with a stun gun from behind, Tinley Park Police Chief Matthew Walsh said.

The woman was able to run out of the house and call police, who arrived to find Keller standing outside a car with an open, unused condom. The stun gun was found in the car, police said.

During a court hearing Monday, a Cook County judge ordered Keller held in lieu of $1 million bail.

Agents’ safety at work, particularly while doing showings, has become an increasing focus in the industry.A 2017 report by The Real Deal using NAR data showed 4 percent of agents declared themselves victims of a crime, but 38 percent of those surveyed said they had felt unsafe at work within the previous year. [Chicago Sun-Times] — John O’Brien

Edward Ehsan and a rendering of the proposed home (Ryder Design & Architecture)

In Bel Air, a fully entitled, vacant lot is worth its weight in gold.

A real estate investor has put his development site on the market, asking $22 million. It adds to the recent luxury land listings already on offer around Los Angeles.

The owner, Edward Ehsan, said the property in Bel Air’s exclusive Nimes Road is entitled for a three-story mansion he had designed by Ryder Design & Architecture. Ehsan is founder of Golden Palm Properties, a real estate brokerage based in Beverly Hills.

Plans call for an 8,900-square-foot home, with six bedrooms and 10 bathrooms, a temperature-controlled wine cellar, gym and movie theater. It includes an elevator, indoor spa, infinity swimming pool and jacuzzi. Ryder Design’s renderings show a white home with multiple decks, including that spanning 10,200 square feet.

Interior of one of the bedrooms (Ryder Design & Architecture)

Ehsan, who is acting as his own listing broker, said he originally wanted to build the home for himself when he started the project three years ago. But a change of lifestyle — he now lives on a 25-acre ranch alongside horses in the Valley — coupled with the complications associated with new developments, has led him to put the property on the market.

“I don’t want to deal with the b.s. involved with development,” he said. “I’m just an ordinary guy. Building is a pain in the neck.”

Still, he said a potential buyer could see a “tremendous” rate of return. “One can build it for about $8 million and end up in a $70 million home,” he added.

Property records show Ehsan, acting behind an LLC, paid $5.3 million to acquire the land in January 2015.

His $22 million listing is one of many land-only listings circulating the market. Brokers attribute the recent spurt of entitled properties to the spec home development craze of 2014 to 2016. Much of those projects that were proposed and permitted would likely not get approved today, giving sellers incentive to list their developments at top dollar.

Netflix CEO Reed Hastings and the Egyptian Theater on opening day in 1922

Netflix may be killing the traditional movie industry, but the streaming giant now appears to be in talks to buy one of Hollywood’s most famous brick and mortar theaters.

The streaming giant is negotiating to acquire the landmarked Egyptian Theater on Hollywood Boulevard, according to Deadline. The owner is nonprofit group American Cinematheque.

The deal would reportedly allow American Cinematheque to run the Egyptian’s schedule on weekends, while Netflix would operate it on weekdays, including premieres of its exclusive films. Netflix saw recent box office success with its critically-acclaimed original movie “Roma.”

Sid Grauman opened the Egyptian in 1922, five years before he opened his more famous movie palace, the Chinese Theater, just around the block.

Because of its disruptor status, Netflix is still considered a threat by some in the industry. Hollywood titan Steven Spielberg took heat earlier this month for reportedly trying to block films that debut on streaming services from qualifying for an Academy Award.

Netflix has made a massive push to establish itself in Hollywood — both literally and figuratively. The company leases 458,000 square feet at Hudson Pacific Properties’ Sunset Bronson Studios and last fall expanded its footprint in Hollywood by 683,000 square feet with leases at HPP’s Epic office development and Kilroy Realty’s Academy on Vine project.

American Cinematheque screens historic and rare films. It also hosts popular festivals featuring talks with industry figures. The city of Los Angeles sold the theater to the group for $1 in 1996 with the understanding it would be restored and preserved. A deal would be a financial windfall for American Cinematheque and allow it to keep up operations at the Egyptian and the leased Aero Theater in Santa Monica. [Deadline] — Dennis Lynch 

Mortgage application volume fell 5.6 percent from the previous week (Credit: iStock)

The mortgage refinance boom was short-lived.

The rebound in interest rates has slowed borrowers seeking to refinance their mortgages, CNBC reported. Mortgage application volume fell 5.6 percent from the previous week — but applications were still 24 percent higher year-over-year because of the recent increase in refinancing.

After rates fell for four straight weeks to the lowest level in more than a year, the average contract interest rate for 30-year fixed-rate mortgages ticked up to 4.4 percent from 4.36 percent. The shifts in borrower trends highlight how sensitive buyers are in the current market, the report said.

“As quickly as refinance activity increased in recent weeks, it backed down again in response to the rise in rates,” said Mike Fratantoni, the Mortgage Bankers Association’s chief economist. “However, this spring’s lower borrowing costs, coupled with the strong job market, continue to push purchase application volume much higher.”

Refinance applications fell 11 percent last week after the sharp drop in rates created a new influx of refinancing in the past month. Rates are still a quarter of a percentage point lower than a year ago — but because many borrowers have refinanced at lower rates, the pool of applicants has thinned.

Applications were 42 percent higher than a year earlier, but the percentage changes are skewed because of the small base of applications. [CNBC] — Meenal Vamburkar

707 N Alta Drive and Paul Coulson (Credit: Redfin)

Paul Coulson, an Irish financier known as the “junk bond king,” unloaded his home in the Beverly Hills Flats for $10 million, The Real Deal has learned.

That’s about $200,000 less than what he and his wife, Moya Coulson, paid for the home about four years ago.

The buyers were Amy and Mark Kestenbaum, who acquired the property through a trust, records show. The deal closed late last month.

Located on North Alta Drive, the Traditional style home includes six bedrooms and seven bathrooms. Amenities include a detached guest house, swimming pool, gym and marble-clad bathroom.

Fred Bernstein and Ethan Peskowitz of Westside Estate Agency had the listing. Adi Werthman of Hilton & Hyland represented the buyer.

Coulson is the billionaire founder of Ardagh Group, a Luxembourg-based packaging company. The businessman earned his nickname after raising almost $10 billion for Ardagh by selling junk bonds in six deals over two years, according to the Irish Times.

Nearby, Casey Wasserman is shopping his newly built Foothill Estate for $97.5 million. Wasserman, grandson of legendary agent and studio executive Lew Wasserman, first listed the 18,500-square-foot mansion for $125 million last year.

The L.A. County Museum of Art’s planned $650 million expansion got a big boost from the county, with a help from Brad Pitt and Diane Keaton.

The county Board of Supervisors voted to approve $117.5 million in funding for the project at 5905 Wilshire Boulevard, and certified its environmental report, according to Curbed. They also approved a $300-million bond to be repaid through private donations.

The new expansion in the Miracle Mile neighborhood is designed by Swiss architect Peter Zumthor. The bridged design will be hoisted on columns on both sides of Wilshire Boulevard, and feature 220,000 square feet of exhibition space over the thoroughfare. The city still needs to approve that feature.

Groundbreaking is planned for early 2020, and construction should take four years.

The design has changed a few times since it was proposed in 2016. The most recent alteration was revealed last month, when the expansion was cut back by 10 percent — to 347,000 square feet — because of ballooning costs. LACMA director Michael Govan has since explained the museum will continue growing with satellite campuses.

On hand to lend support to the expansion at Tuesday’s Board of Supervisors meeting were actors Brad Pitt and Diane Keaton. During the public comment portion, Pitt continued talking over his allotted time and was promptly cut off, according to CNN.

LACMA is along Museum Row, which is in the middle of a transformation with the $388-million Academy Museum under construction next door, the new $125-million Peterson Automotive Museum and a Metro Purple Line station set to open in a few years. [Curbed] — Gregory Cornfield

Al Capone and his former home (Credit: Wikipedia and Realtor)

A South Side two-flat where gangster Al Capone lived after moving from New York sold for more than twice its asking price.

The 2,800-square-foot building at 7244 South Prairie Avenue received some 80 offers after going on the market at nearly $110,000 earlier this year, and ended up selling last week for $226,000, according to the Chicago Tribune.

Listing agent Ryan Smith of Re/Max Properties told the Tribune media coverage of the listing helped generate the intense buyer interest.

Capone moved into the two-flat with his mother and sister in 1923 after moving to Chicago from New York. His wife, Mae, and mother, Teresa, signed the deed for the home, paying $5,500.

Capone did not return to the home after getting out of prison in 1939, moving instead to Florida, where he lived until dying in 1947. The family owned the home until his mother died in the 1950s, according to the Tribune.

The six-bedroom building, which was lost in foreclosure in 2018, sits on nearly three full standard Chicago lots. MTGLQ Investors, a distressed-property subsidiary of Goldman Sachs, bought it in November and listed it in February.

A previous owner listed it in 2009 for $450,000, cutting the asking price several times before taking it off the market in 2016 at $179,000, according to the Tribune. [Chicago Tribune] — John O’Brien

Inglewood Mayor James Butts 

With a $5 billion sports complex under construction and hundreds of millions more spent on residential and commercial real estate investments, Inglewood has been transforming fast. But it’s not to the benefit of everyone.

Many of Inglewood’s predominantly black and Hispanic residents who lived through the city’s struggles now find themselves getting priced out and pushed, according to the Los Angeles Times. The city is struggling to find ways to protect those longtime residents.

About two-thirds of the city’s residents are renters, making them extremely vulnerable to rent hikes associated with gentrification, according to the report. Some landlords have more than doubled rents at their properties and the city has had to step in on a case-by-case basis to negotiate better deals for residents.

Tomisha Pinson rents a two-bedroom apartment near the under-construction L.A. Stadium at Hollywood Park, the future 70,000-seat home of the L.A. Rams and L.A. Chargers. She received a notice from her landlord, Santa Monica-based Malin Asset Management, that rent would spike to $2,725 from $1,145. There were similar increases at another Malin-owned property in the city, the Times reported.

Inglewood Mayor James Butts got wind of the increase and negotiated a deal that allowed residents to choose gradual rent hikes or $10,000 in cash to move out by April.

In March, Butts and the City Council also instituted a 45-day moratorium on rent increases above 5 percent. The moratorium didn’t address evictions and in some cases, landlords have evicted tenants without cause or without a notice of a rent increase, the report said. [LAT] — Dennis Lynch 

Robert Zangrillo

Miami developer Robert Zangrillo is among the 16 parents now facing additional charges in the Justice Department’s largest-ever college admissions investigation.

Zangrillo was among the 33 parents indicted in March for paying to get their children into schools that included the University of Southern California, Stanford, Georgetown and Yale. In addition to being charged with conspiracy to commit mail fraud and honest services mail fraud, the Department of Justice now charged Zangrillo and 15 other parents for conspiring to commit fraud and money laundering.

The wealthy parents involved in the scheme conspired with William “Rick” Singer to bribe college entrance exam administrators and university athletic coaches and administrators to get their children into the elite universities, according to the complaint.

The defendants laundered hundreds of thousands of dollars through Singer’s charity and for-profit company, the Justice Department alleges.

In addition to Zangrillo, former Wynn Resorts Development and MGM Resorts International executive Gamal Abdelaziz, known as Gamal Aziz, and former Pacific Investment Management Company CEO Douglas Hodge were also charged this week in a second indictment for fraud and money laundering.

The announcement comes as two real estate executives pleaded guilty on Monday in connection with the scheme. Bruce Isackson, a Bay Area real estate developer, and his wife, Davina Isackson pleaded guilty to one felony count of conspiracy to commit mail fraud and honest-services mail fraud. Isackson, president of WP Investments, also pleaded guilty to money laundering and tax fraud. They’re facing prison time of up to 46 months. Irvine-based Crown Realty CEO Robert Flaxman pleaded guilty to conspiracy to commit mail fraud and honest services mail fraud, and now faces up to 14 months in prison.

Just weeks after the March indictment, it was revealed that Zangrillo, a leading investor and face of the $1 billion Magic City project in Miami’s Little Haiti neighborhood, is no longer involved in the project and was replaced by developer Zachary Vella. Zangrillo is also founder and CEO of Dragon Global, a venture capital and real estate investment firm.

According to the complaint, Zangrillo paid off athletic department officials at USC to designate his daughter as an athletic recruit, and had someone take classes on her behalf. He is said to have made two donations: $200,000 to the Key Worldwide Foundation and $50,000 to Women’s Athletics at USC. Though USC rejected his daughter’s application in 2017, the complaint states she was accepted after her second application, touting her rowing experience that was absent from the first application, and was placed on a VIP list of transfers.

An arraignment date for Zangrillo hasn’t been scheduled yet, according to the state attorney’s office.

The Los Angeles County Board of Supervisors

The Los Angeles County Board of Supervisors is extending and expanding its temporary rent control ordinance on unincorporated communities.

The board voted to extend the temporary 3 percent cap increase landlords can charge, according to Curbed. The measure was set to expire in June and now will extend through the end of the year, according to the report. The extension is meant to buy time for the county to draw up a permanent measure.

The board also expanded its “just cause” eviction to single-family rentals as well, not just those in multifamily buildings. That means landlords cannot evict tenants without a reason that qualifies under the ordinance, such as failure to pay rent or otherwise violating the terms of the lease.

The county approved the cap and a suite of other measures in November, shortly after voters statewide rejected Proposition 10, a measure that would have allowed sweeping new rent control laws in California.

The county board, like all lawmakers statewide, is limited to regulating units built before 1995 by the Costa-Hawkins Rental Housing Act, passed that year. If passed, Proposition 10 would have repealed the law, opening the door to rent control.

Landlords in L.A. County argue the board is going against that vote with its temporary measures. There’s also evidence that the measures are scaring off investors who specifically bought in unincorporated areas of the county because there was no rent control there.

The county isn’t the only jurisdiction considering new rent regulations. Glendale and Beverly Hills have both instituted new ordinances in recent months. Inglewood and Long Beach are considering measures of their own. [Curbed] — Dennis Lynch 

Supervisor Hilda Solis and the museum

Los Angeles County could become the next owner of the Southwest Museum of the American Indian in Mt. Washington.

The L.A. County Board of Supervisors is considering a bid to acquire the 12-acre campus at 234 Museum Drive. The museum released a request last month for an ownership and management partner for the 105-year old campus, Urbanize reported. On Tuesday, the board formally agreed to consider the acquisition.

In 1914, the site opened as the Southwest Museum of the American Indian. It was designed by Sumner Hunter and Silas Burns, and it was renovated by Gordon Kaufmann and Glen E. Cook. The campus is listed on the National Register of Historic Places. The campus also includes the Casa de Adobe at 4605 N. Figueroa Street, which was designed by Theodore Eisen as a museum for the Hispanic Society in 1917. It was deeded to the museum in 1925. The museum merged with the Autry in 2003.

The motion to consider purchasing the museum was by Supervisor Hilda Solis. “Major renovations are needed in order for the Southwest to reopen fully as a museum,” according to the motion. The museum is only open one day a week. [Urbanize] — Gregory Cornfield

Alex Massachi and a rendering of the project

MCAP Partners is squeezing all it can out of Orange Drive.

The local developer has filed plans to build a 24-unit project on the Hollywood street, set to rise a few steps from where it is developing a larger residential tower.

Dubbed Orange Flats, the 40,900-square-foot complex would be five stories, with units ranging from 600 to 1,000 square feet. It will also include amenities such as a Peloton bike room, screening room, landscaped rooftop deck and lounge area. The firm paid $1.8 million to acquire the property, located at 1130 North Orange Drive, last December, property records show.

Rents will range from$2,750 for a one-bedroom up to $5,750 for a two-bedroom.

Renderings by R&A Architecture and Design reveal the building’s facade will have perforated metal screens and cement board panels. There will also be several terraces, made possible by the structure’s slanted design.

Alex Massachi, executive vice president at MCAP, said the firm recently filed for entitlements and plans to begin construction in the fall.

The firm is also working on a 105-unit multifamily project on the corner of Orange Drive and Santa Monica Boulevard. Designed by Steinberg Hart, the mixed-use, 13-story tower was recently redesigned to take advantage of the city’s Transit Oriented Communities incentives.

Both projects are slated to rise near Onni Group’s proposed seven-story complex at 6901 Santa Monica Boulevard. The Canadian developer has already started construction at the site, which will include 231 residential units and 15,000 square feet of commercial space upon completion.

China Vanke CEO Zhu Jiusheng (Credit: Twitter and iStock)

China Vanke, the country’s biggest developer by market capitalization, is considering an IPO.

The company is weighing a Hong Kong listing of its property management business, Bloomberg reported. The firm has spoken with advisers about a share sale that could raise as much as $1 billion. The offering could happen next year.

Vanke would join other Chinese developers — including Country Garden Holdings — in spinning off their management units. That business tends to face less fluctuations from policy changes and economic cycles. Country Garden Services Holdings Co. was listed by introduction last year, while China Aoyuan Group’s services arm raised $94 million in a Hong Kong IPO last month.

Talks are still in early stages, the report said. And the timeline and amount of fundraising could change. A representative for the property management unit told Bloomberg they have no current plans for a listing.

Property management and related services were China Vanke’s second-largest revenue generator. The business contributed 9.8 billion yuan ($1.5 billion), or about 3.3 percent of the developer’s total revenue last year, according to its annual report.

MSCI China Real Estate Index has risen 32 percent this year as the country’s property market begins to recover. Home sales surged in March. China Vanke’s Hong Kong-listed shares have climbed 26 percent since the beginning of the year.

Last year, China Vanke took a 5 percent stake in Cushman & Wakefield ahead of its IPO. Cushman agreed to sell 10.2 million shares in the company through a private placement deal to a unit of China Vanke. [Bloomberg] — Meenal Vamburkar

Lindsay Chambers and Paul McClean

In Los Angeles’ high-end real estate market, land-only listings are increasingly coming on the market but for one developer, the spec home sale is still alive and well.

Lindsay Chambers, an interior designer-slash-developer, is selling a newly built, fully furnished home in the Trousdale Estates for nearly $24 million, The Real Deal has learned.

Photos of home at 1335 Carla Lane

Located at 1335 Carla Lane, the 9,500-square-foot home has five bedrooms and nine bathrooms. Amenities include a home theater, interior pool and a 3,000-square-foot garage with three flat screen television screens.

Designed by Paul McClean, the residence features a limestone wall imported from Italy, as well as expansive ocean views. This marks the first time Chambers and McClean, who designed many of L.A.’s most prolific spec homes, collaborate. McClean is the architect on Nile Niami’s “The One,” the spec home development he said will sell for $500 million.

Photos of home at 1335 Carla Lane

Chambers, founder of Lindsay Chamber Design, said the Trousdale home took more than three years to build. While her focus is interior design, she often takes on one development project a year, she added. Property records show she purchased the property behind an LLC, for $5.9 million in 2015.

Dustin Nicholas of Nicholas Property Group has the listing.

Photos of home at 1335 Carla Lane

Chambers, who also owns a property on the Bird Streets’ coveted “Front Row,” sold a home in the Beverly Hills Flats roughly two years ago. The designer sold the five-bedroom home to the president of Snail Games USA for $8.3 million, nearly $2 million above what she had paid for it in 2015.

Cedars-Sinai President Thomas Priselac and the Pacific Design Center

Cedars-Sinai health system is boosting its space at the Pacific Design Center, where it has been a tenant for the last three years.

The nonprofit’s newest lease for 30,000 square feet expands its footprint at the West Hollywood complex to more than 100,000 square feet, according to the Los Angeles Business Journal. Cedars-Sinai first moved into the complex in 2016.

Cohen Brothers Realty developed the 1.6-million-square-foot Pacific Design Center in 1999. Marc Horowitz, the company’s national director of leasing, advised on the latest deal. CBRE’s Todd Doney represented Cedars-Sinai.

At 8687 Melrose Avenue, the Pacific Design Center is about a half-mile from the Cedars-Sinai hospital main campus. The hospital system leases offices and medical facilities around the city.

Each of the complex’s three buildings is clad in monochrome glass — one red, one blue, one green.

In 2016, Cedars-Sinai leased 46,500 square feet, the entire fifth floor of the Green Building for administrative offices. It also took another 30,000 square feet at the Blue Building. At the time, a source said the lease was worth $54.7 million over a 15-year term.

The Pacific Design Center has been popular with tech and media companies. WeWork has leased 70,000 square feet since 2017. Last year, film production company A24 and artificial intelligence company Poletus inked leases there.

The complex includes conference space, a gym, and a 300-seat movie theater. [LABJ] — Dennis Lynch