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LA Real Estate Shake-Up | Real Estate News
Description
Michael Frankel’s massive stock sell-off at Rexford Industrial is cashing in over $3.5 million, hinting at more to come, while rival exec Clark quietly bought in—showing a tug-of-war in corporate moves. Meanwhile, PwC’s downtown LA exit to Century City signals a major shift in office real estate, as Class A space in the Financial District hits $4/sq ft. Michael Hackman’s studio empire is in freefall, defaulting on $2 billion in loans across iconic lots like Radford and Television City. Downtown’s legal drama continues at Oceanwide Plaza, where KPC and Lendlease’s deal stalls under city delays. And in retail, Brookfield’s $67M FIGat7th sale triggered a $4M tax hit—and was mostly financed by Wells Fargo’s $48M loan.
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