Alena Botros

Los Angeles

Reporter at The Real Deal

Articles

Santa Monica Clock Tower’s loan lands in special servicing

1 week ago | therealdeal.com | Alena Botros

A loan backing the Santa Monica Clock Tower, once the city’s tallest building, headed to special servicing after the office tower struggled with occupancy. A $26.7 million commercial mortgage-backed securities loan tied to the Rockwood Capital-owned Santa Monica Clock Tower at 225 Santa Monica Boulevard went to special servicing after missing its May maturity date, according to Morningstar. The borrower has not provided a plan for the loan, according to Trepp.
AG sues SoCal real estate family, claims landlord exploits tenants

1 week ago | therealdeal.com | Alena Botros

Attorney General Rob Bonta sued what he called operators of a “multi-billion dollar real estate empire” for allegedly renting out unsafe and uninhabitable units, discriminating against Section 8 recipients and engaging in deceptive leasing practices and unlawful rent increases. Swaranjit “Mike” Nijjar and other family members, the complaint alleges, profited off their business but left tenants to inhumane conditions such as collapsing ceilings, sewage overflows and roach and rodent infestations.
SoCal real estate family discriminates, overcharges, deceives tenants: AG

2 weeks ago | therealdeal.com | Alena Botros

A “multi-billion dollar real estate empire” has rented out unsafe and uninhabitable units, exploiting California’s lack of affordable homes and violating tenant protections, according to California Attorney General Rob Bonta.
Brookfield dumps DTLA distressed office tower for $210M

3 weeks ago | therealdeal.com | Alena Botros

It was a who’s who of wealth managers, lawyers and commercial real estate executives at the Real Estate Family Office & Private Wealth West conference this week. Panelists talked about tariffs, trade and interest rates in back-to-back discussions at the Waldorf Astoria Monarch Beach Resort in Dana Point. There were hints of multifamily optimism, an emphasis that cash was stuck on the sidelines except for family office money and a juicy discussion on succession planning within family offices.
Brookfield offloads distressed office tower in DTLA for $210M

3 weeks ago | therealdeal.com | Alena Botros |Abigail Nehring

Brookfield Properties offloaded another Downtown Los Angeles office tower for less than the debt tied to the property. Uncommon Developers bought 601 S. Figueroa Street for $210 million, or $201 per square foot, in an off-market sale, according to a spokesperson for Colliers, which represented the buyer.
Investment adviser relocates HQ to 24K sf at Century City office tower

3 weeks ago | therealdeal.com | Alena Botros

Investment advisory services firm Evoke Advisors inked a 24,470 square-foot deal for a new headquarters at 2121 Avenue of the Stars in Century City. Evoke signed a 10-year lease for a full floor at Irvine Management Company’s 34-story tower, according to CBRE, which represented the tenant in the deal. It isn’t clear where Evoke is relocating from but the company lists its main office as a Westwood address on its website. The asking rent was $72 per square foot, according to Traded LA.
Hudson Pacific CEO notches $25M last year as company’s losses mounted

3 weeks ago | therealdeal.com | Alena Botros

Hudson Pacific Properties chief executive Victor Coleman, raked in about $25 million in 2024, roughly three times the total compensation he received a year prior, according to the company’s latest proxy statement filed April 23. In 2023, Coleman made around $8 million. His base salary was unchanged at $1 million, but his cash bonuses and stock awards increased.
Hudson Pacific CEO gets threefold compensation boost despite firm’s ballooning losses

4 weeks ago | therealdeal.com | Alena Botros

Hudson Pacific Properties’ chief executive received a substantial compensation boost last year as the company experienced mounting losses. The Los Angeles real estate investment trust’s head, Victor Coleman, raked in about $25 million in 2024, roughly three times the total sum he received a year prior, according to the company’s latest proxy statement filed April 23. In 2023, the chairman made around $8 million.
Jamison scores $220M financing package for newly built Koreatown apartment building

1 month ago | therealdeal.com | Alena Botros

Jamison Properties has nailed down a $220 million loan package to refinance the construction debt and provide cash for the Opus, a newly completed apartment building in Koreatown. Commercial mortgage banking company BWE arranged the financing from New York Life Real Estate Investors, BWE announced. The deal includes a $205 million five-year, interest-only senior loan and a $15 million floating-rate mezzanine loan that’s co-terminus with the larger senior loan.
Hoteliers sound the alarm on looming distress

1 month ago | therealdeal.com | Alena Botros

The Los Angeles City Council voted in favor of increasing the minimum wage for hotel workers to $30 an hour by 2028. Now it heads to Mayor Karen Bass. If she signs, more distress could follow. Los Angeles’ hotels suffered throughout the pandemic and haven’t totally recovered. Revenues are flat and operating costs are swelling. Plus, an earlier piece of legislation capped the amount of floor space housekeepers can clean.