LOS ANGELES, CA – MWest Holdings, a leading private Los Angeles-based real estate and investment firm, has bought the landmark Italian Renaissance Revival San Fernando Building in downtown Los Angeles, and the historic 1920’s neo-classical apartment building The Kingsley in the Hollywood/Los Feliz area. 

With another 1920’s poured-in-place concrete building on the Wilshire Corridor under contract, these three acquisitions cap an extraordinary 18-month growth phase for MWest.  The Los Angeles-based firm now owns some of the city’s most iconic real estate — including The Hollywood Tower and Wilshire Royale Apartments.  The recent $100 million in deals highlights an investment vision of identifying architecturally vital and historic properties in emerging neighborhoods, and enhancing their value by restoring them to their legendary grandeur.  The San Fernando Building’s iconic 22-foot ceilings, original tile floors, elaborate cornice work and spandrel panels, illustrate this vision perfectly.

“The San Fernando Building acquisition is an outstanding opportunity to build on our successful strategy of making a Heritage Collection of properties.  The Heritage Collection consists of properties which illuminate the incredible history of Los Angeles,” stated Karl Slovin, President MWest Holdings, LLC.  “110 years ago, when the San Fernando Building opened, the corner of 4th and Main was among the most vital corners in the entire City of Los Angeles.  The San Fernando Building was built by, and for, James Boon Lankershim, who together with his brother-in-law, Isaac Newton Van Nuys, owned most of the San Fernando Valley.  Van Nuys’ 1896 hotel sits diagonally across the street.  On the other side of Main Street are buildings built by Isaias Hellman, founder of Farmers and Merchants Bank, and one of the creators of the University of Southern California.

Los Angeles has gone through a lot since then, and Gilmore and Associates was visionary in bringing this incredible corner back to life.  MWest is proud to take on the mantel of revitalization and historic preservation that Tom Gilmore started.  We are excited be part of the on-going tale of 4th and Main, and to add this incredible property to our rapidly growing collection of historically vital assets in the City of Los Angeles.”

Located in the historic financial district, the San Fernando Building is situated in one of the most exciting and quick-growing communities in Los Angeles; an area with new restaurants, gastropubs and nightclubs opening weekly.  The building now hosts two of the hottest eateries in the Los Angeles: Bäco Mercat & Ledlow.  The emergence of the live/work generation that seeks classic buildings which feature walkability and simple access to transportation, speaks directly to the continued promise of this property.  

MWest has differentiated itself in the market by making innovative investment and transformational development solutions which make a sense of neighborhood, build community and make enormous value.  This growth initiative expands its portfolio of classic, core-plus and value-add properties in Los Angeles to 18 properties, and 1,566 apartment units. 

Powered by WPeMatico

NEW ORLEANS, LA – 365 Connect, a leading provider of award-winning marketing, leasing, and resident technology platforms for the multifamily housing industry, announced today that the company has received two Communicator Awards for its Marketing Syndication and Mobile Technology Platforms. These highly-coveted awards recognize 365 Connect’s capabilities to deliver innovative and creative solutions to meet the rapidly-changing needs of the multifamily housing industry.

The Communicator Awards is overseen and judged by the Academy of Interactive and Visual Arts (AIVA), a 600+ member organization of notable professionals from various disciplines of the visual arts, who are dedicated to embracing the evolving nature of traditional and interactive media. The current AIVA membership represents a “Who’s Who” of acclaimed media, advertising, and marketing firms such as AirType Studio, Condè Nast, Disney, Keller Crescent, Lockheed Martin, Monster.com, MTV, rabble+rouser, Time Inc., Tribal DDB, Yahoo!, and many others.  With over 6,000 national and international entries, the Communicator Awards is one of the largest competitive awards program, honoring the creative excellence of communications professionals.

Among the many talented companies that entered this year’s competition, 365 Connect was fortunate enough to be honored by the Communicator Awards for its revolutionary Marketing Syndication Platform, a fully integrated solution that eliminates redundant marketing efforts, reduces operating expenses, and increases qualified prospect traffic from a single platform. The Communicator Awards also acknowledged 365 Connect’s Mobile Technology Platform, a fully responsive solution that delivers leading-edge capabilities and enhanced user experiences on any device in order to serve the next generation renter.

“The work entered in the 22nd Annual Communicator Awards serves as a benchmark in gauging the innovative thoughts and capabilities of communications and marketing professionals around the world. Each year, our entrants continue to amaze by reinventing the ways we communicate and market in an ever-changing industry,” Linda Day, the executive director of the Academy Interactive and Visual Arts, elaborated. She added, “On behalf of the entire Academy, we want to congratulate this year’s Communicator Award Entrants and Winners for their passion and dedication.  We are honored to be given the opportunity to recognize such outstanding work.”

In response, 365 Connect Founder and CEO, Kerry W. Kirby, stated, “365 Connect is pleased to have its technology platform acknowledged on an international level, and we are truly honored to receive these highly acclaimed awards. We are driven to deliver leading-edge technology to enhance marketing efforts, simplify onboarding experiences, and increase retention rates. These awards emphasize our dedication to meeting our clients’ needs of optimizing lead flow, reducing marketing spend, and delivering communication tools and services to residents.”

To date, 365 Connect has received a total of 39 national and international technology awards. The 365 Connect Technology Platform is highly recognized by its peers for its unique ability to market communities on high traffic sites across the Internet, automate social media postings, and deliver desktop and mobile platforms where prospects and residents alike can transact business. Today, 365 Connect’s innovative technology platforms are utilized across the nation by the most respected national, regional, and local multifamily housing operators.

Powered by WPeMatico

SEATTLE, WA – Denver, Seattle and Portland, Oregon are the hottest real estate markets so far in 2016, according to Redfin, the next-generation real estate brokerage. In its latest report, Redfin measured housing markets’ hotness based on the percentage of listings designated as Hot Homes, those likely to go under contract within 14 days according to the company’s proprietary Hot Homes algorithm. In Denver, Seattle and Portland, more than 60 percent of homes listed so far this year were Hot Homes, outpacing all other markets Redfin tracks.

A limited supply of homes for sale has led to strong demand from homebuyers in these markets, accelerating the pace at which homes sell. In April 2012, a typical home in Denver found a buyer in 36 days. In Portland it was 65 days and in Seattle it was 50. This April, the median time on market fell to 10 days in Denver, and eight days in both Seattle and Portland.

In Denver, it is not unusual for a home to have more than 100 showings in a single weekend, with sellers having their pick of up to 30 offers, reports Redfin agent Karla Kirkpatrick Adams.

“The market is moving so quickly that I can no longer use recent sales as a guide for what my clients should offer on a home. Instead, I call listing agents of similar homes that are under contract but haven’t yet sold. I question them the contract price, which is a more up-to-date reflection of the current market than the prices of homes that have already sold. That way, I can advise my clients accurately,” said Kirkpatrick Adams.

In all three metros, home prices are shooting up quicker than the national pace, though Portland and Denver remain relatively affordable compared to other hot markets.

“Strong job growth and relatively affordable home prices have been lightning rods of buyer demand for Denver and Portland,” Redfin chief economist Nela Richardson said. “Their economies have a lot in common with the tech enclaves to the west, Seattle and San Francisco, but there’s a huge difference—home prices.”

The typical home in Denver and Portland costs an incredible $850,000 less than a home in San Francisco. Portland and Denver also offer a respite from Seattle, where homes typically sell for around $90,000 more than in those two cities.

“The combination of jobs, affordability and a desirable western lifestyle is a triumvirate that buyers are flocking to this year,” Richardson said.

To read the full report, complete with charts, in-depth statistics and anecdotes, please visit Redfin.com

Powered by WPeMatico