Ashkenazy Acquisition Corp., a firm owned by investor Ben Ashkenazy, has acquired the two-city block Neiman Marcus site on Wilshire Boulevard in Beverly Hills.
Ashkenazy now bills itself as the largest owner of premier retail space in Beverly Hills, with 350,000 square feet of retail that also include the former Barneys Building.
Here's what we're reading this week:
Appeals court affirms federal judge’s order to build housing on the VA’s West Los Angeles campus "The ruling invalidates commercial leases, including the Brentwood School’s sports complex, but overruled the lower court’s invalidation of UCLA’s lease for its baseball stadium." (LA Times)
Pimco, Witkoff Firm Default on $400 Million LA Apartment Complex "The loan is linked to The Park Santa Monica, a 249-unit development at 500 Broadway in the heart of the beach city’s downtown, according to a website for the property." (Bloomberg)
View of The Grand looking north from Grand AvenueHunter Kerhart Architectural Photography
Downtown L.A.’s struggle is overstated and fixable, says the mogul who built the Grand "Real estate mogul Bill Witte retires after 30 years leading Related California, a major West Coast developer that built over 21,000 residential units." (LA Times)
Trader Joe’s grabs Santa Monica Rite Aid for $22M "Trader Joe’s just made a pricey Santa Monica land play, snapping up a former Rite Aid along Wilshire Boulevard as it continues to expand in Southern California and scoop up drugstore boxes left behind by bankrupt chains." (TRD)
The new 2026 housing laws that LA renters and landlords need to know Refrigerators, fire damage, streamlining, and rent control (LAist)
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