The Commercial Real Estate Insider: Insights and Intelligence for Savvy Investors

EF Education First, a Switzerland-based international education company, has agreed to purchase the nearly 15-acre campus of William Carey International University in Pasadena. Terms were not disclosed. The property, with an address of 1539 E. Howard St., had been on the market since September, according to Keith Mathias, a principal at the Ventura-based RK Capital Real Estate Group that is WCIU’s broker. “We finalized the deal last night,” said Shawna Marino, vice president of EF Education First. The deal is expected to close in 16 months after EF obtains the required permits from the City of Pasadena. The company also acquired 16 residential properties along North Oxford Avenue and plans to use them to house faculty and staff, Marino said. It also acquired an adjacent soccer field. EF did not purchase 131 of the university-owned housing units, nor did it purchase the campus’s Hudson Taylor Hall, which is owned by religious interdenominational group Front...

PALM TREES LINE THE CITY STREETS OF THE CITY OF PALM SPRINGS, CALIFORNIA. GETTY IMAGES. Los Angeles is the second-least affordable city in the U.S., for both home renters and buyers, according to the 14th Annual Demographia International Housing Affordability Survey: 2018, a fact that has many heading east—more specifically to Palm Springs. SEE ALSO: Rael Development Nabs $55M Construction Loan for Palm Springs Hyatt A desert town located at the base of the San Jacinto Mountains, synonymous with midcentury modern architecture, Palm Springs may have been the playground of the Hollywood elite and retirees, but of late it has become a hotspot for hipsters, telecommuters and members of the LGBTQI community, all looking to reside full-time in a more reasonably priced and slower-paced locale. Moreover, serious real estate investors see the area’s potential: earlier this year The Desert Sun reported that BlackRock had picked up 167 acres of land wit...