BEVERLY HILLS, CA—A rare opportunity to acquire an apartment building in the Beverly Hills submarket leads to a bidding war, ending with the buyer paying well over the asking price.

LOS ANGELES—With all of the capital in the market, lenders are getting more and more competitive—but Robert Hodge of Marcus & Millichap says that only a select few borrowers are getting high-leverage deals.

LOS ANGELES—Five tenants sign leases at 617 W. 7th Street in Downtown Los Angeles bringing the occupancy of the creative office building to 88%.

TORRANCE, CA—A joint venture between the Muller Co. and GreenOak Real Estate acquires the 367,000-square-foot complex with plans to reposition the property into a mixed-use complex called Del Amo Crossing.

SANTA MONICA, CA—Three new restaurant leases inked at Ocean Avenue South show that the demand for restaurants in Santa Monica is higher than ever, with retail vacancies reaching 2.8%.

LOS ANGELES—The Souferian Group sells its newly renovated office property in the 3rd Street District for $556 per square foot, a total of $19.6 million, showing that pricing for all asset types is reaching toward record highs.

LOS ANGELES—The very high development volume across property types is leading to a shortage in quality labor and to rising costs, Lydia Tan of Bentall Kennedy, tells GlobeSt.com.

LOS ANGELES—The Los Angeles County Board of Supervisors votes 4-1 to approve a new Antelope Valley Area Plan, which will rezone an unincorporated area of Los Angeles County to guide development and conservation.