Luxe City Center Hotel in L.A. is sold for $105 million

Shenzhen Hazens Real Estate Group has acquired the 178-room Luxe City Center Hotel and two adjacent lots in Los Angeles for $105 million. The Chinese investment firm reportedly plans to redevelop the hotel into a more upscale property and spend a further $250 million on developing office space and condominium units on the adjoining land. Read the Los Angeles Business Journal story here

Industry News

Vendor News

Norco Constr. promotes Erik Rappel to COO

General contractor, construction manager and design/builder Norco Construction promoted Erik Rappel to Chief Operating Officer. He most recently served as Norco’s Vice President of Operations, after originally joining the firm in 2017

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Vendor New Products

BITEC Expands Imperflex Line with New Base Sheet

BITEC, Inc. will be introducing its Imperflex® SA2 two-square self-adhered base sheet at the International Roofing Expo (IRE) in February, in response to contractor requests for a two-square option for installing BITEC’s popular Imperflex self-adhered

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