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Brookfield, the New York-based firm that already controls much of the Downtown Los Angeles skyline, is expanding its reach to the Fashion District.

The Los Angeles Times reports that Brookfield has paid roughly $440 million to purchase a controlling stake in California Market Center from local firm Jamison Services, Inc.  The trio of interconnected 13-story buildings comprise 1.8 million square feet of floor area, making it the largest wholesale mart in Southern California.

Though once so popular that prospective tenants faced a multi-year waiting list, changing market conditions have now left the Market Center less than 50 percent leased.  Brookfield will look to attract new occupants by investing in upgrades to the property, including a modernization of the complex's street presence with new retailers.

Cosmetic improvements are to be implemented immediately, with more intensive upgrades to be completed by 2019.

California Market Center is located directly across the street from Broadway Palace, a two-building development from G.H. Palmer Associates which is already half-complete.

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Rendering vs. Reality: Eastview Apartments

Multifamily residential complex wrapping up work near DTLA.
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Just west of the Harbor Freeway, Lion Real Estate Group is now wrapping up construction at a new apartment complex overlooking the Downtown skyline. Eastview, as the property at 327-411 Boylston Avenue is known, consists of a seven-story building featuring 121 one- and two-bedroom apartments above parking for 145 vehicles.  Plans call for 14 of the residential units to be set aside as affordable housing.