Google has done it again! They just purchased a minority stake in Auction.com for a cool $50 million! With this purchase, Auction.com is now valued at $1.2 Billion! Here’s the snip from SFGate.com..
March 5 (Bloomberg) — Google Inc.’s new investment arm is buying a minority stake in Auction.com LLC, the largest U.S. online real estate auction firm, for $50 million.
The investment by Google Capital, which expects to spend about $300 million this year to back late-stage companies, is the first in a real estate venture for the unit of the Mountain View, California-based Internet search firm. The deal values Auction.com at $1.2 billion, the Irvine, California-based company said today in a statement.
“Like EBay kind of drove transparency and created a marketplace for hard-to-find items, Auction.com is creating transparency in part of the real estate market,” David Lawee, head of Google Capital, founded last year, said in a telephone interview. “Here, you can go on to a site and see thousands of properties that are listed for sale that would be great investment opportunities.”
Read more: http://www.sfgate.com/business/bloomberg/article/Google-Invests-50-Million-in-Online-Property-5290520.php
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Downtown Santa Monica is located on the west side of Santa Monica in the Santa Monica Beach area. Santa Monica Pier, Third Street Promenade, and the Santa Monica Place are all located in Downtown S.M. The area is South of Wilshire Boulevard and north of Pico Blvd. and east of Lincoln Blvd.
Other notable places in Downtown Santa Monica is Santa Monica City Hall, Santa Monica Farmers Market, Santa Monica Civic Auditorium and the Santa Monica Police Department.
The Third Street Promenade is an upscale shopping, dining and entertainment complex in the downtown area of Santa Monica, California. It is considered a premier shopping and dining district on the Westside and draws crowds from all over the Greater Los Angeles Area. Due to its proximity to the Pacific Ocean coupled with Los Angeles’s mild climate, it is also a popular tourist destination.
The Santa Monica Pier is a large double-jointed pier located at the foot of Colorado Avenue in Santa Monica, California and is a prominent, 100-year-old landmark. The pier contains Pacific Park, a family amusement park with a large..
Congratulations to Pacific Palisades’ newest resident, Star Wars Director J.J. Abrams! If luxury real estate were a movie, J.J. Abrams may have another blockbuster on his hands.
Rumor has it that the acclaimed writer, director and producer has made a major home splash in the Los Angeles neighborhood of Pacific Palisades. Celebrity sleuth The Real Estalker brings word that Abrams recently closed on a stately “Connecticut Traditional” estate in the exclusive area known as The Riviera, which includes the famous Riviera Country Club.
The two-time Emmy Award winner is said to have paid just short of $14.47 million for the 8,030-square-foot home. The property first appeared on the market in November with an asking price of $15.35 million and was listed as “Sale Pending” in December before being pulled from the market.
Built in 1995, Abrams’ new home shows off a cream-colored exterior with green shutters and a Vermont slate roof. With a grand, two-story foyer inside its front door, the home has seven bedrooms, eight baths, an office, a gym and a wine cellar. A gourmet kitchen has a large center island, and the master suite boasts a sitting area with French doors that open onto a private deck with a fireplace.
Here are the Recently Sold Homes in Pacific Palisades:
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