Los Angeles Pitches to NY Investors

Article By Bob Howard Via GlobeSt

LOS ANGELES-The growing momentum of development in Downtown Los Angeles prompted local officials to court New York investors last week with the local group's third trade mission in six years. A delegation of business and political leaders took their story to a gathering of prospective investors in New York City to make their pitch for investing in Downtown Los Angeles commercial real estate projects.

Hosted by the Downtown Center Business Improvement District, the trade mission was led by Eli Broad, philanthropist and founder-chairman of KB Home and SunAmerica Inc. who is active in a number of Downtown Los Angeles initiatives. The contingent met with more than 100 Wall Street investment bankers, real estate investors and financiers to tell the Downtown Los Angeles story.

Among the locals' messages: Housing is booming, the office market is strong and retail is growing in the city's center.

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