Reuben Brothers’ Jordana Yechiel On the Firm’s Big Bet on Century City
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. Los Angeles is working asset-by-asset through an extended office reset. Hospitality on the West Side and selective industrial in the South Bay are where capital is currently moving; downtown Class B remains in price discovery. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The fourth Los Angeles story tracked on the wire in September 2026. All Los Angeles coverage →
- Disclosed office deal value tracked in September 2026: $14.7B across 78 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
Century City has long been one of Los Angeles’ most concentrated office districts, but Reuben Brothers is betting that the area’s next chapter will look far more residential, experiential and luxury-driven. At Century…
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