Fire breaks out at SaMo building involved in Neil Shekhter and AEW’s legal battle

Investigators are working to determine the cause of a power vault explosion in the parking garage

TRD LOS ANGELES /
May.May 10, 2017 01:30 PM
Lincoln Boulevard apartments, Neil Shekhter (Google Maps)

A fire damaged a Santa Monica apartment building that is part of a legal battle between developer Neil Shekhter’s firm NMS Properties and its former joint venture partner AEW Capital Management.

The fire was caused by an underground electrical vault, which exploded in the parking garage on Monday.

Thirty-four Santa Monica Police officers and firemen arrived and extinguished the flames in 20 minutes, Santa Monica Observed reported.

Residents have been evacuated from the five-story, mixed-use apartment building and parking garage at 1447 Lincoln Boulevard. It is unknown when they will be allowed to return.

None of the units were affected by the fire and investigators are working to determine the cause, said Captain Patrick Nulty of the Santa Monica Fire Department.

The building is temporarily under the management of Lincoln Property Co. A judge ordered the firm to step in and assume the day-to-day operations at the building until the legal battle between Shekhter and AEW is resolved. The rent it collects will go into an escrow fund until a resolution is reached.

Earlier this week, a Los Angeles judge indicated that she would deny Shekhter’s bid to avoid paying $6 million in fees to capital management firm AEW’s attorneys. [SMO]Subrina Hudson


Related Articles

arrow_forward_ios
Lightstone’s Eugene Rozovsky, Neil Shekhter and a rendering of 1650 Lincoln Boulevard

Lightstone provides $44M loan to Shekhter-owned WS Communities

Malibu Real Estate Investments principals Bedros Oruncakiel and Kirkor Suri

Malibu spec mansion lists amid softening luxury market

Chandler Parsons and his property on Stone Canyon Road (Credit: Getty Images)

Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion

CoreLogic's Andrew LePage and Orange County (Credit: Wikipedia)

SoCal housing market shows signs of life, with a caveat: report

Bridge Housing CEO Cynthia Parker and a rendering of the view from Walnut and Anaheim (Credit: SVA Architects)

Fully affordable complex set to rise in vacant Long Beach lot

Tracy Tutor and her Brentwood home

Tracy Tutor of “Million Dollar Listing ” asking a lot more for Brentwood home

Anton Lessine and 321 South Bristol Avenue, and Behati Prinsloo and Adam Levine with their home (Credit: Getty Images and Zillow)

This week in celeb real estate: Adam Levine unloads $45M home, a Hollywood film producer sells in Brentwood…and more

Anton Lessine and 321 South Bristol Avenue (Credit: Getty Images)

Hollywood producer Anton Lessine sells Brentwood Park mansion for $17M

arrow_forward_ios