Asian investors alter skyline of LA, enter retail businesses

Asian investment, including billions of dollars from China, is changing the skyline of downtown Los Angeles. Investors have begun to diversify away from low-risk properties and into sectors such as retail and development projects, expanding their search outside gateway cities.

Industry insiders discussed the trend in the booming Southern California real estate market at a panel discussion at the SELECT LA Investment Summit, an international trade event on Friday in Los Angeles that drew some 250 participants from 30 countries and regions.

The face of Los Angeles has changed dramatically in recent years, said Hilda Solis, a member of the Los Angeles County Board of Supervisors, in her keynote speech.