Property, Rentals, Transactions

Property, Rentals, Transactions
Sacramento_SouthgatePlaza_walmart

CBRE’s Philip D. Voorhees and NRIG-West Team Complete Sale of Southgate Plaza in Sacramento,...

CBRE Executive Vice President Philip D. Voorhees announced today that he, Jimmy Slusher and their National Retail Investment Group – West (NRIG-West) team completed the sale of Southgate Plaza, a 339,369-square-foot grocery-anchored shopping center in Sacramento, Calif., leased to three high-performing grocers, Walmart Neighborhood Market, 99 Ranch Market and 99 Cents Only, along with a complementary mix of co-tenants including, Ross Dress for Less, Skechers, Baskin Robbins, Sally Beauty, Payless Shoe Source, Chase Bank, Farmer & Merchants Bank, Taco Bell, H&R Block and others.

California REALTORS® commend FHFA for raising Fannie Mae and Freddie Mac conforming loan limits

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today issued the following statement in response to the Federal Housing Finance Agency’s (FHFA) announcement to increase the 2017 conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac to $424,100 on one-unit properties and a cap of $636,150 in high-cost areas. The previous loan limits were $417,000 and $625,500, respectively.

California pending home sales expand in October

Led by the Southern California region, California statewide pending home sales grew modestly in October from the previous year and were down from September as the market begins its seasonal cooldown, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

CIT Group Accused of Redlining and Violating Fair Housing Act

Yesterday, two nonprofit organizations formally filed a complaint requesting that the federal Department of Housing and Urban Development (HUD) investigate whether CIT Group violated and continues to violate the Fair Housing Act through its subsidiary, OneWest Bank. In 2014, CIT Group applied to acquire OneWest Bank, and after receiving regulatory approvals, the merger was completed in August, 2015

California home sales and median price post higher in October

Bolstered by healthy sales activity in Southern California and the Central Valley, California existing home sales and median price gained ground in October on a month-to-month and year-over-year basis, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Steve Patterson

Central Valley Builders Supply Doubles Down With Simpson Strong-Tie

In an environment that is experiencing changing demographics, a shrinking workforce, and reduced spending, the conventional wisdom is that brick and mortar retail building supply companies should be shying away from the big box format, opting instead for smaller formats with leaner inventories.

Counter to Utility Claims, Solar Users Provide Net Benefits

Solar panels provide pollution-free energy that delivers far-reaching benefits to the environment and the electric grid, said a new report released today by Environment California Research & Policy Center. The report outlines how solar panels on homes, schools and businesses often provide more benefits than they receive through programs like net metering, counter to utility claims that solar owners don’t pay their fair share

California housing affordability holds steady in third quarter as rising wages and lower interest...

Rising wages and slightly lower interest rates did little to improve California’s housing affordability, which remained flat compared to the previous quarter, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Meridian Palmdale

Meridian Sells Dialysis Clinic in Palmdale, Calif. for $6.97 Million, 5.0% Cap Rate

Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that it has closed escrow on the sale of its 13,750-square-foot dialysis clinic in Palmdale, Calif. The purchase price was $6.97 million, representing a cap rate of 5.0%. This is the second dialysis clinic that Meridian has sold this year. Earlier this year, Meridian sold a similar clinic in San Rafael, Calif.

C.A.R. installs 2017 Leadership team

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today installed its 2017 Leadership Team. Leading the team is C.A.R. President Geoff McIntosh, a 30-year real estate veteran and broker in Southern California. Serving with McIntosh are President-elect Steve White, Treasurer Jared Martin, and Chief Executive Officer Joel Singer. The 2017 officers begin their official term this week at the close of the NATIONAL ASSOCIATION OF REALTORS® (NAR) Conference and Expo in Orlando, Fla.
Christine Velasquez

Meridian Expands Construction Division with Addition of Christine Velasquez as Project Manager

Meridian, a full-service real estate developer specializing in acquiring and developing real estate facilities for the healthcare sector, expands its construction project management division with the addition of Christine L. Velasquez, a well-respected senior-level real estate professional with a successful track record of over 15 years in business and community development, commercial real estate and project management in the Silicon Valley.
Solaris Apartments

Thompson | Dorfman Partners Doubles its Money on Sale of Apartment Community in Hayward,...

Thompson | Dorfman Partners, LLC (TDP), a San Francisco Bay Area real estate development and investment firm, through its TDT Ventures (TDT) subsidiary, and equity partner, BayNorth Capital of Boston, announced today that the venture sold a 68-unit apartment community in Alameda County, Calif., for $14,268,000, representing $209,824 per unit; $307 per square foot. TDT purchased Solaris Apartments in 2008 for $7.1 million.
Michelle Lagos

Healthcare Landlord Leasing Specialist Michelle Lagos Joins Meridian as Senior Asset Manager

Meridian, a full-service real estate developer specializing in acquiring and developing real estate facilities for the healthcare sector, announced today that healthcare leasing specialist Michelle Lagos was hired as the senior asset manager and will play an active role in the management of Meridian’s Southern California portfolio

C.A.R. Convenes “Housing Affordability and California’s Future” Real Estate Summit with Leading Experts in...

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) will present its second real estate summit at an event that will focus on housing affordability, the state’s most pressing housing issue. Industry leaders from financial institutions, government agencies, academia, real estate, public policy, business, and investing will engage in deliberate and impactful discussions with the goal of generating cogent action items for the state of California via the valuable input of stakeholders and thought leaders

California State Historical Resources Commission To Consider 25 Properties for Action

SACRAMENTO, Calif. - (RealEstateRama) -- The California State Historical Resources Commission (Commission) will consider 24 nominations for federal historic designation and one nomination for...

Amid declining affordability and tight housing supply, California pending home sales rise in September

California pending home sales improved from the previous month and year, however, overall market conditions appear to be slowing down and closed transactions plateauing, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
South Lake Ave Aerial

Hanley Investment Group Lists Rare Five-Acre Fee-Simple Ground Lease on South Lake Avenue in...

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm is marketing for sale a rare fee-simple ground-lease opportunity on South Lake Avenue in Pasadena, Calif. The offering, which is currently unpriced, is for the fee-simple land underlying The Shops on Lake Avenue retail and parking and is shadow-anchored by Macy’s.
Evelyn Family Apts

ROEM Brings 116 New, Affordable, Multifamily Apartments to Mountain View

ROEM Development Corporation celebrated the groundbreaking of Evelyn Family Apartments on Wednesday, October 19. Located at the southwest intersection of East Evelyn Avenue and South Bernardo Avenue in the City of Mountain View, Evelyn Family Apartments will be an affordable multifamily apartment community on a 1.93 acre site. The development will offer studio, one, two and three-bedroom apartments to families making up to 60 percent of the Santa Clara County Area Median Income.

September home sales and price report

California existing home sales ticked up in September on a year-to-year basis for the first time in seven months as a shortage of homes available for sale continues to hold back the market, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Krispy3a

Hanley Investment Group Lists For Sale Brand New Two-Tenant NNN Retail Property in Oxnard...

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm is marketing for sale a newly-constructed two-tenant retail building occupied by WSS (Warehouse Shoe Sale) and Krispy Kreme Doughnuts, located at the signalized intersection of Vineyard Avenue and Riverpark Boulevard in Oxnard, Calif

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CONGRESSMAN LIEU STATEMENT ON OPENING OF BUILDING 209 ON WEST LOS...

Congressman Ted W. Lieu (D | Los Angeles County) released the following statement regarding the Ribbon Cutting for the newly open Building 209 on the West Los Angeles VA Campus, the first permanent supportive housing development created on the West Los Angeles VA Campus.

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CONGRESSMAN LIEU STATEMENT ON OPENING OF BUILDING 209 ON WEST LOS...

Congressman Ted W. Lieu (D | Los Angeles County) released the following statement regarding the Ribbon Cutting for the newly open Building 209 on the West Los Angeles VA Campus, the first permanent supportive housing development created on the West Los Angeles VA Campus.