California RealEstateRama

Orange County, CA - May 31, 2012 - (RealEstateRama) -- Mitch Zehner and Seth Davenport of Voit Real Estate Services’ Anaheim office have directed the five-year lease renewal of a 20,000 square-foot industrial building for a total consideration of $561,300 on behalf of the lessor. Located at 527 Fee Ana Street in Placentia, Calif., this warehouse property will continue to be fully occupied by CMI Precision Machining, a company that specializes in cnc machinery and related products, according to Mitch Zehner, Executive Vice President in Voit’s Anaheim office.

WASHINGTON, D.C. - May 31, 2012 - (RealEstateRama) -- Californians need Attorney General Harris’ Homeowner Bill of Rights to fix mortgage lending abuses and speed economic recovery. But lobbyists fighting it in Sacramento have now enlisted mortgage bankers from around the country to help them defeat it.

COMMERCE, CA - May 30, 2012 - (RealEstateRama) -- David Fults and Brian McLoughlin of Voit Real Estate Services’ Greater Los Angeles office have successfully completed the new, seven-year, $1.6 million lease of a 47,500 square-foot industrial warehouse at 6655 East 26th Street in Commerce, CA on behalf of the lessee. This free-standing industrial facility will be fully occupied by Insul-Therm International, Inc., a company that manufactures and distributes insulation products for the industrial and commercial insulation markets, according David Fults, a Senior Vice President in Voit’s Greater Los Angeles office.

May 24, 2012 - (RealEstateRama) -- Mayor Edwin M. Lee today announced the introduction of a Housing Trust Fund Charter Amendment to the Board of Supervisors to protect family housing in San Francisco. If adopted by the Board and approved by voters, a permanent source of revenue would fund the creation of housing that is affordable to low and moderate households in San Francisco for the next 30 years. The measure is expected to go before voters in November.

CUPERTINO, CA - May 24, 2012 - (RealEstateRama) -- Melissa Lindt, international luxury real estate expert has joined Intero Real Estate Services. Born in Switzerland, Melissa brings a global perspective to the San Francisco Bay Area and a decade of focusing on the high-end luxury market to Intero. “Adding someone with such diverse experience in the luxury market pushes us farther in expanding, not only the Intero brand, but our Intero Prestigio division,” says Gino Blefari, CEO and President of Intero Real Estate Services

TRAVIS AIR FORCE BASE - May 21, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris and Holly Petraeus, Director of the Office of Service Member Affairs at the Consumer Financial Protection Bureau (CFPB), today met with Airmen and their families to discuss the financial difficulties they face, especially as they relate to the foreclosure crisis.

NEWPORT BEACH, CA - May 21, 2012 - (RealEstateRama) -- Mark Lucescu, President of LUCESCU REALTY, a market leading investment real estate services firm, announced today the sale of Lake Pleasant Pavilion Shopping Center in the City of Peoria in the Phoenix, Arizona metro area for $41.75 million. LUCESCU REALTY exclusively represented the interests of the seller, Kornwasser Shopping Center Properties, a private development firm, headquartered in Los Angeles, California, and procured the buyer, Excel Trust, a publicly-traded real estate investment trust, located in San Diego, Calif. This is Excel’s second acquisition in the Valley. Earlier this year the Company acquired Scottsdale Promenade for $166 million in a deal that was also brokered by LUCESCU Realty

Washington, DC - May 17, 2012 - (RealEstateRama) -- Senator Dianne Feinstein (D-Calif.) today introduced the Expanding Refinancing Opportunities Act of 2012, a bill to allow more homeowners the chance to refinance mortgages with insurance provided by the Federal Housing Administration (FHA). The proposal applies to mortgages not already guaranteed by federal housing authorities such as Fannie Mae, Freddie Mac and FHA.

SACRAMENTO, CA - May 17, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris today testified in support of the California Homeowner Bill of Rights, a package of legislation designed to protect homeowners from unfair practices by banks and mortgage companies and to help families and communities cope with the state's urgent mortgage and foreclosure crisis.

Washington, D.C. - May 17, 2012 - (RealEstateRama) -- U.S. Senators Robert Menendez (D-NJ) and Barbara Boxer (D-CA) will today introduce legislation to help millions of responsible homeowners refinance at lower rates and save thousands of dollars each year – a measure that would help check off a main element of President Obama’s “to do list” for Congress. Earlier this week, Obama called on Congress to act on a number of measures to create jobs and restore security for middle class families, including housing refinance legislation. The President will underscore the importance of helping homeowners refinance when he travels to Nevada tomorrow.

La Jolla, CA - May 17, 2012 - (RealEstateRama) -- Southern California’s median sale price rose year-over-year in April for the first time in 16 months, reflecting stronger, affordability-driven demand and a slimmer inventory of homes for sale – especially low-cost foreclosures. Last month’s sales were modestly higher than a year ago, thanks to significant gains in the coastal counties, but remained well below average, a real estate information service reported.

May 16, 2012 - (RealEstateRama) -- California's dire budget situation claimed a new casualty in the governor's May Revise yesterday: $410 million in bank penalty funds from the National Mortgage Settlement intended to assist California homeowners. The governor instead proposed to use the funds to reduce the state's deficit rather than to help borrowers access settlement programs.

MAY 2012, SALISBURY, MD - May 15, 2012 - (RealEstateRama) -- Sperry Van Ness – Miller Commercial Real Estate is pleased to announce Henry Hanna, CCIM, SIOR was awarded the SVN Ambassador Award at the 2012 National Conference in San Diego, CA. This is awarded each year to one advisor who represents Sperry Van Ness to the public and to the real estate community across the country.

NEWPORT BEACH, CA - May 10, 2012 - (RealEstateRama) -- JG Construction, a Chino, Calif.-based commercial/retail contracting firm, has begun demolition of existing structures and site preparation under a construction contract for Newport Place, a 12,351 square-foot retail center at 4221-4225 MacArthur Blvd

NEWBURY PARK, CA - May 8, 2012 - (RealEstateRama) -- NAI Capital’s Fred Ferro with the Ventura County office and Timothy P. Foutz , with the Encino office, represented the Seller, C-F Investment Company, in the sale of a 53,650 SF industrial property located at 2651 Lavery Court to the Buyer, Martin W. Foreman. The value of the sales transaction was over $3.8 million.

LOS ANGELES, CA - May 8, 2012 - (RealEstateRama) -- Commercial real estate investment banking firm George Smith Partners has announced the addition of Stephen Stein as a Vice President for the company, strengthening its ability to help clients select and craft capital structures which best suit their needs, according to Steve Bram, Principal and Managing Director of George Smith Partners.

IRVINE, CA - May 7, 2012 - (RealEstateRama) -- Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the sale of retail properties, announced today that Eric P. Wohl and Edward B. Hanley have launched HIG NNN, a new division of Hanley Investment Group, specializing in the sale and advisory of single-tenant net lease properties across the United States

LOS ANGELES, CA - May 4, 2012 - (RealEstateRama) -- Commercial real estate investment banking firm George Smith Partners has successfully arranged financing on behalf of its client ADC Realty Group (ADC) for the acquisition and construction of a 95-unit, multifamily property in West Los Angeles. The financing included $11.115 million in joint venture and construction equity, according to Vice President, Jonathan Lee. Lee was assisted by George Smith Partners’ Analyst Shine Cheng.

IRVINE, CA - May 3, 2012 - (RealEstateRama) -- Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment sales groups in the western United States and a market leader in the sale of retail properties, announced today that Edward B. Hanley and Eric P. Wohl have exclusively listed for sale a trophy 24,191-square-foot multi-tenant retail center along Pacific Coast Highway in Newport Beach, Calif. The property is offered for sale unpriced.

San Diego, CA - May 3, 2012 - (RealEstateRama) -- Voit Real Estate Services’ San Diego office has completed the sale of 24 office/industrial/flex condos encompassing 65,000 square feet in the Venture Commerce Center in Oceanside, Calif. on behalf of the seller for a total consideration of $6.25 million.