California RealEstateRama

IRVINE, CA - March 8, 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 Hanley Investment Group negotiated the sale of two single-tenant Walgreens for a total consideration of more than $13 million.

LOS ANGELES, CA - March 8, 2012 - (RealEstateRama) -- More than 800 people have already submitted applications to live at Lorena Heights Apartments, a new income-eligible housing community in Boyle Heights that had its official grand opening celebration today. The ribbon-cutting ceremony, hosted by The Michaels Organization and its non-profit development partner LINC Housing, was attended by Los Angeles Councilmember José Huizar (14th District) among other dignitaries, community leaders, and residents who celebrated the opening of this much-needed affordable housing in an important East Los Angeles neighborhood.

LOS ANGELES, CA - March 8, 2012 - (RealEstateRama) -- More than 800 people have already submitted applications to live at Lorena Heights Apartments, a new income-eligible housing community in Boyle Heights that had its official grand opening celebration on March 7, 2010. The ribbon-cutting ceremony, hosted by The Michaels Organization and its non-profit development partner LINC Housing, was attended by Los Angeles Councilmember José Huizar (14th District) among other dignitaries, community leaders, and residents who celebrated the opening of this much-needed affordable housing in an important East Los Angeles neighborhood.

SAN FRANCISCO, CA - March 7, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris today, as part of National Consumer Protection Week, warned California homeowners to beware of phone solicitations from scam artists claiming to provide assistance related to the recent national mortgage settlement

Washington, DC - March 7, 2012 - (RealEstateRama) -- Congressman Mike Thompson (CA-1) today announced that The Port of West Sacramento has been awarded a grant of more than $960,000 from the Federal Railroad Administration (FRA) for construction of a rail loop track that will increase freight capacity and handling efficiency.

IRVINE, CA - March 6, 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 William B. Asher and Jeremy S. McChesney represented the buyer in the sale of a single-tenant NNN leased investment, Walgreens in Tucson, Ariz. The purchase price was $5,190,000, representing a 6.70% capitalization rate.

LAGUNA HILLS, CA - March 6, 2012 - (RealEstateRama) -- Seventeen top community association professionals from around the state have been elected to the 2012 board of directors for the California Association of Community Managers (CACMSM). Charged with establishing and overseeing the statewide association’s programs and policies, the board upholds CACM’s code of ethics and standards of practice. The group also serves as an advisory body for CACM’s educational and certification program for community managers.

TUSTIN, CA - March 5, 2012 - (RealEstateRama) -- Gregory A. Fisher, President of Present Value Properties, Inc., a full service retail real estate brokerage and consulting firm headquartered in Tustin, Calif., announced today that the firm has hired Annette Kolb as Director of Real Estate. She will be responsible for the real estate needs of national chain retailers including Pizza Hut, Long John Silver and Jack in the Box franchisees located in Phoenix, Dallas and Missouri. She will handle lease extensions/renegotiations, new locations and relocations and be based in Phoenix.

February 29, 2012 - (RealEstateRama) -- Councilmember Steven Neal, 9th District, The Long Beach Housing Development Company (LBHDC) and developer/property manager Abode Communities announced $25.8 million in renovations to Evergreen Apartments, three affordable housing developments with a total of 81 units throughout the City of Long Beach.

SACRAMENTO, CA - February 29, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris today announced the California Homeowner Bill of Rights designed to protect homeowners from unfair practices by banks and mortgage companies and to help consumers and communities cope with the state's urgent mortgage and foreclosure crisis

Washington, DC - February 28, 2012 - (RealEstateRama) -- Amid the continuing national foreclosure crisis that has impacted millions of Americans, a unilateral decision by Federal Housing Finance Agency (FHFA) to block all forms of principal write-down for loans backed by Fannie Mae and Freddie Mac has prevented the housing market from recovering more quickly, said U.S. Reps. George Miller (D-Martinez) and Mike Thompson (D-St. Helena), who today ramped up pressure on the FHFA to reverse the decision that has stymied a more buoyant housing recovery.

Chicago, IL - February 28, 2012 - (RealEstateRama) -- CostaBaja, the highly acclaimed beachfront resort community in La Paz, Baja California Sur, Mexico (www.CostaBaja.com) announced today it has retained DCP International (DCP), pioneers of the residence club real estate concept, to consult on the structuring, marketing and sale of its new fractional ownership opportunity. The Residence Club at CostaBaja is the first and only residence club to be offered in La Paz.

LOS ANGELES, CA - February 28, 2012 - (RealEstateRama) -- Commercial real estate investment banking firm George Smith Partners has successfully arranged two loans, totaling $25 million in financing for Upside Investments, LP., for its Carriage Square Shopping Center in Oxnard, Calif. according to Principal and Managing Director, Steve Bram and Senior Vice President, David Pascale. The two permanent loans replaced a construction loan which had allowed Upside Investments to complete a redevelopment of the 173,000 square-foot outdated shopping center. George Smith Partners had previously arranged the original construction financing for the center in November 2010

LOS ANGELES, CA - February 28, 2012 - (RealEstateRama) -- Raintree Partners, a Laguna Niguel, Calif.-based real estate investment and development company, has completed the acquisition of two luxury vacant condominium projects, Vista Paradiso and Villa Sofia, totaling 63 units in the county of Los Angeles, Calif. which the firm will, for the time being, hold and manage as condo units to be rented. This $24.2 million acquisition brings Raintree’s holdings in California to 15 multifamily communities, consisting of 2,057 units, according to Jeff Allen, CEO of Raintree Partners

SANTA MONICA, CA - February 24, 2012 - (RealEstateRama) -- Morley Builders is celebrating its 65th anniversary by opening a new eco-friendly office, demonstrating its commitment to the City of Santa Monica and sustainable construction.

IRVINE, CA - February 23, 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 Kevin T. Fryman represented the seller in the sale of a single-tenant NNN leased investment, La Barca Restaurantes, a 3,664-square-foot restaurant in Pico Rivera, Calif., offering authentic, fresh-made Mexican food. The purchase price was $1,400,000, which represented a cap rate of 6.50%. The tenant has 7 years remaining on the lease.

February 22, 2012 - (RealEstateRama) -- United States Attorney Laura E. Duffy announced the unsealing of an indictment today charging a local real estate agent, Eric Elegado, and eight other mortgage industry professionals—Charmagne Elegado, Theodore Cohen, Minh Nguyen, Regidor Pacal, Alexander V. Garcia, Roman Macabulos, Ramin Lotfi, and Roderick Huerto, with multiple counts of conspiracy, wire fraud, money laundering, and criminal forfeiture. According to court proceedings, these defendants engaged in a multi-million-dollar mortgage fraud scheme that targeted vulnerable, low-income immigrants in San Diego. All of the defendants were arraigned today in federal court before U.S. Magistrate Judge William McCurine, Jr.<

SAN DIEGO, CA - February 15, 2012 - (RealEstateRama) -- Three individuals charged with conspiracy to commit wire fraud and mail fraud for their roles in operating a fraudulent mortgage loan modification business pled guilty today in federal court in San Diego, announced United States Attorney for the Southern District of California Laura E. Duffy. According to the plea agreements, Ziad Nabil Mohammed Al Saffar and Sara Beth Bushore Rosengrant admitted that they operated the fraudulent loan audit and modification business, located in San Diego, California, under the names “Compliance Audit Solutions, Inc.” (“CAS”) and CAS Group, Inc., (“CAS Group”). Daniel Al Saffar admitted that he worked as a sales representative in connection with the operation.

SOUTHERN CALIFORNIA, - February 15, 2012 - (RealEstateRama) -- Voit Real Estate Services has directed seven transactions in Southern California totaling 277,845 square feet for a total consideration of $11.2 million.

IRVINE, CA - February 15, 2012 - (RealEstateRama) -- Sperry Van Ness / SVN Management, Inc. held its quarterly Broker Forum event on January 31, 2012 at The Pacific Club in Newport Beach, Calif. With more than 150 guests in attendance, the free, networking event attracted brokers from various companies who shared their listing inventory with fellow attendees.