Yearly Archives: 2011

LOS ANGELES, CA - May 24, 2011 - (RealEstateRama) -- A second man who was employed as an inspector with the City of Los Angeles Department of Building and Safety pleaded guilty this afternoon to federal bribery charges for taking thousands of dollars in bribes to approve work done at residential construction sites in South Los Angeles, even though the work had not been inspected.

FRESNO, CA - May 24, 2011 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced that United States District Judge Lawrence J. O'Neill sentenced Wrenl Burge, 40, of Fresno, to 41 months in prison and Albert Lewis Ellis, 46, also of Fresno, to 33 months in prison for a scheme to falsify mortgage loan documents. Burge was ordered to pay $1,011,524 in restitution, and Ellis was ordered to pay $548,178 in restitution to the mortgage lenders.

Torrance, CA - May 24, 2011 - (RealEstateRama) -- Lee & Associates, the nation’s largest broker-owned commercial real estate services firm, closed the $1.8 million sale of a 22,400-square-foot industrial property at 5217 Industry Ave., in Pico Rivera, Calif. Senior Vice Presidents Jeff Bethel of Lee & Associates’ City of Industry office and Peter D. Bacci of Lee & Associates-Central Los Angeles represented both the buyer and seller in the transaction. Daniels Western Meat Packers, Inc., a meat and food products supplier since 1953, purchased the property in an all cash deal from Burke & McCoy Family Trusts.

EUGENE, OR - May 24, 2011 - (RealEstateRama) -- IDX, Inc. and Marty Maradiaga have joined forces to present Southern California home seekers with access to thousands of up-to-the-second real estate listings. Maradiaga has adopted IDX Broker software, giving him the ability to host an innovative, five-tiered approach to the online property search process. The California Real Estate Technology Services (CARETS) database, which lists and displays thousands of area properties, is now seamlessly integrated and linked to the website of Maradiaga. The IDX enabled search page Maradiaga hosts has revolutionized the way potential California home buyers find homes online.

RIVERSIDE, CA - May 24, 2011 - (RealEstateRama) -- Real Estate Mortgage Network, Inc. (REMN), a national mortgage lender based in River Edge, N.J., continues to grow its retail presence in California with the addition of a new branch in Riverside. Coming on the heels of the company’s recent addition in San Diego, this new office will better help REMN service the Inland Empire’s future and existing home owners, real estate professionals, as well as residential builders.

Long Beach, CA - May 23, 2011 - (RealEstateRama) -- The Long Beach Housing Development Company (LBHDC) and Clifford Beers Housing, Inc. celebrated the grand opening of an innovative permanent supportive housing development for low-income households including homeless individuals living with mental illness. The Courtyards in Long Beach is a showcase for scattered-site development, comprised of four, single-story courtyard-style apartment buildings, rehabilitated to improve their respective neighborhoods and to provide housing solutions for diverse communities. The celebration was Thursday afternoon

Torrance, CA In a clear signal of the firm’s ongoing nationwide expansion and evolutionary growth, Lee & Associates, one of the nation’s largest commercial brokerage firms, has named its first CEO in its 32-year history. Industry veteran Edward J. Indvik, who has spent the past 20 years with Lee & Associates, steps into the role immediately after being selected CEO by Lee & Associates’ presidents in April.

Sylmar, CA - May 23, 2011 - (RealEstateRama) --Colliers International, the second largest global real estate services organization, recently completed two industrial deals in Sylmar, Calif. Brent Weirick, senior vice president based in Colliers International’s Encino office, handled both deals.

San Clemente, CA - May 20, 2011 - (RealEstateRama) -- Colliers International, the second largest global real estate services organization, has completed the sale of an eight multi-family units located at 1006-1008 Buena Vista St., San Clemente, Calif. The transaction is valued at $2.5 million.

Gardena, CA - May 20, 2011 - (RealEstateRama) -- Colliers International, the second largest global real estate services organization, has completed the sale of a 43, 242-square-feet retail shopping center located at 14950 – 15000 Crenshaw Blvd., Gardena, Calif. The transaction is valued at $2.55 Million.

WASHINGTON, DC - May 20, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced that it has charged a Las Vegas, Nevada, homeowners association and its management company with discriminating against families with children by restricting its housing to persons who are 55 and older. Specifically, HUD's charge alleges that Lakeside Village Homeowners Association and Castle Management & Consulting, LLC, did not take the proper steps required to make the community's age restriction legal.

SAN JOSE, CA - May 19, 2011 - (RealEstateRama) -- A federal grand jury in San Jose indicted Norma Valdovinos, Claudia Valdovinos, Linda Dung Tran, Elaine “Queenie” Ly, and Pablo Curiel, of San Jose, California, and Jesus Chavez, of Gilroy, California on May 11, 2011, with conspiracy to commit bank fraud, bank fraud, and making a false statement to a bank, United States Attorney Melinda Haag announced yesterday.

SAN FRANCISCO, CA - May 19, 2011 - (RealEstateRama) -- PCCP, LLC has announced that it has partnered with Signature Development Group to acquire Tralee Village, a nearly complete Class A apartment project in Dublin, California. Once complete the high-end, condominium quality apartment community located in the Bay Area will include 130 units. Over the coming months, Signature Development Group out of Oakland, California, will manage various aspects of project completion. PCCP will then transition the property to full-time third party property management in the fall of 2011. Pre-leasing is expected to begin in July with first occupancy for the completed units occurring in August.

Torrance, CA - May 19, 2011 - (RealEstateRama) -- The University of Southern California Ross Minority Program in Real Estate, a professional training program that teaches real estate fundamentals to individuals interested in creating positive change in emerging communities, is still accepting applications for its summer session that begins June 9.

San Francisco, CA - May 18, 2011 - (RealEstateRama) -- Mayor Edwin M. Lee today introduced a proposed $248 million bond measure for the November 2011 ballot that will repave streets and eliminate potholes in neighborhoods throughout San Francisco and seismically strengthen and repair deteriorating bridges, overpasses and staircases, all without raising property tax rates and subject to independent oversight and regular audits. Recommended as part of the citywide Ten-Year Capital Plan to improve and invest in the City’s infrastructure, the Road Repaving & Street Safety Bond will also improve streetscapes for pedestrian and bicyclist safety, improve traffic flow on local streets and install sidewalk and curb ramps to meet the City’s obligations under the Americans with Disabilities Act. The measure is co-sponsored by Supervisors David Chiu and Scott Weiner with Supervisors John Avalos, David Campos, Eric Mar, and Ross Mirkarimi also signing on.

PALM DESERT, CA - May 18, 2011 - (RealEstateRama) -- Sales of Coachella Valley existing homes jumped about 12 percent in February, rebounding from slower sales January, The California Desert Association of REALTORS® reported today

Santa Fe Springs, CA - May 17, 2011 - (RealEstateRama) -- Colliers International, the second largest global real estate services organization, recently negotiated a 45 month 82,080-square-feet industrial lease located at 12991 Leffingwell, Santa Fe Springs, Calif. The transaction is valued at $1.9 million.

Chino, CA - May 17, 2011 - (RealEstateRama) -- Colliers International, the second largest global real estate services organization, has completed the sale of a 78,021-square-feet industrial building located at 5740 Schaefer Ave., Chino, Calif. to a Massachusetts-based aerosol cans manufacturing and distribution company, Shield Packaging of California. The transaction is valued at $3.9 million.

ALISO VIEJO, CA - May 17, 2011 - (RealEstateRama) -- CT Realty Investors (CTRI) announced today it has completed the process of successfully selling a portfolio of office, warehouse and residential assets located throughout Southern California (Riverside County, Orange County and San Diego County), including some senior mortgage notes for a total of more than $30 million. The portfolio featured multiple residential, industrial and office properties purchased by CT Realty Investors in 2009 and 2010 through several senior loan pool acquisitions. CT Realty has been an active purchaser of distressed debt and maintains an active debt resolution business unit.

LOS ANGELES, CA - May 16, 2011 - (RealEstateRama) -- California home sales declined in April, while home prices increased, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.