Yearly Archives: 2015

Earlier today, Congressman Ami Bera, M.D., offered the final amendment to the energy and water funding bill for fiscal year 2016 (H.R. 2028) to bring more emergency drought relief to California families, farmers, and small businesses. The amendment also sought to help communities modernize their water infrastructure to use their water more efficiently and prepare for future droughts. Click here to watch his remarks supporting the amendment on the House floor.

The House of Representatives today adopted an amendment by Congressman Tom McClintock to forbid federal agencies from buying up scarce water during California’s catastrophic drought in order to release it into rivers to meet environmental requirements. The amendment was subsequently adopted today as part of the Fiscal Year 2016 Energy and Water Appropriations Act. The amendment was adopted on a vote of 226 – 9, and final passage of the Appropriations Act on a vote of 230 –7.

The first provision, offered by Rep. David Valadao (R-CA) instructs the Bureau of Reclamation to finish and submit feasibility studies for three dam expansion projects and two dam creation proposals within the State of California. Congress authorized each of the five studies over a decade ago. This specific provision sets in place hard deadlines and forbids the agency from continuing to stall on these critical decisions

Today, the California Reinvestment Coalition announced that its members successfully negotiated a new Community Reinvestment plan as part of City National’s merger with Royal Bank of Canada. The plan, developed after several months of negotiations, calls for the bank to achieve a minimum of $11 billion in cumulative qualified CRA activity during the next five years. The $11 billion amount corresponds to the bank’s goal of reaching a level of qualified Community Reinvestment Act (CRA) activity equal to 15% of the bank’s normalized California deposits by 2021

Last night, the House passed Rep. Grace F. Napolitano’s (CA-32) amendment to H.R. 2028, the FY2016 Energy & Water Appropriations Act, ensuring more fairness for the Ports of Los Angeles, Long Beach, and other donor ports across the country

“In two days, the House moved in quick succession to pass the first two appropriations bills for fiscal year 2016. Today’s Energy and Water appropriations bill provides necessary resources for America’s infrastructure, including our electric grid, nuclear stockpiles, and critical water projects.

Located on a former parking lot in a redeveloping urban area, Celadon at 9th & Broadway includes 250 affordable rental apartments and embraces a multigenerational population with services and ground-floor retail.

Global real estate investment and services firm Kennedy Wilson (NYSE: KW) today announced that the company acquired Montiavo at Bradley Square, a 208‐unit apartment community located in Santa Maria, CA. The property was purchased for $47 million, with the company investing $10.4 million of equity in the transaction (inclusive of closing costs) and securing $37.7 million of 10 year mortgage financing on the property through Freddie Mac with a fixed rate of 3.77%, interest only for five years.

The California Housing Finance Agency (CalHFA) today announced the Conduit Issuer Program, a new program that helps affordable housing developers access tax-exempt and taxable bond funds to aid in the preservation and development of affordable housing projects throughout California.

Next Wednesday, May 6th, Congressmen Jared Huffman (CA-02), Earl Blumenauer (OR-03), and Mark DeSaulnier (CA-11) will hold a public forum on transportation infrastructure. The public forum will be held at Autodesk headquarters in San Rafael and focus on innovation in transportation infrastructure and the impending insolvency of the Highway Trust Fund, which funds transportation projects across the United States

Visual Text Huffman: “This bill provides an opportunity for working families to stay in the region without impacting the existing landscape.” WASHINGTON, D.C. - May 1, ...

Visual Text WASHINGTON, D.C. - May 1, 2015 - (RealEstateRama) -- Congressman John Garamendi (D-Fairfield, CA), one of California’s strongest voices against the proposed twin...

NAI Capital Senior Vice President Jeremy Barbakow, with the Encino office, who specializes in office and medical leasing in the San Fernando Valley, represented landlords and tenants in nine office leases in Sherman Oaks, Encino and Tarzana, eight of which were on Ventura Boulevard.

NAI Capital completed the $14.5 million sale of Tustin Medical Arts Center in Tustin, Calif., on behalf of Klingbeil Medical Partners. The seller was a real estate investment firm specializing in medical office reposition opportunities. Klingbeil purchased the property through NAI Capital in 2008

For thousands of California residents, finding a safe and affordable place to live is one of their biggest worries in life. This is especially true for those who are faced with a mental or physical disability

After months of public comment and exhaustive review, Governor Edmund G. Brown Jr. today joined top federal officials to unveil plans that accelerate restoration of the Delta's ecosystem and fix the state's aging water infrastructure.

A 32-unit multifamily property in the Los Angeles community of Van Nuys has sold at an $80,000 premium over listing price after multiple offers were tendered for the property, according to Warren Berzack, president of Berzack Investment Property Advisors, www.berzackadvisors.com a multifamily specialty group of Lee & Associates-LA North/Ventura, www.lee-associates.com who represented the seller in the transaction.

Announced with Fresno Mayor Ashley Swearengin, Modesto Mayor Garrad Marsh, and Stockton Mayor Anthony Silva, Wells Fargo launched the new HomeLIFT program to help boost homeownership and strengthen Central Valley neighborhoods.

Environment California applauds Governor Jerry Brown for issuing an executive order today to establish a statewide greenhouse gas reduction (GHG) target of 40 percent below 1990 levels by 2030. Environment California's Clean Energy Advocate Michelle Kinman released the following statement in response:

A 10-unit apartment property in Thousand Oaks, CA has traded for $4,320,000 or $432,000 per unit, according to John Battle SIOR, a principal of Lee & Associates-LA North/Ventura who represented the seller, HH Sugar Shack LLC, with Lee Associate Matt Benwitt.