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Pending home sales bounced back from the previous month at the statewide level in October, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Pending sales were also significantly higher on an annual basis, portending higher closed escrows in the next couple of months.

Hemet Plaza is centrally located on 4.55 acres at 1911-2095 Florida Avenue in Hemet, at the hard-corner signalized intersection of Florida Avenue (Highway 74, the main east-west thoroughfare in Hemet) and Yale Street (34,000 cars per day). In addition to anchors Big Lots (NAP) and True Value, Hemet Plaza includes other national tenants such as Farmers Insurance, Jackson Hewitt Tax Services, Rent-A-Center, Metro PCS, and US Postal Service.

Dekel Capital, a Los Angeles-based real estate merchant bank that specializes in sourcing and placing equity and debt for active middle market commercial real estate developers and investors, has placed $50 million in financing for the construction and development of the Pinnacle Sandy Apartments in the southeast corridor of the Salt Lake City metropolitan area. The deal was structured as a $36.1 million construction loan through Dekel Capital’s advisory practice and $13.9 million JV-Equity funded by the firm’s proprietary equity fund, Dekel Strategic Investors (DSI)

Home sales exceeded the 400,000 level in October for the seventh consecutive month and posted higher on a year-to-year basis for the ninth straight month. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 403,510 units in October, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.

Geoff McIntosh is broker and co-owner of Main Street REALTORS® in Long Beach, Calif. He previously served as the Association’s treasurer in 2014 and 2015. He oversees the activities of his 230-plus REALTORS® and also serves the real estate needs of his own clients. Active in organized real estate, McIntosh previously served as president of the Pacific West Association of REALTORS®, the Greater Long Beach Association of REALTORS®, and the Apartment Association, California Southern Cities.

St. Anton Communities announces the beginning of construction activity on a major Downtown Campbell housing community, an $88 million project involving 14 separate parcels of land assembled through a multi-year effort.

Meridian’s 69,000-square-foot two-story medical office building in Rohnert Park, Calif. was selected in the category of Best Renovated or Repurposed Healthcare Facility. When Meridian first acquired the building, the ground floor was occupied by Kaiser Permanente, while the second floor, which was previously occupied by an office tenant, had been vacant for over a year. The city of Rohnert Park at that time had only 1.29 doctors per 1,000 residents, well below the national average, according to Pollock. In eight months and at a cost of over $6 million dollars in tenant improvements, Meridian was able to help satisfy this shortage by converting the entire second floor to a fully-operational medical office building, while not interfering with the operations of the downstairs tenant Kaiser Permanente.

Released monthly with rolling three-month data, the Sotheby’s International Realty Greater Los Angeles Market Report is a comprehensive analysis of real estate market activity in the area across the top 33 markets to keep audiences up-to-date on trends at the macro and micro level for single-family homes and condominiums

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Eric Vu and Jeff Hauber completed the sale of a 2,900-square-foot retail building in Orange County for $1.2 million, representing a cap rate of 4.17%

California’s housing market will continue to improve into 2016, but a shortage of homes on the market and a crimp in housing affordability also will persist, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2016 California Housing Market Forecast,” released today

Global real estate investment and services firm Kennedy Wilson today announced its representation of the seller in the sale of a 1.2-acre school campus, located at 1200 N. Cahuenga Blvd. in Los Angeles. The buyer was Stratford School, an 18-campus, WASC-accredited private school based in Silicon Valley. Stratford School offers classes for students from preschool through middle school, and plans to open the Los Angeles area location in August 2016.

California pending home sales declined in August but remained strong, marking 10 straight months of year-over-year gains, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. In a separate report, California REALTORS® responding to C.A.R.’s August Market Pulse Survey saw a drop in sales with multiple offers compared with July, as market competition cooled down toward the end of the home-buying season.

MCA Realty, a full service real estate investment and management company, has acquired two multi-tenant industrial assets totaling more than half a million square feet in the Inland Empire for a combined total of $36.8 million.

Following a hotter than usual summer of homes sales, California’s housing market cooled in August, but still posted higher year over year for the seventh straight month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Meta Housing Corporation has announced the completion of Metro @ Compton Senior Apartments, a $20.3 million, transit-oriented, 75-unit affordable housing development available to seniors aged 55+ in Compton, California

TIAA-CREF, a leading U.S. financial services organization and the nation’s largest manager of U.S. institutional tax-exempt real estate assets*, today announced the acquisition of a prime real estate asset in San Francisco as part of its joint venture with partner Norges Bank Investment Management, manager of the Norwegian Government Pension Fund Global.

Clearinghouse Community Development Financial Institution (CDFI) announced today its partnership with new shareholder Rancho Santa Fe Thrift & Loan, who provided a $25,000 Class A equity investment to finance projects benefiting underserved California communities. This new investment brings Clearinghouse CDFI’s Class A shareholder list to over 40 investors, with total equity exceeding $44 million.

Mayor Edwin M. Lee and City Administrator Naomi Kelly today announced the appointment of Kevin Guy as Director of the newly created Office of Short-Term Rental Administration and Enforcement. Funded in the Mayor’s FY 15-17 budget, the “one-stop” shop is intended to streamline the application process for the City’s short-term rental registry and more aggressively coordinate complaints and enforcement of the City’s short-term rental regulations.

Join Councilmembers and City staff in a discussion about private property owners in the home/room sharing industry, such as Airbnb in Sacramento. Currently, there are 170 properties within the Sacramento limits that are listed on Airbnb, one of the most popular sharing websites.

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) will honor three REALTORS® as “Champions of Home,” California REALTORS® who have changed their clients’ lives for the better, raised the standards for others, and led by example.  In its third year, the award honors REALTORS® who have been selected by their peers as individuals who have gone to great lengths on behalf of their clients and practice business with the highest ethics and morals