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In a market where value-add commercial real estate is increasingly difficult for investors to find, Interstate Equities Corporation (IEC) has proven that “un-loved” deals are still out there. The firm has just acquired an off-market, 34-unit multifamily property in a walkable distance from downtown Burbank, California - an investment feat in today’s market, according to Marshall Boyd, President of IEC.

SR Commercial, a privately held, full-service commercial real estate investment company, has acquired an 11.8-acre land parcel in Carlsbad, California, on which the firm plans to develop a 151,500 square-foot multi-tenant industrial distribution project, according to CJ Stos, a Principal at SR Commercial

The Parkway Business Center in Richmond California has sold. This property is comprised of three flex/office/industrial buildings totaling 87,785 square feet on 9.8 acres with 3 acres of developable land. The buyer, Wang Brothers Investments, was able to acquire the property at an attractive basis with stable income and will consider options for developing the land in the future. The price is undisclosed

As the state marks Wildfire Awareness Week, Insurance Commissioner Dave Jones has launched a new online coverage comparison tool to help California consumers shop for homeowner, condominium owner and renter insurance by allowing them to compare coverage features offered by a variety of insurers

Today, the City of Long Beach, in partnership with The Long Beach Community Investment Company (LBCIC), and Habitat for Humanity of Greater Los Angeles (Habitat LA) celebrated the American dream of homeownership for an Air Force Veteran.

Commercial real estate investment banking firm George Smith Partners has successfully arranged $22 million in financing for its client, Optimus Properties, LLC and Infinity Redevelopment, LLC, for the acquisition of Juanita Tate Marketplace, a 77,000 square-foot, newly constructed retail shopping center in the South Central neighborhood of Los Angeles, California, according to George Smith Partners’ Senior Vice President Shahin Yazdi.

The City of Hayward is pleased to announce the single-family residents, multi-family property owners, schools and businesses who received the City of Hayward’s 2015 Annual Environmental Awards. Each of the awardees was recognized at the special City Council presentation, held on April 21, 2015 at City Hall

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.

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

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.

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.

DTZ, a global leader in commercial real estate services, announced today that it has represented developer Cruzan in its 45,000 square foot lease with GoPro (NASDAQ: GPRO), enabler of some of today’s most engaging content, at Cruzan’s “MAKE” coastal redevelopment in Carlsbad, CA. GoPro will serve as “MAKE’s” anchor tenant.

The Bill Sorro Community will be comprised of 67 units of affordable family housing: eight studios, 24 one-bedroom, 25 two-bedroom, and 10 three-bedroom apartments. Fourteen of the units will serve low-income adults with developmental disabilities and are being financed using the HUD 811 program.

Smart & Final Extra!, a new concept store by Smart & Final that expands the space and services of the company’s brand, has signed a long-term, $13.9 million lease for 42,200 square feet in the Lemon Grove Plaza, located at 2021 N. Oxnard Blvd., Oxnard.

PowerStone Property Management Inc., a full service Orange County, California based property management firm, today announced that a recent event hosted at the Irvine DoubleTree Hotel drew OC HOA Board Members representing PowerStone managed Associations. The Seminar featured attorneys Jeffrey A. Beaumont, Esq. and Brittany A. Ketchum, Esq. from law firm Beaumont Gitlin Tashjian. Cindy Cattern, PowerStone’s Director of Community Relations, organized the event, the 4th in a series entitled Board Member Boot Camp

Benny Chetcuti, Jr. was sentenced yesterday to 51 months in prison, and ordered to pay $21,823,526.10 in restitution, as well as forfeit $3,968,995 in proceeds obtained from a multi-year real estate investment fraud scheme, announced United States Attorney Melinda Haag and FBI Special Agent in Charge David J. Johnson.

Next week, the California State Historical Resources Commission will consider eight nominations for federal historic designation, and one nomination for state historic designation. The Commission will meet Wednesday, April 29, 2015, at 9:00 a.m. at the Naval Training Center at Liberty Station, McMillan Event Center Gallery 17, 2875 Dewey Road in San Diego, California

Santerra Apartments, a 128-unit multifamily complex at 3434 E. McDowell Rd., in Phoenix has sold to a California Investor for $5,807,500 or $45,371 per door. The sale closed, March 26th. Todd Braun, Principal at Lee & Associates negotiated the transaction for the sellers, Santerra Apts, LLC of Scottsdale and for the buyer, Dynamics Capital Group of Brentwood, CA