Nov 29 2007
Application Could Open Up a New Avenue of Revenue for Commercial Brokers
The National Association of Realtors (NAR) filed a formal request with the U.S. Securities & Exchange Commission (SEC) to exempt NAR’s commercial members from certain securities regulations so that they can pursue the sale of tenant-in-common (TIC) securities investments.
The SEC has opened the request [...]
Nov 29 2007
Seattle Firm Buys Nearly 300 Units in Los Angeles
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Nov 25 2007
Housing’s Significant Drag on the Economy
Economists say that house prices would have to fall 10% before buyers will make a significant dent in historically high inventory.
The general economy may not be in a recession, but the housing economy certainly seems to be, and each month its outlook just gets uglier and uglier.
Inventories of houses under [...]
Nov 23 2007
Thinking Small May Be Next Big Thing
CB Richard Ellis’ Vice Chairman Starts New Venture To Bring Big Commercial Real Estate Opportunities to Small Investors
Ray Wirta, former CEO and current vice chairman of CB Richard Ellis, the world’s largest real estate services firm, is thinking small these days.
Wirta has created a proprietary new web-based system through [...]
Nov 23 2007
Deal Closes on 26 Units on Elm Avenue
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Nov 23 2007
DMC Investment Adds 67-Unit Multifamily to Portfolio
Interstate Equities Corp., of Los Altos, CA, purchased the 67-unit Casa Vaquero apartment community at 1630 Calle Vaquero in Glendale from DMC Investment Group Inc. for $16.35 million, or approximately $244,030 per unit.
Built 1968, the 54,690-square-foot Casa Vaquero complex is on 1.94 acres. The unit mix consists of three [...]
Nov 21 2007
Four-Property Portfolio Totals Nearly 1,000 Units; Three Buyers Come Away With Assets
Citing a strong investor appetite for California apartment properties, Kennedy Wilson (KW) Multifamily Management Group has sold four multifamily assets totaling almost 1,000 units in Santa Clara, Santa Barbara and Los Angeles counties for a combined $147 million.
The deals each closed separately over the [...]
Nov 21 2007
What seemed like a great idea at the time has cost Bank of America Corp. nearly $1 billion.
Since the Charlotte-based banking giant invested $2 billion in struggling Countrywide Financial Corp., the biggest U.S. mortgage lender, the investment has shed nearly half its value, on paper, since the deal was announced in August.
Shares in Countrywide have [...]
Nov 20 2007
Following is a brief report on total and core inflation for October. I am going to stick my neck out and disagree with my own research department: I don’t believe we will see another rate cut anytime soon due to the threat of inflation. However, because of the steep drop in the 10-year T-bill rate [...]
Nov 20 2007
Firm makes graffiti disappear Graffiti Protective Coatings erases tagging all over Long Beach, often in 48 hrs. if(requestedWidth < 300){ requestedWidth = 300; }
Maintenance technician Aaron Cuchillas of Graffiti Protective Coatings spray-paints a tagged wall Thursday along Magnolia Avenue in Long Beach.
LONG BEACH - [...]