National Government and Public Real Estate News

NEW ORLEANS, – July 22, 2013 – (RealEstateRama) — Today the Equal Rights Center (ERC) —a national non-profit civil rights organization dedicated to equal opportunity for all—and The National Council of La Raza (NCLR) —the largest national Hispanic civil rights and advocacy organization in the United States—unveiled the results of a testing-based investigation documenting adverse and differential treatment against prospective Latino renters and homebuyers in Birmingham, Alabama; Atlanta, Georgia; and San Antonio, Texas.Bill Shepherd
Fisher Investments Rep
and ALLRMC.COM more »

Beverly Hills Lifestyle Sotheby's Homes

WASHINGTON, D.C. – July 24, 2014 – (RealEstateRama) — The Center for American Progress’ Director of LGBT Research and Communications Project, Laura E. Durso, issued the following statement in support of the introduction of the Runaway and Homeless Youth and Trafficking Prevention Act. The legislation will include protections for lesbian, gay, bisexual, and transgender, or LGBT, people against discrimination in federally funded programs serving homeless and runaway youth. more »

WASHINGTON, D.C. – July 23, 2014 – (RealEstateRama) — The Federal Housing Administration celebrated its 80th anniversary today at the White House with two panel discussions highlighting the past, present, and future of the agency and its impact on homeownership. National Association of Realtors® President Steve Brown joined distinguished speakers on the second panel to emphasize the significance of FHA-backed loans to the real estate market and housing recovery. more »

WASHINGTON, D.C. – July 23, 2014 – (RealEstateRama) — Existing-home sales increased in June and reached an annual pace of 5 million sales for the first time since October 2013, while rising inventory continues to push overall supply towards a more balanced market, according to the National Association of Realtors®. more »

WASHINGTON, D.C. – July 23, 2014 – (RealEstateRama) — The Federal Home Loan Bank of Boston is now accepting nominations to fill five vacancies on its 2015 Advisory Council. The vacant seats will be filled by individuals actively involved in providing or promoting housing and community lending in Connecticut, Massachusetts, New Hampshire, Rhode Island, and Vermont. more »

COUNTY OF SAN BERNARDINO, CALIF. – July 23, 2014 – (RealEstateRama) — Yokohama Tire Corporation (YTC) has chosen the County of San Bernardino for expansion into a larger Western Region Distribution Center. The company has leased a newly-constructed, 658,000-square-foot facility located at 16388 Fern Ave., Building 2 in the city of Chino, which it plans to occupy late this year. Yokohama will distribute its products, including passenger car/truck, commercial truck and OTR (Off-the-Road) tires from the facility. The company is relocating its warehouse operations from its current 380,000-square-foot facility in the city of Fullerton. more »

New York, NY – July 23, 2014 – (RealEstateRama) — PCCP, LLC announced today it has provided a $25.1 million senior loan to PDC Memphis Oaks 3 Holdings, LLC, a Class A distribution property totaling 1,025,000 square feet in Memphis, TN managed and sponsored by affiliates of Panattoni Development Company. The loan will recapitalize the existing financing, and will allow Panattoni to focus on leasing efforts on existing and future vacant space. more »

Florida Has Largest 12-Month Percent and Total Gains, New Jersey Has Biggest Annual Declines; South Dakota and Florida Top Monthly Rankings, Alaska and California Shed Most Jobs in June

WASHINGTON, D.C. – July 23, 2014 – (RealEstateRama) –Construction firms added jobs in 38 states and the District of Columbia over the past 12 months, but they reduced headcount in 27 states between May and June, according to an analysis today of Labor Department data by the Associated General Contractors of America. Association officials said the employment gains help, but that construction employment remains below peak levels in every location except North Dakota. more »

LOS ANGELES, Calif. – July 23, 2014 – (RealEstateRama) — Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $3.37 million sale of a fully occupied 27-unit multifamily property located at 4305 Gateway Ave. in the Silver Lake submarket of Los Angeles, Calif. more »

Irvine, CA – July 23, 2014 – (RealEstateRama) — Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has completed the sale of Corporate Center at Southbank, a class A office building totaling 72,000 square feet (sf) in Phoenix, AZ. more »

WASHINGTON – July 23, 2014 – (RealEstateRama) — The U.S. Department of Housing and Urban Development (HUD) announced today agreements with the owners and managers of two Berlin, New Hampshire properties, settling allegations that they engaged in housing discrimination when they refused to rent to a woman who was a victim of domestic violence. more »

Hanley Investment Group’s Urban Retail Division Has Sold Over $120 Million in Landmark Property Transactions in LA in Last 12 Months

IRVINE, CALIF. – July 23, 2014 – (RealEstateRama) — Hanley Investment (HI) Urban Retail Advisors, a division of Hanley Investment Group Real Estate Advisors, specializing in the sale and advisory of mixed-use and urban retail properties in dynamic commercial districts across the United States, announced today that Hanley Investment Group’s Senior Vice President Eric P. Wohl, along with HI Urban Retail Advisors’ President Carlos J. Lopez, represented the buyer and seller in the sale of The Shops at Library Court located at 630 W. 6th Street in Los Angeles, Calif. The purchase price was $6.95 million. more »

Garden Grove Festival Square Sells for $11,900,000, 5.59% Cap Rate

GARDEN GROVE, CALIF. – July 23, 2014 – (RealEstateRama) — CBRE Senior Vice President Philip D. Voorhees announced today that he, Brad Rable and their National Retail Investment Group – West (NRIG-West) team completed the sale of Garden Grove Festival Square, a 35,515-square-foot strip center in the City of Garden Grove, Calif., leased to a synergistic mix of regional and local tenants including Popular Community Bank, Woori American Bank and United Dental Group. The sale price was $11.9 million, representing a 5.59% cap rate. more »

Bellasol at Rosecrest in Herriman, Utah Wins Top Honors

IRVINE, CALIF. – July 21, 2014 – (RealEstateRama) — Award-winning national firm KTGY Group, Inc., Architecture + Planning, is pleased to announce that Bellasol (known as “The Zero Home”) in Herriman, Utah, received the Gold Nugget Grand Award for the Best Zero Net Energy Design. The Gold Nugget Awards program, presented by PCBC, recognizes “those who improve our communities through exceptional concepts in design, planning and development.” more »

Maywood Village Square Sells for $11.53 Million

MAYWOOD, CALIF. – July 21, 2014 – (RealEstateRama) — CBRE Senior Vice President Philip D. Voorhees announced today that he, Jimmy Slusher and the National Retail Investment Group – West (NRIG-West) team, along with CBRE’s Managing Director, Richard Rizika, completed the sale of Maywood Village Square, a 48,324-square-foot convenience strip center. The property, located at 4401-4487 Slauson Avenue in the city of Maywood, Calif., is anchored by O’Reilly Auto Parts, Subway, US Bank, Yoshinoya, Western Dental Services and a new Fitness 19 health club, which will occupy nearly 9,000 square feet of the property. The sale price was $11.53 million. The property was approximately 94% occupied at the time of sale. more »

Ashley Furniture HomeStore Celebrates Grand Opening

COLTON, CALIF. – July 21, 2014 – (RealEstateRama) — The Hodgdon Group, a full-service real estate brokerage, development and construction firm, announced today that it has completed construction of the conversion of a former FAMSA building, for the opening of an Ashley Furniture HomeStore in Los Angeles, Calif. Hodgdon Group’s HMC Construction, Inc. handled all entitlements and served as the design-build contractor for the major renovation of the 49,374-square-foot two-story freestanding building located south of I-10 freeway, near Grand Station, at 1810 S. Broadway. The Los Angeles location represents the 19th Ashley Furniture HomeStore to be completed by the Hodgdon Group. more »

EASTON, Md. – July 19, 2014 – (RealEstateRama) — Today, EPA Regional Administrator Shawn M. Garvin joined Governor Martin O’Malley and former Governor Harry Hughes for a ground-breaking at the site of what will become the new Eastern Shore Conservation Center in Easton’s historic district. The redevelopment project, supported by state, federal and local funds, will transform the former McCord Laundry Building and several vacant 1850s row houses along 114-130 S. Washington Street into a thriving campus of offices, residences and outdoor public venue. more »

WASHINGTON, D.C. – July 18, 2014 – (RealEstateRama) — Two days after the historic Citigroup settlement, Associate Attorney General Tony West outlined the Justice Department’s approach to resolving the remaining cases related to Residential Mortgage-Backed Securities (RMBS) misconduct that contributed to the financial crisis. West declared that the department would not hesitate to bring litigation against these firms if these principles were not met. more »

Chicago, Cook County, and DuPage County To Receive Additional Disaster Recovery Funds

WASHINGTON – July 18, 2014 – (RealEstateRama) — U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced the allocation of more than $31 million to the City of Chicago, Cook County, and DuPage County to help these communities recover from devastating storms, strong winds and flooding.  These grants are provided through HUD’s Community Development Block Grant-Disaster Recovery (CDBG-DR) Program to support long-term disaster recovery efforts in areas with the greatest extent of ‘unmet need.’ more »

Reston, Virginia, – July 18, 2014 – (RealEstateRama) — MERSCORP Holdings, Inc. today announced that the Court of Appeal of the State of California Second Appellate District affirmed the trial court’s order dismissing a wrongful foreclosure lawsuit.

In Matlock v. J.P. Morgan Chase Bank, N.A., et al., the plaintiffs had taken out a mortgage loan secured by a deed of trust that named Mortgage Electronic Registration Systems, Inc. (MERS) as the beneficiary as nominee for the original lender. The plaintiffs subsequently defaulted on this loan and were subject to a foreclosure action. In response, the plaintiffs brought an action against several financial institutions, including MERS, with a variety of claims alleging defects in the loan and foreclosure process. With respect to MERS, the plaintiffs claimed that MERS’ assignment of the loan’s deed of trust to U.S. Bank was improper and invalid, and as a result U.S. Bank’s appointed trustee, California Reconveyance Company, lacked standing to bring the foreclosure action. more »

WASHINGTON, D.C. – July 18, 2014 – (RealEstateRama) — Nationwide housing production fell 9.3 percent to a seasonally adjusted annual rate of 893,000 units in June, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The drop was due primarily to a nearly 30 percent decline in the South. All other regions posted monthly gains. more »

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