Investing

WASHINGTON - July 29, 2014 - (RealEstateRama) -- Realtor® leaders are hearing from the nation’s foremost experts on environmental risk management during the National Association of Realtors® first environmental summit. The slate of distinguished speakers includes Dan Glickman, who served as the Secretary of Agriculture under President Clinton, and Tom Ridge, first Secretary of U.S. Department of Homeland Security, former Governor of Pennsylvania, president and CEO of Ridge Global and partner at Ridge-Schmidt Cyber.

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.

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.

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."

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.

Irvine, CA - July 18, 2014 - (RealEstateRama) -- Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has completed the $7.75-million sale of two, class A office buildings totaling 37,652 square feet (sf) in Murrieta, CA.

San Francisco, Calif., - July 18, 2014 - (RealEstateRama) -- PCCP, LLC announced today it has formed a joint venture with TriStar Properties to acquire 45 acres of land for the development of a 673,000-square-foot industrial building in Pontoon Beach, IL, a Metro East submarket of greater St. Louis, MO.

WASHINGTON, D.C. - July 18, 2014 - (RealEstateRama) -- 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.

WASHINGTON, D.C. - July 15, 2014 - (RealEstateRama) -- Today, the US Department of Justice announced a $7 billion settlement with Citigroup; the financial institution will pay a record-setting $4 billion penalty for misleading investors about securities that included toxic mortgages.

NEW YORK – July 10, 2014: Piquet Realty, a leading luxury real estate firm known for its deep ties to the high-end Brazilian investor community, announced the addition of David Benmen as a Licensed Real Estate Broker. He will be based in the firm’s New York City office.

IRVINE, Calif., - July 8, 2014 - (RealEstateRama) -- Faris Lee Investments, a leading retail advisory and brokerage services firm, has completed the $10 million pre-sale of a new construction 46,000-square-foot retail building that is recently fully occupied by TJ Maxx and HomeGoods. The 3.88-acre property, located at 2314 Remi Drive in Melbourne (Viera), FL has a new 10-year corporate guaranteed lease by The TJX Companies, Inc

Los Angeles, CA - July 7, 2014 - (RealEstateRama) -- Christopher Cooper, Avison Young Principal and Managing Director of the company’s Southern California region, announced today the strategic hiring of industry veteran Gail Goldstein as a Senior Vice-President in the company’s West Los Angeles office.

New York, NY - July 2, 2014 - (RealEstateRama) -- PCCP, LLC announced today it has provided a $30.3 million loan commitment to a venture led by Sage Hospitality for the acquisition and renovation of Marriott Minneapolis Southwest, a 321-key full-service hotel 12 miles southwest of Downtown Minneapolis in Minnetonka, MN.

IRVINE, Calif. - July 1, 2014 - (RealEstateRama) -- Faris Lee Investments, a leading retail advisory and brokerage services firm, has completed the $7.64 million sale of Foothill Center, a 19,400-square-foot multi-tenant shopping center located in the south Orange County city of Lake Forest. The center is 95 percent occupied with tenants including Baja Fresh, Enterprise Rent-A-Car, and Wasabi Sushi

LOS ANGELES, Calif. - June 27, 2014 - (RealEstateRama) -- Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $7.85 million sale of a 17-unit multifamily property located at 1520-1522 South Hayworth Ave. in the Faircrest Heights neighborhood of Los Angeles, Calif. The property sold for nearly $462,000 per unit, a record high price for the neighborhood (per CoStar for multifamily properties with eight units or more)

NEW YORK - June 24, 2014 - (RealEstateRama) -- Brown Harris Stevens, the exclusive affiliate of Christie’s International Real Estate, is pleased to announce that Manhattan Real Estate Broker Danielle Grossenbacher has been elected 2015-2016 World President of The International Real Estate Federation (FIABCI). She will be inducted on May 30, 2015 at the FIABCI World Conference in Kuala Lumpur. Currently, Danielle is also a representative of FIABCI to the United Nations Economic and Social Council (ECOSOC)

INDIO, Calif. -- INDIO, Calif. - June 23, 2014 - (RealEstateRama) -- BH Properties LLC, a Los Angeles-based commercial real estate investment firm, has completed an $8.8 million transaction for approximately 100 acres of land located in Indio, California. The property, which was owned by Wells Fargo Bank, is located at 42nd Avenue and Monroe Street adjacent to Interstate 10.

LOS ANGELES, Calif. - June 19, 2014 - (RealEstateRama) -- Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has named Brian Sterz as associate of investment sales out of the firm’s Century City office. He joins Team Stepp, one of Charles Dunn’s top performing brokerage teams, led by senior managing director, Kimberly Roberts Stepp. In his new role, Sterz will focus on the sale and exchange of multifamily real estate within Santa Monica and prime Westside Los Angeles locations.

WASHINGTON, D.C. - June 17, 2014 - (RealEstateRama) -- Responding to the Altair report Cosmopolitan Housing Group: Lessons Learned, Grainia Long, chief executive at the Chartered Institute of Housing (CIH), said: "The eventual rescue of Cosmopolitan marked a successful resolution to a critically important period for the housing association sector.

LOS ANGELES, Calif. - June 11, 2014 - (RealEstateRama) -- Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has been selected to market National City Tower, a historic adaptive reuse development that includes 93 residential lofts, as well as ground floor and basement retail space. Built in 1924 and redeveloped in 2008, the 12-story, 118,162-square-foot property was the former branch of National City Bank. The property is being offered at $45 million and has a projected initial capitalization rate of 4.7 percent