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Contracts awarded in January for future construction in San Diego County were down 78 percent from the first month of 2013, according to new data from McGraw-Hill Construction.
PROPERTY: Suburban And Business-Oriented Properties Are Sought
Experts say San Diego County, like the rest of the state, should continue to see rising demand for hotel real estate in 2014, sparked by an improving tourism climate, ample sources of investment capital and interest rates that remain historically low.
Maryland-based Walker & Dunlop Inc. has provided approximately $37.5 million in loan refinancing for Latitude 33 Apartments, a new 198-unit multifamily community in Escondido developed by Lyon Communities of Newport Beach.
MDA El Cajon One LLC of Rancho Santa Fe has purchased the El Cajon Towne Center retail property for approximately $5.3 million, according to CoStar Group and public data.
Conrad Prebys Trust of San Diego has acquired two undeveloped Santee land parcels, totaling approximately 33 acres, for $36 million, according to CoStar Group and public data.
San Diego-based Retail Opportunity Investments Corp., also known as ROIC, reported revenue and net income up significantly from a year go for its fourth quarter and full-year 2013.
San Diego-based general contractor T.B. Penick & Sons Inc. has completed construction on the $12 million Rancho San Diego Sheriff’s station in Spring Valley.
SR Commercial of Solana Beach has bought an Escondido retail-industrial property and a Murrieta office building for $6 million.
The San Diego regional office of Shea Homes has purchased 17 land lots in Carlsbad for $6.15 million, according to brokerage company Lee & Associates, which represented the seller.
PUR Villas Carlsbad LLC has purchased the 24-unit Villas La Costa apartment property in Carlsbad for approximately $6 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer and seller.
FINANCE: Lenders can still make loans outside the new guidelines, but at greater risk
Like many borrowers seeking a mortgage or refinancing an existing one, Shae Geary knew the process would involve a lot more time and paperwork.
“I’ve always told people that I had a bridge to sell them,” billionaire investor Sam Zell quipped during a recent real estate conference in San Diego. “Now I’ve actually got a … bridge.”
A wealthy, coastal community, Carmel Valley is one of San Diego’s newest master-planned communities. It’s central location, award-winning schools, and nearby commercial offices, hotels, retail and restaurants make it an ideal location for working professionals and families.
PROPERTY: Richman Plans to Take Advantage Of Infill in Good Markets
Connecticut-based developer The Richman Group of Cos. is staking its claim in the West Coast apartment market by establishing its California base in San Diego, continuing its westward push of the past three years.