SD REAL ESTATERecent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...
Developer Sudberry Properties will present concept plans for upcoming parks at its Civita mixed-use project, at a public meeting scheduled for March 12 in Mission Valley. It will take place at 6:30 p.m. at the development’s Circa 37 apartment leasing center, at 7800 Westside Drive.
Locally based Paragon Management Co. has purchased a mixed-use project in Mission Hills, called 1Mission, for $8.6 million, according to CoStar Group.
Realty Income Corp. has announced a public offering of common stock, expected to generate net proceeds of approximately $656.9 million.
California West Ventures II LLC, which includes Carlsbad-based homebuilder California West Communities, has purchased 41 residential lots in Rancho Santa Fe, for $10.25 million.
A partnership that includes Greenlaw Partners of Newport Beach and Chicago-based Walton Street Capital LLC has purchased two office buildings at University Towne Center for a total of $25.65 million, according to CoStar Group.
Realty Income Corp. has named John P. Case, currently its chief investment officer, as co-president of the real estate investment firm.
San Diego-based Excel Trust Inc., a retail-focused property investment firm, reported increases in revenue and funds from operations for its fourth quarter and year ending Dec. 31, though it posted a net loss for both periods.
Projects, developments and other activity in cities in and around San Diego County
DPR Construction today announced that Shire PLC and real estate partner BioMed Realty Trust have tapped the company to manage the build out of a new campus to house its Regenerative Medicine business.
Equity Residential and AvalonBay Communities Inc. have closed on the acquisition of 136 U.S. apartment communities from Archstone Enterprise LP, a unit of Lehman Brothers Holdings Inc., in transactions totaling $15.5 billion.
Downtown San Diego’s retail real estate continued its post-recession recovery in 2012, registering single-digit vacancy for the first time since 2008, according to a new report by the brokerage firm Cushman & Wakefield.
The 128-unit Oakbrook Ridge Apartments in Spring Valley has been sold for $18.8 million, according to Cushman & Wakefield, which facilitated the transaction.
A local investor has purchased a portfolio of retail and office properties in La Jolla for $8.5 million.
Real Estate Column
Commercial property deal volume in San Diego County topped $1.6 billion in 2012, a significant improvement over the last several years. But debt and equity financing have yet to return to pre-recession peaks, according to a recently released capital markets report by the brokerage firm CBRE.
REAL ESTATE: Seller’s Market Drives Prices Up; Inventories Remain Tight
The continued dearth of available homes for sale in San Diego is driving up prices and causing much consternation among buyers, who often find their offers on properties too little or too late.
REAL ESTATE: Scarce Land, Low Interest Rates, Motivate Buyers to Act
The increased demand for housing is spilling over to the purchase of new homes, say local builders. “There was an inflection point that happened in 2012,” said Paul Barnes, president of Shea Homes San Diego. “The light turned on inside a lot of people’s heads, and they got re-energized about home ownership.”