CATHEDRAL CITY, CA-A Southern California partnership, known as Ocotillo Associates, acquires the property for $9.2M. Located at 69155 Dinah Shore, it contains a mix of 32 one-bedroom, one-bath units and 103 two-bedroom, two-bath units.

Henderson, NV-Agua Investors Inc. acquires the 266-unit multifamily property from SNK Development. Completed in 1999, the complex is located at 951 Las Palmas Entrada.

SAN DIEGO, CA-American Residential Investment Trust Inc. announces that its San Diego-based REIT subsidiary lost $9.2 million for the quarter ended June 30, 2002. The loss was primarily due to the recognition of mark-to-market losses on derivative instruments of approximately $8.8 million.

SAN DIEGO, CA-Jeff Causey takes on a new role as senior associate and director of public works for the locally based architectural firm. A 25-year veteran of the industry, Causey formerly served as an associate at Carrier Johnson.

SAN DIEGO, CA-JMI Realty Inc. turns its multifamily development business into a stand-alone real estate company. Known as Casoleil Residential, the new company is focusing on the development and redevelopment of class A residential communities in Southern California.

SAN DIEGO, CA-Crumbs LLC dba It's a Grind will occupy 1,444 sf of ground floor retail space in the condominium building. The coffeehouse plans to move to its new location in December of this year.

SAN DIEGO, CA-The City of San Diego Planning Commission unanimously endorses the city's Strategic Framework Element, a proposed amendment to the city's 1979 General Plan. The vote bodes well for the citizen-developed City of Villages strategy, which is part of the proposed amendment.

LA JOLLA, CA-Ramsey Real Estate Group, in conjunction with Prospect Square LLC, sells the 32,950-sf mixed-use project to a Los Angeles-based limited partnership. Located at 1025 Prospect St., the complex contains retail, restaurant and office space, as well as three levels of subterranean parking.