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IRVINE, CA-The Irvine-based developer has received a $9.5-million commitment to refinance its Las Vegas property, Lake Tropicana Timeshare Resort and Towers. The company will refinance its $6.5-million mortgage and $3-million Phase I funding at 9%.
SAN DIEGO-San Diego Mayor Dick Murphy says he will ask the council to approve a citizens' task force to find a resolution to the escalating conflict over the future of the San Diego Chargers.
SCHAUMBURG, IL-Providence, RI-based land use planner and author Randall Arendt tells GlobeSt.com the Midwest, and Chicago area in particular, are relatively progressive markets compared to other areas of the US when it comes to commercial development.
PORTLAND-SKB paid $20.76 million for residential and retail development at 23rd and Northwest Burnside, which includes the 72,000 sf shopping center, 47 apartment units and a "potentially developable pad" of about 55,000 sf. The acquisition--its first in Portland--closed late last week.
TEMPE, AZ-Cracovia Capital outbids one competitor for a 26,000-sf industrial structure at 1876 E. Broadway in Tempe. The holding was bought out of bankruptcy court. The plan now is to use part of the building and lease part.
RESEDA, CA- Pacific Property Company of Palo Alto, Calif., has purchased the 141-unit Villa La Paloma Apartment in Reseda, Calif. for over $8 million. The company's West Coast units now number 3,468, with over 800 units in the San Fernando Valley.
SCOTTSDALE, AZ-Centex Homes of Phoenix vacates North 12th Street for Koll Perimeter Center, a two-building development in North Scottsdale known for its commanding view of the mountains. The five-year contract carries a value of $4.9 million.
SAN FRANCISCO-According to one participant, a recent gathering of TCN Worldwide Real Estate affiliates revealed that despite a general flatness in the commercial real estate market the industrial and retail sectors of commercial real estate have remained strong.
PORTLAND-The company signs a 10-year, $973,000 lease for 6,700 sf in the former J.K. Gill Building on Fifth Avenue, which is owned by the county. In another deal, the county inks a $1.5-million deal to master lease a hotel for low-income housing.