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LOS ANGELES-The merger will create the fourth largest bank in the California market and the 19th largest in the US. Separately, two other big SoCal banking players suffer after Wall Street analyst lowers his recommendations.
STAMFORD, CT-Insignia/ESG, in a move it says will expand its real estate services to New York State's industrial sector, has appointed Richard Timme, regional specialist for the Mid-Hudson Valley.
ORANGE COUNTY, CA-Newport Beach-based CT Realty Group has sold an industrial property in Corona to its tenant, American Products. Value of the transaction was $3.55 million.
CHICAGO-The nation's largest apartment REIT has completed its acquisition of Grove Properties Trust. The acquisition added 62 properties with 7,526 units to Equity Residential's portfolio, which now consists of over 225,000 units in 35 states.
ST. PAUL, MN-The brothers have changed the name of the property, Townview Apartments, to Phalen Village Apartments. They plan to renovate and reposition the complex, for which they paid $5 million.
NEW YORK CITY-Investment opportunities will be sought on properties capitalized between $20 to $50 million that can benefit from value enhancement. Initially, the firm will focus on domestic transactions and in the near future seek out international deals.
DENVER-The real estate community puts up a record $5.1 million to support efforts to defeat Amendment 24, an anti-sprawl constitutional measure that opponents say will erode the state's economy. Voters decide on the issue in the Nov. 7 balloting.