Irvine investors in real estate buying mood – Location Irvine …
Irvine investors in real estate buying mood
July 5th, 2011, 1:47 pm ? 2 Comments ? posted by Jon Lansner
Some Irvine investors are in a buying mood for real estate and financial assets:
- TNP Strategic Retail Trust ? investor in shopping cenetsr and other real estate asets ? says it bought the debt of Constitution Trail Centre, a 197,739 square foot center built in in?Normal, Ill., at ?a substantial discount from the loan amount.??Constitution Trail Centre?is approximately 65 percent leased with tenants including Schnucks Market, Starplex Cinemas, Dollar Tree, Subway, H&R Block, Great Clips and Wendy?s.
- Sharewell Capital Group says it has an exclusive letter-of-intent to acquire two California properties for its stock:?27,000 acres of agricultural land in Central California and?500 acres of raw land in San Diego?s North County region.
- An undisclosed Irvine investor bought a 1,448-square-foot individual retail/commercial condominium at The Plaza Irvine at?7020 Scholarship Drive, says broker?Hanley Investment Urban Retail Advisors. Price was not released.?Hanley?s Edward Hanley says:??The demand from investors to purchase retail/commercial condominiums is very strong especially in areas like Irvine. During the past decade many cities across the country have completed new urban communities that have produced a rare investment product that has not been available to investors previously.?
- First Foundation Bank agreed to buy?Desert Commercial Bank in El Centro for approximately $16 million in a stock and cash deal.
- Opus Bank closed its acquisition of Cascade Financial Corp., owner of Cascade Bank in Washingston state.
- San Luis Obispo?s?Mission Community Bank ? backed by Carpenter Fund Manager of Irvine ??is planning to double its size with the purchase of?acquire Atascadero-based Santa Lucia Bancorp, Pacific Coast Business Times reports.
Source: http://irvinehomes.ocregister.com/2011/07/05/irvine-investors-in-real-estate-buying-mood/19261/
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