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Total revenue at Retail Opportunity Investments Corp. rose 50 percent from a year ago in the third quarter ending Sept. 30, reaching $40.9 million, officials of the San Diego-based company reported.
It’s looking like the education component will make the first big impact in downtown San Diego’s long-discussed I.D.E.A. District — a mixed-use conversion of a rundown East Village neighborhood into what’s been envisioned as a lively hub for innovation, design, education and the arts.
San Diego-based BioMed Realty Trust Inc. saw total revenue rise 6 percent from a year ago in its third quarter ending Sept. 30, reaching $168.9 million, with rental revenue for the period hitting a company record $122.8 million.
Rize Eagles LLC has purchased a 1.8-acre parcel in San Diego’s College area for $3.5 million, with plans to develop a new apartment community, according to brokerage company Colliers International.
San Diego-based Wermers Multi-Family Corp. recently completed construction of Kensington Commons, a 34-unit apartment project on Adams Avenue in the city’s Kensington neighborhood.
Realty Income Corp. posted a 16.6 percent gain in revenue from a year ago and a 40.8 percent rise in net income available to common stockholders for its third quarter ending Sept. 30.
San Diego County’s contracts for future construction rose 30 percent in value for the first nine months of 2014 compared with the same year-ago period, topping $3.2 billion, according to the latest data from McGraw Hill Construction.
La Jolla-based Richman Group of California has broken ground on a $28 million, 95-unit affordable apartment community for seniors in downtown Fullerton.
Real estate and capital services provider HFF has secured $7.46 million in construction financing for a planned 36-unit apartment building in Hillcrest, being developed by San Diego-based Veritas Urban Properties.
Alexandria Real Estate Equities Inc. of Pasadena has acquired the two-building Barnes Canyon Center office property in Sorrento Mesa for $13.1 million, according to CoStar Group and public data.
An entity recorded as HP Vista LLC has purchased the 150-room Hyatt Place hotel in Vista for $22 million, according to CoStar Group and public data.
Coldwell Banker was ranked No. 1 in San Diego County for listing unit, buyer units, total units and sales volume through the end of August, according to the most recent Trendgraphix Market Share Report.
Dallas-based Lincoln Property Co. and Artemis Real Estate Partners of Maryland have purchased the three-building Research Center Plaza in Carlsbad for $9.5 million, according to CoStar Group and public data.
George Smith Partners, a Los Angeles-based commercial real estate investment banking firm, has arranged $95 million in construction financing for development partners The Robert Green Co. and Montage Hotels & Resorts of Laguna Beach to construct Pendry San Diego, a new 317-room luxury Montage-branded hotel in the Gaslamp Quarter, according to George Smith Partners’ Principal Malcolm Davies.
DEVELOPMENT: Resort Hotel Would Be Centerpiece of Waterfront
The board of Port Commissioners announced the selection of RIDA Development Corp. to enter negotiations to develop a destination resort and convention center on the Chula Vista Bayfront.