San Diego Business Journal

SD REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...
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ROIC Reports 50 Percent Rise in Third Quarter Revenue

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.

Academy Gives the I.D.E.A. District Its E: Education Component

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.

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Third-Quarter Revenue Rises 6 Percent at BioMed Realty Trust

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.

Apartments Planned at San Diego Site Acquired for $3.5 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.

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Wermers Completes $6.5 Million Kensington Apartment Project

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.

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Realty Income Reports Third-Quarter Gains in Revenue, Income

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.

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County Construction Contracts Up 30 Percent in First 9 Months

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.

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Richman Group Begins Work on $28 Million Seniors Community

La Jolla-based Richman Group of California has broken ground on a $28 million, 95-unit affordable apartment community for seniors in downtown Fullerton.

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Hillcrest Apartment Project Gets $7.46 Million in Construction Financing

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.

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Alexandria Buys Sorrento Mesa Office Property for $13.1 million

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.

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Hyatt Place Hotel in Vista Sells For $22 Million

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 Ranked No. 1 For Listings Through August

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.

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Carlsbad Office Campus Sells for $9.5 Million

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.

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LA Firm Arranged $95M Financing for Pendry San Diego

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.

Port Selects Company to Negotiate on Chula Vista Bayfront Project

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.