By Inman News, Thursday, February 17, 2005. Marcus & Millichap negotiated the sale of a 312,500-square-foot, multi-anchor power center in Alexandria, La. The value of the transaction was $11.5 million. A Louisiana investment partnership sold the property to a Cincinnati, Ohio-based buyer. The Alexandria Power Center is located at 1804 MacArthur Drive and situated on 20 acres. The center was constructed in 1974. At the time of sale, the center was 87 percent occupied by tenants such as Office Depot, Ashley Furniture, Dollar General, Hancock Fabrics and Burkes Outlet. more...
By Inman News, Thursday, February 17, 2005. Investment firm W. P. Carey & Co. LLC acquired a corporate office building in Sunnyvale, Calif., and a research and development/office facility in Allen, Texas. The total acquisition price of the two facilities was $29.1 million. The 252,000-square-foot facilities will be leased for an initial term of 15 years, followed by two 10-year renewal options. Finisar Corp., a fiber-optics technology company, sold the California property. FSI International Inc., a manufacturer of capital equipment for the microelectronics industry, sold the Texas property. more...
By Inman News, Thursday, February 17, 2005. Grubb & Ellis Co. represented APR-V LLC, a Long Beach, Calif.-based private investment group, in the purchase of a 194,130-square-foot office project in Commerce, Calif. The transaction was valued at $22.4 million. The property, Pacifica Commerce Plaza, consists of a six-story building located at 5701 S. Eastern and a two-story building located at 5601 E. Slauson. The property was built in 1982 and renovated in 2003. Laguna Hills, Calif.-based Pacific Real Estate Group sold the property, which was 70 percent leased at the time of sale. more...
By Inman News, Thursday, February 17, 2005. Grabbing a piece of the reality TV spotlight, Countrywide Home Loans has become a sponsor of the new home makeover reality show, "Lo Dejo en Tus Manos," which means "I'm Leaving It in Your Hands." The show will broadcast on Telemundo, a major U.S. Spanish-language television network. "Lo Dejo en Tus Manos" is a reality show about homeowners receiving home makeovers. more...
By Inman News, Thursday, February 17, 2005. The U.S. leading index, a key barometer of economic conditions, fell 0.3 percent in January, The Conference Board reported today. The leading index now stands at 115.6 (1996=100). Based on revised data, this index increased 0.3 percent in December and increased 0.3 percent in November. During the six-month span through January, the leading index decreased 0.3 percent, with five out of 10 components advancing. more...
By Inman News, Thursday, February 17, 2005. The Wisconsin residential home sales market set an all-time record in the fourth quarter of 2004, making last year the strongest housing market in state history, the Wisconsin Realtors Association reported. more...
By Inman News, Thursday, February 17, 2005. Long-term mortgage rates pushed higher this week, reversing a six-week decline, according to Freddie Mac's weekly mortgage survey. Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.62 percent for the week ended today, up from last week when it averaged 5.57 percent. The average for the 15-year fixed-rate mortgage this week is 5.14 percent, up from last week when it averaged 5.1 percent. Points on both the 15- and 30-year averaged 0.7. more...
By Inman News, Thursday, February 17, 2005. Sotheby's International Realty Affiliates this week celebrated its one-year anniversary as a luxury real estate franchise system by announcing a master franchise for Western Canada and the addition of two premier real estate companies to its luxury franchise network. The organization was established last year and began awarding franchises in summer 2004, already attracting 17 premier firms in the U.S. and two international franchises. more...
By Inman News, Thursday, February 17, 2005. LSI Credit Services, a division of Fidelity National Financial, today launched a new and improved point-of-sale Web site accessible at www.lsicredit.com. This new online destination aims to provide originators with increased efficiency and effectiveness in the credit services ordering and management processes. more...
By Inman News, Thursday, February 17, 2005. ERA Real Estate on Wednesday announced a new marketing and prospecting system that aims to help its sales associates address the specific needs and concerns of 50-plus consumers, which represents one of the fastest-growing segment of today's real estate market. The ERA New Thresholds program provides ERA brokers and sales associates with targeted marketing and presentation materials, including separate brochures for both mature home buyers and mature home sellers. more...
By Inman News, Thursday, February 17, 2005. Freddie Mac and VMP Mortgage Solutions are collaborating to develop bilingual state-specific security instruments, notes and other mortgage documents in English and Spanish, as well as bilingual consumer education brochures that address the mortgage process. more...
By Inman News, Thursday, February 17, 2005. Borrowers with limited credit and savings have more options with a new suite of mortgage products from Freddie Mac, including the Home Possible Mortgage and the Home Possible Neighborhood Solution Mortgages. The new Home Possible Mortgage combines borrower education and early delinquency counseling, zero and 3 percent down payment mortgage products, and flexible credit requirements. more...
By Inman News, Thursday, February 17, 2005. Online consumer-direct lender E-Loan today reported $36.2 million in fourth-quarter revenue, up 36 percent from the same period the previous year. Net income was $1 million, or 2 cents a share, up from $200,000 reported in the fourth quarter 2003. The company also announced today that current president and chief operating officer Mark Lefanowicz would assume the role of CEO. E-Loan founder Chris Larsen, who formerly held the post, will continue as the company's chairman. more...
By Inman News, Thursday, February 17, 2005. The Center for Realtor Technology of the National Association of Realtors has launched new software for computer servers that allows users to set business rules when distributing Multiple Listing Service information. The program, called VARIMAN, is the second generation of the association's free Real Estate Transaction Standard server software to be released by the center, the association announced this week. V more...
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