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STAG Capital buys 206,000 square feet

By Inman News, Tuesday, June 26, 2007.

STAG Capital Partners recently purchased a 206,800-square-foot warehouse and office facility in Glendale, Wis., for an undisclosed price.

4041 Richards LLC sold the property at 4041 North Richards St. at full occupancy.  more...

Red Bluff deal hits $13M

By Inman News, Tuesday, June 26, 2007.

San Luis Obispo, Calif.-based investor CenterVest has paid $13 million for Belle Mill Center in Red Bluff, Calif.

Passco Belle Mill LLC sold the 119,380-square-foot retail center at approximately 93 percent occupancy. The asset is located at 84 -150 Belle Mill Road.

At the time of sale, the property was anchored by Food Maxx and Long's Drug, and includes tenants such as Hollywood Video and Acron Rents.

Bascom acquires Stonebridge apartments

By Inman News, Tuesday, June 26, 2007.

The Bascom Group LLC added another apartment community to its portfolio with the recent purchase of Stonebridge on Roswell in Sandy Springs, Ga.

Stonebridge, located at 5675 Roswell Road, is situated on 39.5 acres. The complex is comprised of 184 one-bedroom/one-bath apartments, 272 two-bedroom/two-bath apartments and 48 three-bedroom/two-bath apartments. Unit sizes range from 900 square feet to 1,649 square feet with an average of 1,173 square feet.  more...

Seven brokerage companies vie for top award Premium Content

By Inman News, Tuesday, June 26, 2007.

The Inman Innovator awards will be presented Aug. 1 at Real Estate Connect in San Francisco.

Seven real estate brokerage companies will compete for the Inman Innovator award this year in the Most Innovative Brokerage or Franchise category, which recognizes excellence, innovation and success in the real estate brokerage business.

The 2007 finalists for brokerage include @Properties, Coldwell Banker, The Corcoran Group, Foxtons, Iggys House, John L.  more...

Fidelity National Information Services on acquisition streak

By Inman News, Tuesday, June 26, 2007.

Fidelity National Information Services Inc. says it has agreed to buy EFD/eFunds Corp. for $1.8 billion -- the second acquisition announced by the company this week.

FIS, which provides processing, information services and outsourcing for financial institutions, mortgage lenders and retailers, said it will finance the acquisition of EFD with cash on hand and long-term debt.  more...

Real estate at the speed of light Premium Content

By Marc Davison, Tuesday, June 26, 2007.

In the time it took to read this sentence:

A new idea was born.

A new innovation that will change the world just emerged.

A new business registered.

A new way of thinking is now viral.

The speed-of-light change is coursing through every industry. Each has its own examples of those who are part of the movement. They come in three forms: the map makers, the ship captains and the willing passengers. Each needs the others.

And every industry has examples of those who chose not to be part of the movement.  more...

Home loan apps in 2-week slide

By Inman News, Tuesday, June 26, 2007.

Declining interest rates weren't enough to inspire home purchases or refinancings last week, the Mortgage Bankers Association reported today, as loan applications were down again.

The market composite index, which measures total home loan volume, fell 3.9 percent on a seasonally adjusted basis from the week before.  more...

Another dip in overnight real estate rates

By Inman News, Tuesday, June 26, 2007.

Long-term mortgage interest rates sank again Tuesday, and the benchmark 10-year Treasury bond yield held at 5.08 percent.

The 30-year fixed-rate average dropped to 6.3 percent, and the 15-year fixed rate dipped to 6 percent. The 1-year adjustable stood at 5.54 percent.

The 30-year Treasury bond yield stayed at 5.2 percent.

Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.  more...

California Realtors weigh options for statewide MLS Premium Content

By Glenn Roberts Jr., Tuesday, June 26, 2007.

Local and regional collections of for-sale property information that are separately maintained by dozens of multiple listing services in California would become available on a statewide basis to agents and brokers under a plan that is under consideration by the California Association of Realtors, and the group's leaders are also considering a more comprehensive plan to build a consolidated statewide MLS.  more...

InmanTV: Online leads

By Inman News, Tuesday, June 26, 2007.

Dave Marron, CEO of SphereBuilder, talks to Inman News Editor Jessica Swesey about the evolving role of lead generators, and understanding the math involved in strategizing conversion points.

Home builder Lennar Corp. reports $244M Q2 loss

By Inman News, Tuesday, June 26, 2007.

Lennar Corp. (NYSE: LEN), one of largest U.S. home builders, this week reported a second-quarter net loss of $244.2 million, compared with net earnings of $324.7 million for second-quarter 2006.

That represents a loss of $1.55 per diluted share for the quarter ended May 31. Following the earnings announcement, the company's stock price per share dropped $1.20 on Tuesday to $37.55.  more...