SEC (Securities and Exchange Commission charged two San Francisco promoters and a Minneapolis-based attorney with defrauding investors in a real estate lending fund by concealing the financial collapse of the fund’s sole partner. According to SEC Todd A. Duckson, a Minnesota attorney and Michael W. Bozora and Timothy R. Redpath who reside in Marin County, [...]
The Lembi family properties are changing owners now: Prado Group LLC and Angelo, Gordon & Co. has bough a 250-unit portfolio of San Francisco apartment buildings for $30.3 million. The Lembi Group, which previously owned the property owned another 50 buildings. The transaction is one of the latest in the series of sales involving properties [...]
Foreclosures bring new life in repossessed properties. Most of the time properties are going back to the lenders, banks and their plan is to attract new tenants and investors to these properties that were otherwise stagnant. "A landlord can’t make deals if a building is in default," said Tom Maloney, head of the Jones Land [...]
According to a recent report published by CoreLogic California is one of the five states with the most negative equity in its real estate market. The Santa Ana based research firm said 33% if residential properties with mortgages in California are underwater – which means property is worth less than is owed on the loan. [...]
