A 23-room luxury inn in Glen Ellen, the Gaige House has hit the auction block for $8 million. The historic property became victim of the economic downturn in Sonoma County lodging sector, as it went back to its lenders. However, the hotel, which posted a $1.6 million revenue last year remains open while the lenders [...]
The 450-units of mixed-income housing near Transbay attracted four development teams, who submitted their proposal before the 3 p.m. deadline October 5. A series of city-owned parcels are going to private developers in the city’s effort to raise money for the Transbay terminal which being billed as the Grand Central Station of the West. This [...]
It’s been almost five years ago that One Rincon Hill opened its sales office door. At that time, with “One Gincon” signature cocktails in their hands, buyers lined up until late in the evening for the right to reserve a unit in the building. But 3 years after the owners moved into the high-rise apartment, [...]
The San Francisco Redevelopment Agency can expect a $18 million down payment as soon as there will be a winner for the construction of 450 units of mixed-income housing near the Transbay Terminal. The amount can lessen to $15 million if the builder is willing to work out a participation payment plan with the city. [...]
Financial distress doesn’t avoid churches. Now the San Jose-Mekane Rama Saint Gabriel Cathedral in San Jose faces hard financial times, as it is threatened with foreclosure The cathedral was established in 1986 by few Ethiopians who wanted to have a place of their own to worship and fulfill spiritual needs and the real estate served [...]
Sunnyvale Town Center went back it Wells Fargo on a public auction August 17, as no one bid on the property except the lender, so it won control on the 36-acre mixed used project with an $108.8 million credit bid. “Based on today’s action, the bank now has legal control of the town center project [...]
Santa Clara County Superior Court stopped the sale of the troubled Sunnyvale Town Center 30 days ago. But according to sources the proposed 36-acre foreclosed mixed-use development project will go up for public auction Aug. 15. The previous sales attempt was stalled after the court-appointed receiver tried to sell the real estate without an open-auction [...]
A Chabad House in the heart of San Francisco was recently saved from foreclosure, by “loving members from the community who came together to save the day.” Rabbi Ahron Hecht of the 15-year-old Richmond Torah Center gave the happy news to the board of directors: $49,000 had been donated before a mid-June deadline. The amount [...]
Two limited partnerships in which Russ Flynn, a San Francisco real estate owner invested are now the happy owners of two locally owned properties. The properties were purchased through a deed in lieu of foreclosure, after purchasing the defaulted notes from UBS Real Estate Securities Inc. The acquirers were represented in the purchase of the [...]
David Choo, an embattled San Francisco real estate investor, must gather his forces to hold onto the site. This prime development site is right across from the Transbay Terminal. The problem is that Morgan Stanley and Lincoln Property Co. initiated foreclosure on the property. The notice of default came May 23 for the San Francisco [...]
