Elliston Vineyards, a 121-year-old complex has now a new owner: a joint venture of Asia investors. After paying down $1.75 million in cash, the four investors are reportedly ready to plunk down more money to renovate the complex and keep it operating as a winery and event center. “They like the property, they feel the [...]
A 82-unit condominium complex has defaulted on its $35 million loan, which means that a possible foreclosure is at the horizon. In addition to the bank’s lawsuit, another 19 subcontractors who worked on the property have filed complaints against San Rafael-based Monahan Pacific Corp., the project’s developer. These subcontractors demand $2.8 million in unpaid fees. [...]
It looks like we witness a new era in foreclosures: the era of lenders foreclosing on banks. This is based on a situation that happened recently in Sacramento: Intra-Pacific Commercial Inc foreclosed on a property in South Sacramento from Westamerica Bank. Westamerica Bank became the owner of the land through a series of events, including [...]
Nick Nardolillo faces several bad news these days. Fremont Bank has filed a lawsuit seeking to foreclose on the Livermore winery, where Nardolillo has been living for more than 10 years. This could happen just because of the housing crash that hit the market in 2008. The problem is that Nardolillo and his winery partners [...]
Unfortunately the holiday season doesn’t mean foreclosure freeze. East Bay has enriched its inventory of foreclosures with seven buildings as lenders have seized three big office projects. The properties that were repossessed in recent weeks include an office buildings and adjacent parking lot at 1111 Jackson St. in downtown Oakland; an office building at 2015 [...]
The former Town and County shopping center in the hear of Sunnyvale was sold for $19 million to a San Francisco development company. They purchased the property with plans to put 280 housing units and possibly street-retail on the site. According to a press release published by BRE Properties Inc. they purchased 2.4 acres of [...]
To some it may seem anomalous that property values in the South Bay district of San Francisco have emerged relatively unharmed after the global financial crisis, and indeed this is the case however, the San Jose district has also suffered from the lack of development funding. Residing in the most populous state in the United [...]
One man’s poison is another man’s meat. Nothing can be more true in Contra Costa County and San Jose region where the curse of foreclosures have turned into happy breeding and hunting grounds for mosquitoes infected with the West Nile virus. This was from reports coming in from Vector Control. Tim Mulligan said that a [...]
