Author: Agggregated News
Veritas CEO and Founder Yat-Pang Au Plans Comeback – The Real Deal
On a Thursday afternoon in January, on the sidewalk across the street from San Francisco’s City Hall, Veritas Investments lost about one-third of its multifamily holdings in the city. In an unprecedented public auction, Brookfield and local operating partner Ballast Investments officially took ownership of 2,150 units in 76 apartment buildings, having bought the nearly $1 billion in debt on the properties last fall. In the process, the investors helped themselves to the title of the city’s largest residential landlord. It was a crown Veritas had worn for years. Founder…
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Real estate rebound: not quite so fast – Marinatimes
Earlier in the year expectations were high that a real estate rebound was imminent. Inflation looked licked, the Fed was optimistic, sellers were preparing to put their houses on the market, and many buyers had resumed looking for their very own home sweet home. More recently, a sense that maybe it’s time to slow our roll has surfaced. Inflation ticked up slightly. The Fed has said it still plans to reduce interest rates, but not as much as once expected. “So far in 2024 we are seeing plenty of interested…
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Ex-Caltrain employee and contractor charged with building secret homes with public funds – KRON4
SAN FRANCISCO (AP) — A former employee of Caltrain, a mass transit system that connects Silicon Valley with San Francisco, and a former contractor for the transit agency allegedly used public funds to build two small apartments for themselves inside two train stations, authorities said Thursday. San Mateo County prosecutors charged Joseph Vincent Navarro, a former deputy director for Caltrain, and Seth Andrew Worden, a former employee of TransAmerica Services Inc., with a felony charge of misusing public funds, the Mercury News reported.Navarro and Worden didn’t immediately answer emails from…
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Presidio Bay Ventures Transforms San Francisco Office Building with Luxury Resort Amenities to Draw in Tenants – Hoodline
In a bold move to invigorate the office space sector, San Francisco developer, Presidio Bay Ventures, is ready to transform a near-60-year-old office building into an urban haven of hospitality and amenities that rival a luxury resort. As reported by The Standard, the concept, proven at their Springline project in Menlo Park, blends high-end facilities with working environments to lure employees back onsite. Last year, Presidio Bay picked up an 11-story building located on the corner of Spear and Mission streets for $40.9 million—a figure significantly lower than its previous…
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San Francisco office: Presidio Bay Ventures bets on resort model – The San Francisco Standard
Desmond Tan, owner of Burma Love and Burma Superstar, said his relationship with Presidio Bay this past year has motivated him to challenge other eager brokers, who are also courting him to open additional locations, to bring more to the table in terms of favorable rent conditions, capital improvements and help with local officials. As for whether the resort model has anything to do with his restaurant’s success at Springline, Tan said while it’s hard to draw a definite conclusion, he felt having a concentrated vibrancy has undoubtedly had a…
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Bay Area home sales shot up 25% in February. Could the surge last? – Silicon Valley
Real estate agent Julie Wyss knows that buyers are getting desperate to get their hands on a home, because even some of her less desirable listings are receiving offers over asking. Just last week, she sold a San Jose condo built in 2008 that overlooks the freeway for $60,000 more than the listing price. “It’s not even cute,” joked Wyss, who works mostly in the region’s largest city. “The agent who wrote the offer was basically begging.” Home sales across the nine-county Bay Area rose 25% in February from the…
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Bay Area home sales shot up 25% in February. Could the surge last? – The Mercury News
A “sale pending” sign is posted in front of a home for sale on November 30, 2023 in San Anselmo, California. The housing market could be a little friendlier to home buyers and renters in 2024. (Photo by Justin Sullivan/Getty Images) Real estate agent Julie Wyss knows that buyers are getting desperate to get their hands on a home, because even some of her less desirable listings are receiving offers over asking. Just last week, she sold a San Jose condo built in 2008 that overlooks the freeway for $60,000…
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Bay Area home sales shot up 25% in February. Could the surge last? – East Bay Times
Real estate agent Julie Wyss knows that buyers are getting desperate to get their hands on a home, because even some of her less desirable listings are receiving offers over asking. Just last week, she sold a San Jose condo built in 2008 that overlooks the freeway for $60,000 more than the listing price. “It’s not even cute,” joked Wyss, who works mostly in the region’s largest city. “The agent who wrote the offer was basically begging.” Home sales across the nine-county Bay Area rose 25% in February from the…
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