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Santa Barbara’s El Prado hotel sold

By   /  Monday, October 15th, 2012  /  Latest news, Real Estate, Tourism  /  Comments Off on Santa Barbara’s El Prado hotel sold

The 68-room El Prado and Days Inn hotel on mid-State Street in Santa Barbara has changed hands. Terms of the deal were not disclosed, but the property was listed at $15.3 million, according to Radius Commercial Real Estate & Investments. A group of South Coast investors purchased the 1601 State St. property with the intention Read More →

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Madonna Road apartments sell for $10.5M

By   /  Thursday, October 11th, 2012  /  Latest news, Real Estate  /  Comments Off on Madonna Road apartments sell for $10.5M

A 120-unit affordable housing apartment complex in San Luis Obispo has changed hands for $10.5 million. Seattle-based Vitus Group, an affordable housing developer, purchased the property at 1550 Madonna Road, which is on the west side of San Luis Obispo off Tank Farm Road. The seller was a local affiliate of the United Brotherhood of Read More →

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Move buys Relocation.com for $11.5M

By   /  Thursday, October 11th, 2012  /  Banking & Finance, Latest news, Technology, Tri-County Public Companies  /  Comments Off on Move buys Relocation.com for $11.5M

Online real estate company Move has purchased Relocation.com, a marketplace for homebuyers, renters and moving and storage professionals, for $11.5 million in cash. Move, which also operates Realtor.com and Move.com, said the deal represents another step towards its ultimate goal of creating a one-stop online shop for home buyers and renters. “Our goal is to Read More →

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Oxnard Residence Inn by Marriott sold for $23.6M

By   /  Wednesday, October 10th, 2012  /  Latest news  /  Comments Off on Oxnard Residence Inn by Marriott sold for $23.6M

Capping a spree of hotel real estate deals in Ventura County, the Residence Inn by Marriott in Oxnard has changed hands for $23.6 million. Pasadena-based investment company Cavort Properties bought the Residence Inn on Vineyard Avenue next to the River Ridge golf course in a deal that closed on Oct. 1. The hotel, along with Read More →

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So. Cal gas spike hammers independent stations

By   /  Friday, October 5th, 2012  /  Latest news, Tri-County Economy  /  Comments Off on So. Cal gas spike hammers independent stations

Independent gas stations in Southern California may experience price spikes and even shortages this weekend as problems at several Golden State refineries culminate to produce a supply pinch. “My wholesale prices went from $3.98 a gallon to $5.08 a gallon, and we are now selling at $4.39 a gallon,” Sam Seng, owner of Fred’s Gas Read More →

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Venoco founder closes deal to take firm private

By   /  Thursday, October 4th, 2012  /  Latest news, Tri-County Public Companies  /  Comments Off on Venoco founder closes deal to take firm private

With $471 million in financing, Venoco founder Tim Marquez is taking the oil and gas company he founded private more than a year after his bid to buy up the 49 percent of the company he doesn’t already own. Venoco, which is based in Denver but has significant operations on the South Coast, announced the Read More →

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Congressional candidates joust over taxes, housing

By   /  Wednesday, October 3rd, 2012  /  Latest news  /  1 Comment

[EDITOR’S NOTE: Correction appended below.] Assemblymember Julia Brownley and state Sen. Tony Strickland clashed over fiscal policy, housing and education at an Oct. 2 debate in Thousand Oaks as their campaigns for the 26th U.S. Congressional district remained a close contest. Held at California Lutheran University, the debate turned especially heated when Brownley accused Strickland of voting against California’s Homeowners Bill of Read More →

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