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The Bascom Group in Irvine has acquired Harvard Villa Apartments, a 64-unit infill apartment community in Torrance for $14 million.The deal closed April 27. Hooman Emanuel of Emanuel Real Estate Group represented the seller. Erich Pryor and Thomas Sherlock with Talonvest Capital arranged the $11.45 million loan from TCF National Bank. James D’Argenio and Chang Liu sourced and managed the acquisition for Bascom. Harvard Villa marks Bascom’s 37th multifamily property closed in Los Angeles County and its 167th multifamily property closed in California, according to the company.
Tustin-based New American Funding is expanding into Naperville, Ill. This newest branch marks the second Chicago-area opening for the mortgage company in six months. The Naperville branch will be a full-service location that caters to the residential mortgage needs of local consumers and real estate agents.
Ray Fernandez with TNG Real Estate Consultants has opened a new office at Northgate Town Center. The address is 1439 W. Whittier Blvd.
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Paul Ruig has been promoted to vice president of the Greater Los Angeles region by C.W. Driver Cos., a general contracting, construction management and design-build services company with offices in Irvine and Anaheim. Ruig moved up the ranks at C.W. Driver Companies after serving as a project executive, project director and senior project manager. Ruig previously was a construction manager at Whiting-Turner Contracting Co. and construction coordinator at Sony Entertainment and Columbia TriStar Television. He is a resident of Ladera Ranch.
Shane Flanigan has been named regional vice president at RiverRock Real Estate Group, a privately owned property and asset management firm in Newport Beach. Flanigan will oversee all operational activity for the Southern California region with a primary focus on client service and expanding the firm’s offerings as it grows the portfolio. Flanigan previously served as vice president of operation for PMRG in Southern California where he was responsible for all property management and operational activities in Orange, Los Angeles, Inland Empire, and San Diego counties as well as Arizona. RiverRock manages 12 million square feet of office, industrial and retail space in Southern California with a total management portfolio of more than 26 million square feet throughout the Western Region.
Irvine-based general contracting firm R.D. Olson Construction hosted its eighth annual R.D. Olson Construction Charity Golf Tournament on April 24 at Oak Creek Golf Club in Irvine. The event raised more than $60,000 for Pediatric Cancer Research Foundation. More than 150 commercial real estate professionals from across Orange County participated. The tournament, which included a round of 18 and silent auction, was launched in 2010. The Pediatric Cancer Research Foundation was founded in 1982 to improve the care, quality of life, and survival rate of children with malignant diseases.
Goldrich Kest, owners of Newport Dunes Waterfront Resort in Newport Beach and Huntington Beach-based Sunset Marina, is celebrating its 60th anniversary by launching “60 Acts of Kindness” campaign. The company was founded by Jona Goldrich and Sol Kest, both Holocaust survivors who have since passed away. The company is seeking submissions from those in need who need a boost to improve their lives and/or the lives of their families and communities. Examples: Perhaps a bicycle was stolen and that was a primary mode of transportation to and from work; a student needs a computer to help her with her studies; a senior citizen requires a wheelchair but lacks the funds to purchase one; a single mom needs help with childcare, etc. To be considered, send a concise one-page description of your need to 60Acts@frankgroffinc.com.
The real estate briefs are compiled by contributing writer Karen Levin and edited by Samantha Gowen, business editor at the Register. Send related items to firstname.lastname@example.org. Allow one week for publication. High-resolution photos also can be submitted.