North Bay Business Journal

Lender takes back Pinnacle properties

SANTA ROSA – Pinnacle Homes, a longtime Santa Rosa homebuilder, has shuttered its doors after two properties totaling $3.865 million fell out of Chapter 11 bankruptcy reorganization and were taken back by San Rafael-based Westamerica Bank.

Builder seeks the perfect energy-efficient home

SANTA ROSA — Homebuilder Meritage Homes worked for two years on research and development to create an energy-efficient home that could have a zero carbon footprint but not cost more or reduce comfort.

Distressed-loan home sales slip in first quarter

There was a dramatic drop in the number of North Bay homes in the first quarter of this year sold while facing foreclosure or after having been taken back by lenders compared with a year before, and there was some improvement in the proportion of distressed-loan homes selling compared with the rest of the market, according to figures released this morning by a real estate tracking service.

Zephyr Real Estate moves into Marin

CORTE MADERA — Zephyr Real Estate, a 32-year-old San Francisco residential, commercial and luxury real estate brokerage, opened a new location in Marin County.

Homes in Southgate in Petaluma up for sale April 30

PETALUMA – DeNova Homes is hosting a grand opening event for Cottages and StoneBrook two new home communities in the Southgate neighborhood of Petaluma.

RealFacts forms alliance with real estate analysis, consulting firm

NOVATO — Multifamily real estate research firm RealFacts of Novato has formed a strategic partnership with Meyers LLC, a Southern California firm that specializes in real estate finance, investment and development analysis and consulting.

Buck Institute pursues own graduate program, revisits on-site housing project

NOVATO — The Buck Institute for Age Research is planning to launch its own graduate degree program and is preparing to add more parking and on-site housing for employees and students.

Greenbelt Alliance backs Napa Pipe plan

NAPA – Napa Pipe, the 2,580-unit proposed mixed-use development in the county of Napa, has gained the support of Greenbelt Alliance, a group that focuses on smart growth in the nine-county Bay Area.

Sonoma County Economic Development board releases data for nine cities

SONOMA COUNTY — The Sonoma County Economic Development Board, in partnership with city councils and chambers of commerce, has released a new series of City Economic Reports for each of the nine incorporated areas in Sonoma County. Areas covered by the reports include employment, demographics, residential and commercial real estate, consumer spending, and education.

Residential Real Estate: Investment firm Praxis buys 54-unit Texas apartment property

Santa Rosa-based Praxis Capital has acquired a 54-unit apartment complex in Austin, Texas. … Napa Pipe’s supplemental Draft Environmental Impact Report was released for comments on Feb. 14 and all comments are due by March 31. … Wells Fargo is forecasting that “exceptionally weak” demand will continue to challenge the housing market.

Redwood Trust fourth-quarter taxable loss improves, net income slips

MILL VALLEY — Real estate investment trust Redwood Trust Inc. (NYSE: RWT) today reported its fourth-quarter estimated taxable loss was $6 million, or per share, compared with $35 million such loss a year before and a $9 million such loss in the third quarter.

Study finds 60% of Marin work force commutes; housing prices to blame

MARIN COUNTY — Nearly 60 percent of people who work in Marin commute in from outside the county, farther on average than any other workforce in the Bay Area, according to a report by Live Local Marin, a special initiative of the Non-Profit Housing Association of Northern California and Greenbelt Alliance.

Finance & Real Estate: Two-year-old Praxis Capital launches real estate investment fund

Over the past two years, Praxis Capital — a real estate private equity investment fund led by Chris Peterson, Brian Burke and Eric Peterson — has bought and sold more than 220 single-family homes in Northern California — all distressed properties. … U.S. Housing and Urban Development Secretary Shaun Donovan unveiled HUD’s fiscal year 2012 budget proposal. Titled Creating Strong, Sustainable, Inclusive Communities and Quality Affordable Homes.

SBA approves 504 loans for refinancing commercial real estate

For the first time, the U.S. Small Business Administration is allowing for the temporary extension of the 504 loan program to allow refinancing of existing commercial real estate debt.

The Wine Country Group merges with Better Homes and Gardens

SONOMA and NAPA COUNTIES — Bay Area real estate industry veterans Ed Krafchow, Earl Shuttleworth and Gerrett Snedaker announced today the formation of Better Homes and Gardens Real Estate Wine Country Group Realtors with nine offices and over 180 agents concentrated in northern California’s Wine Country.

Commentary: Time to tell Solano’s story

Four years of Solano County’s economic development studies has shown that we are not what other people think we are.

Many in the Bay Area and Sacramento see Solano as a pass through agricultural open space area devoted to suburban sprawl growth patterns with lower-income job opportunities. They wrongly believe that Solano is either on the Bay Area fringe or the in between rest stop when traveling between San Francisco and Sacramento.

Marin Workforce Housing Trust gets $400,000 toward its goal of $6 million

SAN RAFAEL — Union Bank N.A. donated $100,000 to the Marin Workforce Housing Trust to help support affordable workforce housing in Marin County.

Top Projects: Housing: Vineyard Lodge, Culinary Institute of America

ST. HELENA — The 12,000-square-foot Vineyard Lodge dorm expansion at the Culinary Institute of America is LEED Gold certified and fully occupied by 60 new culinary students from all across the country.

Prudential California offices merge into Century 21 NorthBay

SONOMA COUNTY — The Prudential California Realty offices in Santa Rosa and Rohnert Park are merging with Century 21 NorthBay Alliance headquartered in Santa Rosa.

First Cal leases more space in Petaluma

PETALUMA — Banking on its preference for funding loans to homebuyers with stable finances, First California Mortgage plans to expand its headquarters office early next year to accommodate more than 50 employees hired locally this year.