Real Estate

A 504,000-square-foot warehouse-distribution facility in Riverside has been sold. Meridian Distribution Center II, which is part of the planned Meridian Business Park industrial project, sold for a reported $52 million, according to a  statement released Tuesday. Invesco Real Estate, a global real estate investment firm, bought the project from Sun …

Pardee Homes Inland Empire has broken ground on Atwell, a master-planned community in Banning. The project’s first phase will include 480 residential sites, two retail pads and a K-6 school site, according to a statement. It’s the first project of its kind in Banning in more than two decades. When …

Average multifamily rents in the United States rose $2 last month, a 3.1 percent increase compared with August 2017, according to data released this week. The average multifamily rent in August was $1,412, the seventh consecutive month that figure has hit a record high, Santa Barbara-based Yardi Matrix reported. Nationwide, …

Four point three percent of all mortgages in the United States were in some stage of delinquency in June, a slight year-over-year drop, according to data released Tuesday. June’s foreclosure inventory rate – which measures the number of mortgages in foreclosure –  was 0.5 percent nationwide, also a slight decline …

Housing prices in Riverside and San Bernardino counties rose 7.4 percent during the past year, according to data released Tuesday. Los Angeles County experienced a 7.6 percent housing appreciation between July 2016 and July of this year, while Orange County recorded a 5.9 appreciation rate during that time, Core Logic …

The Southern California housing market, which was red hot earlier this year, continued to slow in July. The median price of a home in the five-county region last month was a $530,000, a 5.8 percent increase year over year but still the weakest growth in 18 months, according to data …