Larkspur Hotels has sold another property from its four-star hotel collection. This time a direct competitor was the buyer: Kimpton Hotels snapped up the 84-room Riverplace, gaining itself a third property in Portland, Oregon. Terms of the deal were not immediately available. Larkspur has been selling off its four-star properties piecemeal since Farallon Capital, its partner in the properties, decided to get out of its investment in June 2011. The first Larkspur Collection sold to LaSalle Hotel Properties in October 2011...

Sacramento real estate developer Sotiris K. Kolokotronis filed for personal bankruptcy Friday, listing debts of more than $130 million and assets of $3.2 million. Concurrent with the filing, his bankruptcy attorney Walter Dahl issued a news release that said Kolokotronis’ continuing dispute with an investment firm triggered the filing. That firm, an entity of Ayres Advisors of San Diego, has been pursuing a $16.5 million judgment against Kolokotronis for several years. The Chapter 7 liquidation case could resolve that judgment and protect some of Kolokotronis’ personal assets...

Addison-based Behringer Harvard says it's current on interest payments on Frisco Square and expects its "technical default" to have minimal short-term impact on the operations of the mixed-use property north of Dallas. Behringer Harvard Opportunity REIT I Inc. defaulted on the balance of $44.1 million in loans it took out for its investment in Frisco Square. The debt came due on Jan. 28 on six tracts of land for the Frisco project, according to a Securities and Exchange Commission filing. Behringer Harvard said it was working to extend the maturity date on the loan...

U.S. Bankruptcy Judge Marc Barreca this afternoon granted a motion allowing $2.8 million to be disbursed to about 200 creditors of bankrupt Seattle developer Michael R. Mastro. Bankruptcy trustee Jim Rigby said unsecured creditors with allowed claims will be getting checks mid-month. Money will be set aside for unsecured creditors whose claims are yet to be determined. The money is coming from proceeds of the December 2010 sale of the Mastros' waterfront Medina mansion for $9.1 million. In granting the motion, Judge Barreca ruled against Monaco businessman Hendrik Dorssers, a Mastro associate...

The Redevelopment Commission of Greensboro anticipates having a master development agreement in place before the end of the year and selling seven acres of city-owned land to a developer in December for a mixed-used project at South Elm and Lee streets. The commission gave a nod to the timeline during its meeting that laid out the three-step process leading up to breaking ground next year on the $42 million project that is expected to include 168 market-rate apartments, retail space, a 75- to 90-bed hotel and 25 town house or condo units...

Scottsdale-based MC Companies and Phoenix-based Clark-Wayland have merged to create a joint venture called MC Clark-Wayland. The venture will focus mainly on development and construction of new multifamily projects in Phoenix and Tucson. The combined company has about 175 full-time employees. It currently has two projects under construction in Tucson. “Together, the company is a full-spectrum real estate company with a depth that investors will appreciate,” said Jere Clark, principal of Clark-Wayland...

Transmark Co. of Greenwood Village has bought the Broadridge Plaza shopping center in Littleton. The center, on south Broadway and West Ridge Road, sits on 10 acres and includes six buildings with 79,545 square feet of retail space. It was 91 percent occupied at the time of the sale. Transmark, doing business as Broadridge Plaza LLC, bought the property for $4.7 million from sellers Broadridge Jero LLC, the majority owner, and Broadridge Brad LLC. The new owners plan improvements to the common areas and building exteriors...

A&B Properties Inc. has reached an agreement to purchase the former CompUsa property in Honolulu from Kamehameha Schools and has plans to develop a residential high-rise condominium tower on the site. Terms of the deal were not disclosed. The property, which is bordered by Ala Moana Boulevard, South and Keawe streets, is part of Kamehameha Schools' master plan to redevelop its 29-acre Kakaako mauka properties and is adjacent to a planned 60,000-square-foot retail and restaurant redevelopment. A&B Properties, a subsidiary of Alexander & Baldwin Inc...

Freebirds World Burrito is opening two new burrito joints in Houston this month. The Austin-based restaurant chain will open a restaurant at the Enclave Shopping Center Feb. 6 and and one in Conroe at 1188 W. Dallas St. Feb. 7. The two new Freebirds locations will employ a total 60 employees. The company known for its “monster”-sized burritos opened a restaurant in Tulsa, Okla. in November. Tavistock Restaurants LLC operates 66 Freebirds in Texas, California and Oklahoma. It founded about 20 years ago.

Medical real estate is a hot item for some commercial brokerage firms right now, and Birmingham-based Shannon Waltchack LLC is hoping to get a piece of the action. The company recently bought a 10,400-square-foot, class-B medical office building at Shelby Baptist Medical Center from Alabaster Dental Associates for $530,000, or $50.96 per square foot, and plan a $250,000 renovation. The two-story building, which was built in 1980 and renovated in 2003, was originally listed at $800,000. Aliant Bank is financing the deal, which bumps up Shannon Waltchack’s medical portfolio to 150,000 square feet, including the second, 20,000-square-foot office building it already owns at Shelby Baptist...

More than three years after Vornado Realty Trust (NYSE: VNO) abandoned the Filene’s site, leaving a hole in Downtown Crossing, the New York real estate company has reached a deal to team up with a local developer to jump start the stalled project, according to Mayor Thomas M. Menino’s office. Millennium Partners, which recently broke ground on Hayward Place, a $200 million mixed-use residential project on lower Washington Street near Downtown Crossing, signed the accord late Thursday with Vornado...

The Wichita Area Association of Realtors handed out a bevy of awards Thursday evening at its annual awards program, including one that dates back to 1926: the Walter Morris Broker of the Year Award, which began as the Realtor of the Year Award. That went to Ken Seager of RE/MAX Realty Centre. Cheryl Huebert of RE/MAX Realty Professionals received the Nestor R. Weigand Jr. Distinguished Service Award, which began as the Salesperson of the Year Award and dates to 1956. Other winners include: • Tim Holt of Golden Inc...

EIS, check. Approved commissioners, check. For Castle & Cooke Hawaii Homes’ $2 billion, 5,000-home Koa Ridge development on Oahu, it’s been anything but smooth sailing. The 10-year dragged-out process dealing with the petition to change the land designation from agricultural to urban was approved twice but then denied through protests from the Sierra Club. The third try began Thursday morning at a packed state Land Use Commission meeting room in downtown Honolulu. Castle & Cooke made its case throughout the morning and into the afternoon...

The iconic Cave B Inn & Spa and Cave B Winery in Quincy will be sold at auction March 15, along with some parcels at the SageCliffe Master Planned Resort. Located near the Gorge Amphitheater, Cave B Inn has 30 guestrooms, including 15 stand-alone "Cliffehouses," a spa, a pool and the Tendrils fine-dining restaurant. The property is located at 344 Silica Rd. NW in Quincy. The SageCliffe Master Planned Resort parcels include vineyards, orchards, the Cave B Winery and 25 yurts that are located adjacent to the resort...

You may know the office vacancy rate in SoMa or Jackson Square or Mission Bay or the South Financial District. But if you want to know the percentage of vacant square feet in TriSoMa you will have to talk to Dan Cressman. (Or perhaps read this blog entry to its conclusion.) Unhappy with the established crop of sub-districts that define the world of San Francisco commercial real estate, the seasoned Grubb & Ellis broker has coined a new one: the Social Media Triangle of the South of Market. Obviously, TriSoMa is not a new place, but a new way of looking at a map...

The Melrose shopping center in Berry Hill, the site of a proposed 199-unit apartment project, has sold for $4.7 million. Melrose Partners LLC bought the nearly 7-acre site. The seller was Melrose Biloxi Partners LLC. The property sold in 2007 for $4.2 million. Last year, a partnership between Franklin-based Parkes Development Group, LLC and Nashville-based Fulcher Investment Properties, Inc. proposed building three new apartment buildings at the site. Under the plans, the shopping center, once home to Melrose Lanes, would be preserved and incorporated into the new development.

The National Capital Planning Commission approved plans Thursday for a $300 million redevelopment in Bethesda slated to bring about 3,000 federal workers to the former National Geospatial-Intelligence Agency headquarters off MacArthur Boulevard and Sangamore Road in Montgomery County. But in doing so, members of the commission and several neighborhood groups raised concerns about elements of the project including the appearance of a parking garage to be built at the site and the removal of several trees to make way for the development...

Construction jobs may be somewhat scarce in the Sacramento region because of the economy. A good gig, if you can get it, is that of an elevator installer or repairer, according to a new analysis. That job, in the construction and extraction occupations, makes an average of $101,030. On Numbers analyzed pay for workers involved in construction, installation, maintenance and repair, using data from the U.S. Bureau of Labor Statistics. The next highest paying job in construction and extraction in the Sacramento region is that of a supervisor...

Three big property sales in less than a week in the Seattle area show that the commercial real estate market continues to thaw. On Jan. 27, longtime local apartment developer Claudio Guincher of Bellevue-based Continental Properties Inc. sold two apartment properties in Kirkland to Englewood, Colorado-based apartment investor Archstone for $47.46 million. Continental bought the multifamily properties, which include the 29-unit Aqua View and 102-unit Carillon Heights apartment complexes at 5502 and 5306 Lake Washington Blvd...

One of the region’s largest owners of shopping centers is boosting its California holdings. Donahue Schriber, which has 19 local shopping centers and three more in development in the Sacramento region, announced Thursday that it purchased two centers, one in Paso Robles and another in Port Hueneme in Ventura County. The acquisitions are part of Donahue Schriber’s strategic plan to buy retail properties in California’s coastal communities and the Pacific Northwest, a news release said. Last July the Costa Mesa-based company refinanced and attracted more capital in the tune of $1...