BUSINESS BRIEFS
Three Nevada Bob's stores bought
Advertiser Staff and News Services
A Southern California-based retail golf supply and apparel company has purchased the three Nevada Bob's golf stores in Hawai'i.
Al Morris, president of Roger Dunn Co., said he closed the deal Saturday to acquire the Nevada Bob's shops in 'Aiea, Honolulu and in Kihei on Maui from Barbara Schroeder, president of Nevada Bob's in Hawai'i. Terms of the deal were not released by Morris yesterday.
Morris said the stores will be renamed "Roger Dunn Golf Shop" and the inventory will be increased. No other major changes are planned. Morris said he will keep the 25 employees and may open a fourth store, but declined to say where that may be.
With the new acquisitions, Morris owns and operates 37 stores in three states under the names Roger Dunn, The Golf Mart and Van's Golf Shops.
HOME PRICES OFF IN CALIFORNIA
LOS ANGELES — Eight major markets in California saw home prices decline in September from the same month last year, a real estate research firm said yesterday.
Statewide, the median price paid for new and resale houses and condominiums in September was $466,000, up just 2.4 percent from $455,000 in the year-ago period and down 1.3 percent from August, according to DataQuick Information Systems.The last time the median price rose at a slower pace was February 1997, when it increased 1.3 percent to $150,000.
APARTMENTS SOLD FOR $5.4 BILLION
NEW YORK — One of the largest apartment complexes in the nation was sold to a developer yesterday for $5.4 billion after a bidding war that included tenants who feared that their middle-class homes would be replaced by top-dollar luxury apartments.
MetLife Inc., one of the nation's largest insurers, announced the sale of the Peter Cooper Village and Stuyvesant Town apartments to the Tishman Speyer development company in a joint venture with BlackRock Realty, the real estate arm of BlackRock Inc. The $5.4 billion price tag makes the sale one of the biggest residential real estate deals ever.
