SOURCE: Kraemer Land Company
FONTANA, CA and PLACENTIA, CA--(Marketwire - Aug 1, 2012) - Kraemer Land Company, formerly FKC Properties, has renamed the privately held, fully integrated real estate firm with plans to substantially grow the company's portfolio. The company is accelerating deal activity with an initial $3.1 million purchase of 19.4 acres of residential land in Fontana, Calif.
With Orange County roots dating back to 1860, Kraemer Land Company is making an aggressive move as an active real estate player in pursuit of properties across California. The company is well known as one of the largest Orange County land developers, creating communities such as Placentia and Yorba Linda.
"This purchase marks the first of a number of significant announcements for Kraemer Land Company in the next coming months," said Brett Albrecht, managing director for Kraemer Land Company. "The timing and the economic status of the market makes it a prime time for a number of investment deals across California."
The residential property acquired by Kraemer Land Company is located in the SW corner of Beech Ave. and Sierra Lands Parkway in a key suburban area of Fontana. The property is currently mapped for 201 townhomes, however other design options will be explored before the final map is recorded.
Kraemer Land Company purchased the asset in a joint venture with a real estate development company, CenterStone Communities. Headquartered in Santa Ana, CenterStone is well known for building residential communities throughout Southern California and Nevada.
Nasser Mustafa and Jeff Patty of Asset Solutions Group from Costa Mesa represented the seller in the transaction. Kraemer Land Company and CenterStone Communities were represented by Steve Sims and Adam Deermount of Land Advisors Deermount in Irvine.
About Kraemer Land Company
Kraemer Land Company, formerly FKC Properties, Inc., is a privately held, fully integrated real estate firm with over 50 years of hands-on, cycle-tested experience in acquiring, developing, leasing, repositioning, managing, financing and disposing of real estate. With Orange County roots dating back to 1860, the direct descendants of the Kraemer and Yorba families started Kraemer Land Company based on the philosophy that its real estate holdings should be capable to succeed in all real estate cycles.
Today, Kraemer Land Company owns and operates a diverse portfolio consisting of commercial and residential projects throughout Southern California and Nevada, with offices located in Orange County and Las Vegas. www.KraemerLand.com.