California Legal and Regulatory News

In investment related news, the  A&B Properties Corporation, which is a large real estate subsidiary of the Alexander & Baldwin Corporation,
has just sold Venture Oaks, which is a large (100,000 square-foot, 5-story) office structure in Sacramento. They have officially sold this particular property to KBS City Gate Plaza, Limited Liability Company, according to the press release.
 All in all, they intend to put the proceeds from this sale to work, on a tax-deferred rollover, in replacement properties which have a higher profit ceiling overall.
They are located in the Gateway Ctr. district of South Natomas in the inland empire. The commercial property’s main tenant, occupying almost ninety percent of the building, is the State Compensation Insurance Fund, according to the report.
They will still have real estate in Kauai, Hawaii plus 8 additional states, including Sacramento.
By the way, here are a few facts about this firm: A&B is headquartered in Honolulu, Hawaii and is engaged in ocean transportation as well as logistics services through its subsidiaries. Specifically, for it’s real estate through the A&B Properties corporation and in food products through Hawaiian Commercial & Sugar Company plus the Kauai Coffee Company, Corporation.
They have been involved in Kauai real estate for some time.  It is not known at this time if they will sell off any of their Hawaii or Kauai real estate holdings any time soon. They have issued no statements about their Hawaii and kauai holdings in connection with their Sacramento sale so we will have to wait and see.

December 19, 2008 (by Michael Ehline)

According to reports the Swedish hip-hop artist David Moses Jassy who has been accused of alleged road rage in the death of John Osnes a jazz pianist pleaded not guilty.

These charges stem from an incident that occurred in November when Osnes age 55  was walking across an intersection according to police, when Jassy driving an SUV drove into the crosswalk. Police then stated that Osnes struck the front of the vehicle; this is when police allege Jassy exited the vehicle, punched and kicked Osnes. Then police stated that Jassy returned to the vehicle and drove over Osnes.

Jassy age 34 is currently in custody on $1 million bail and being represented by attorney Donald Etra. Etra made a statement after the Superior Court arraignment where Jassy plead not guilty that they will aggressively defend the charges and Jassy understands the seriousness of the charges against him.