May 4, 2010
Chula Vista, CA — Central Pacific Bank completed its sale to Lanes End, LLC, consisting of 56 alley loaded, single-family detached lots located in the Village of Montecito area within the Otay Ranch Master Planned Community.
The 838-acre village of Montecito is located on a mesa between Olympic Parkway and Wolf Canyon within the City limits of Chula Vista in the County of San Diego.
Central Pacific Bank is the main subsidiary of Central Pacific Financial Corp., a Hawaii based financial institution with $4.9 Billion in assets. Central Pacific Financial Corp.'s stocks are publicly traded on the New York Stock Exchange under the symbol "CPF".
Lanes End, LLC intends to commence construction of the 56 homes in the 2nd Quarter of 2010.
Graham G. Weiss at GW Realty Co. exclusively represented Central Pacific Bank on this transaction. For additional information regarding this transaction or other Southern California opportunities, please contact GW Realty Co. at (858) 622-7171.
GW Realty Co. specializes in real estate brokerage and valuation consulting with an emphasis in residential land throughout Southern California. With over $2 Billion in closed transactions since 1993, GW Realty Co. is widely recognized among the leading residential land brokerage firms throughout all of the California submarkets. Additionally, GW Realty Co. is proud to have a successful working partnership with Chaparral Land Company located in Newbury Park, CA.