REAL ESTATE
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New Investor in Area: Realty Investment Co., a large East Coast real estate investment firm, has opened an Irvine office with plans to buy up to $100 million worth of property in 1995. John Bernard, manager of the firm’s California office, said he thinks Southern California is “at or near the bottom of the trough. The area has been on its knees for some time now, but I think its ready to shake itself off.” Formed in 1951, the Silver Spring, Md.-based firm develops and purchases all types of real estate, including apartments, office buildings, shopping centers, nursing homes and hotels. Bernard said the company hopes to buy apartments as well as office, retail and industrial centers throughout Southern California.
--Compiled by Debora Vrana Times staff writer
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