October 13, 2016
Owens Realty Mortgage has entered into an agreement to sell part of The Chateau at the Village in Lake Tahoe to Jianping Pan, Kawana Holdings LLC for $42.5 million. If the transaction closes, Kawana Holdings will end up with eight acres and entitlements, along with parking and garage structures on the 11.5-acre mixed-use property.
Chateau at the Village on Lake Tahoe Blvd., has a somewhat checkered history. The property remained untouched during the recession, as the developer ran out of money. Owens Financial acquired the property, and built 31,000 square feet of retail space, as well as condominiums and parking. Kidder Matthews has been marketing the property.
The transaction is anticipated to close in late March.
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