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OC 50 – REAL ESTATE



GEORGE LEON ARGYROS

Chairman, chief executive

Arnel & Affiliates,

limited partner,

Westar Capital LLC

Born in Detroit, Feb. 4, 1937

Lives in Newport Beach (Harbor Island)

Real estate owner, business investor. Known as much for diplomacy, politics, philanthropy.

Started real estate developer, investor Ar-nel & Affiliates 40 years ago. Has apartments, offices, industrial, shopping centers throughout Southern California.

Owns some 20 apartment complexes, totaling more than 5,000 apartments in OC. More than 2 million square feet of office, industrial, retail space, much in OC. Also in City of Industry, Carlsbad.

Most prominent local holding: 52-acre Metro Pointe campus in Costa Mesa,280,000-square-foot shopping center, 300,000 square feet of offices, 300 apartments.

On hand for March ceremony marking Metro Pointe lease renewal, expansion of business software maker Syspro. Quizzed executives about products, market reach, competition.

Founding partner of investment firm Westar Capital, formed in 1987. Makes investments of $5 million to $25 million. Past investments include pet products maker Doskocil Manufacturing, cooler maker Igloo Products, home healthcare provider LifeCare Solutions.

Wealth estimated by Business Journal in August at $1.5 billion, about half from stocks. Forbes estimates wealth down $500 million since then due to market crash, lower property values. Says he’s long-term investor, market will recover.

Director at First American, where he’s an investor. Also on board of DST Systems, early Westar investment.

Tumult in real estate, credit markets expected to make Argyros more of a player in local, national deals. Said to be considering opportunistic investments. Rumored in late 2008 to be interested in buying Orange County Register, with former L.A. Times executive Larry Higby.

In 2007, started Arnel Hopkins Retail Group targeting Southern California developments. First project: 215,000-square-foot Imperial Plaza shopping center in La Habra, valued at $45 million.

Longtime Republican. New Majority board member. President Bush’s ambassador to Spain, 2001 to late 2004.

Backed John McCain’s presidential run. Served as initial finance committee co-

chairman. Hosted $25,000 a couple dinner for McCain at home.

Prolific political fundraiser. Ambassador appointment topped years of fundraising, including $30 million for 2000 Bush campaign.

Second-generation Greek-American. Born in Detroit, raised in Pasadena. First job mowing lawns.

In 1962, started selling land to oil companies for service stations. Bid on state land as freeways were built in OC. Went on to buy land for restaurants, stores. Made initial

fortune.

In 1981, paid $12 million for Seattle Mariners. Sold team in 1989.

Bought AirCal with OC 50er Bill Lyon for $62 million in 1981; sold to American Airlines five years later for $225 million.

One of county’s top arts patrons. South Coast Repertory stage named in wife’s honor.

Major contributor to Chapman University, where business school, student center, Argyros Forum bear his name. Also given to Performing Arts Center, Horatio Alger Association of Young Scholars.

1993 winner of Horatio Alger Award; association’s treasurer, chairman emeritus.

Honored in March by American Hellenic Council of California, given Aristeio Award for Excellence.

In 2007, received Marine Corps Schol-arship Foundation’s Semper Fidelis Award. Recent recipient of Norman Vincent Peale Award.

Alum of Michigan State, Chapman. Majored in business, economics. Served more than 26 years as chairman of Chapman’s board. Still a trustee. Honorary Pepperdine law degree.

Member, Bethesda, Md.-based Chief Executives Organization. Former chairman, current board member,

OC Council Boy Scouts of America. On Caltech board. Chairman, Beckman Foun-dation. Former chairman, Richard Nixon Library; founding chairman of Nixon Center in Washington, D.C.

Harbor Island neighbor of OC 50er Donald Bren. Wife, Julia (used to go by Judy). Three children, six grandchildren. Enjoys sailing, golf, fishing, hunting.

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Mark Mueller


DONALD LEROY BREN

Owner, chairman

Irvine Company

Born in Los Angeles, May 11, 1932

Driving force behind Irvine Company, county’s largest land owner, landlord.

County’s dominant businessman. Shaped OC’s development more than anyone. Has owned, directed company for more than two decades.

Big player in San Diego, Silicon Valley, Los Angeles, too.

Estimated empire spans 85 million square feet of commercial real estate. Owns 475 office buildings, 41 shopping centers, 115 apartment complexes, three golf clubs, five marinas. Rents bring in estimated $1 billion in yearly revenue. In good years, revenue from land sales can double that.

Added 5 million square feet in past year with nine apartment complexes, four office buildings, a hotel, shopping center expansions.

Arguably world’s richest real estate owner, even with industry downturn, recession. Business Journal pegs wealth at conservative $10.5 billion. Forbes estimates at $12 billion, says Bren is world’s wealthiest real estate owner.

Completed crown jewel last year: 500-acre Resort at Pelican Hill. Upscale hotel, resort facilities, restaurants, two golf courses along Newport Coast. Involved in all planning, from Renaissance-inspired architecture to restaurant table settings, staff uniforms.

Spared no expense, aiming to be among world’s top resorts. Slow start: Pricey resort seeing modest turnout amid down market. Disappointing, but no big worry for Bren. Project has no investors, minimal debt.

Apartments in Spectrum now only big local development under way. Working to fill Irvine office towers built during boom, now 65% full.

Landed high-profile, 200,000-square-foot lease with FDIC, filling much of 40 Pacifica tower in Irvine Spectrum. Largest office lease here last year.

Saw boardroom changes last year. Longtime No. 2 Michael McKee retired as CEO in September. Leadership now consists of Bren, group presidents Richard Gilchrist, Daniel Young, Gregory Lindstrom. All relatively new to roles (see entry below).

Bren remains active chairman.

Changes playing out amid slowed market. Cut workers in most divisions, at Newport Center headquarters.

Seeing little housing development on company land as homebuilders retrench. In no rush to sell idle land, unlike other private, public developers.

No major acquisitions in past year, following several billion dollars worth of office, apartment buys in OC, San Diego in recent years.

Student of the economy. Moves watched for clues about real estate. In late 2006, foresaw “loose lending practices” as worrisome issue.

Remains one of country’s most generous philanthropists. Lifetime giving has exceeded $1.3 billion, according to Businessweek.

Given $60 million to UC Irvine overall, including $20 million for law school opening this fall. Also given to UC Santa Barbara. Awarded UC, UCI Medals. Endowed more UC distinguished faculty chairs than any other donor.

Pledged some $10 million since 2006 to Think Together, Santa Ana nonprofit that offers after-school programs. Named ninth greenest business leader in world last year by Sunday Times of London.

Caretaker of historic Irvine Ranch, assembled by James Irvine more than century ago by acquiring land originally granted by Spanish, Mexican rulers.

Bren’s recent years devoted as much to conservation as development. In 2001, set aside 11,000 acres as open space. Has given $50 million to enhance land reserve, created nonprofit Irvine Ranch Conservancy to manage open space, improve public access. Previously gave 21,000 acres to Nature Reserve of Orange County.

More than half of 93,000-acre Irvine Ranch set aside for parks, open space. Large chunk designated as national natural landmark in 2006, state landmark in 2008.

Twenty years of development left on ranch. Estimated to have 27,000 acres of developable land, enough for 29,000 housing lots.

Private, some insist shy. Stays out of spotlight. Gentlemanly, sharp. Sets decidedly old-school tone. Suits required attire.

In 1958 founded homebuilder Bren Co., now California Pacific Homes. Later started Mission Viejo Co. with O’Neill-Moiso family, others. Sold stake to partners, who sold to Philip Morris in 1970s.

Part of 1977 group acquiring control of Irvine Co. Bought out most partners for $518 million in 1983. In 1991 paid $256 million court award to heiresses Joan Irvine Smith, mother Athelie Clarke for their shares.

Became 100% owner in 1996.

Among upper echelons of political influence. Sun Valley ski buddy of Gov. Arnold Schwarzenegger. Backed John McCain presidential run. Key member in New Majority formation.

On boards of UCI Foundation, Los Angeles County Museum of Art, OC Museum of Art, Caltech.

Former Marine at Camp Pendleton, gave $1 million for chairs at Marine Corps University in Quantico, Va. Did officer training at Quantico in 1957. In 1998 received Semper Fidelis Award for support of Marine Corps University Foundation.

Business administration, economics degree from University of Washington.

Mother Marion Jorgensen died last year. Jorgensen was married to movie producer Milton Bren, later steel magnate Earle M. Jorgensen, who died in 1999.

No talk of stepping back. Says Jorgensen, Arnold Beckman are idols. Both worked into 100s.

Married to entertainment lawyer Brigitte Bren, runs international business consultancy. Son born in 2003. Has other children. Two sons active in real estate here.

In 2005 moved to Harbor Island mansion on double lot. Splits time between Los Angeles, Harbor Island. Avid outdoorsman. Accomplished skier. Also windsurfs, sails, plays tennis.


Mark Mueller



RICHARD I. GILCHRIST

President, investment properties group

Born in Los Angeles, March 6, 1946

Lives in Newport Coast


GREGORY P. LINDSTROM

Executive vice president, general counsel,

Irvine Company

Born in Hollywood, Aug. 4, 1953

Lives in Laguna Beach (Emerald Bay)


DANIEL HARTLEY YOUNG

President, Irvine Community Development Co.

Born in Orange, Dec. 15, 1950

Lives in Coto de Caza

Three key Irvine Company executives after Don Bren.

Trio manages investments, land, operations of county’s most powerful company. All dealing with fallout from downturn.

Young handles housing project developments. Gilchrist manages offices, retail, apartments, other investment properties. Lindstrom, most recent addition, oversees corporate functions,legal, finance, communications, HR, technology.

Trio serves in Office of Chairman with Bren, managing core operations: land planning, community development, real estate management, corporate finance, strategy.

Former chief executive Michael McKee, longtime confidant to Bren, former OC

50er, retired in September. He, Bren had formed two-person operations management committee.

Young, nine-year company veteran. In late 2007 replaced retired Joe Davis, former OC 50er, head of company’s community development efforts since 1997.

Gilchrist took over dominant investment properties group in 2006 from longtime Bren adviser Clarence Barker.

Lindstrom transitioned to full-time during past two years, coming from Latham & Watkins. Had been senior company adviser until wrapping up Latham matters in San Francisco.

Was one of Latham’s heavy hitters. Special-ized in antitrust, intellectual property, securities, unfair business practices. Significant courtroom experience. Tried more than 30 lawsuits. Clients in-cluded Apple’s Steve Jobs, Oracle’s Larry Ellison.

Served as managing partner for firm’s OC, San Francisco offices. Long association with Irvine Co., Bren. Experience in real estate, land use, environmental law for landowners, developers, builders.

Served as legal adviser for Irvine Co. for more than 25 years. Handled Committee of 4000 litigation brought by land lease holders, landmark trial about title to Newport Back Bay islands.

Law degree from University of Chicago. Undergrad from UCLA. Fellow of American College of Trial Lawyers. Grew up in OC, Foothill High grad.

Wife, Carol, vice chairman of Deloitte. Two daughters. Hobbies include making ac-claimed Napa Valley cabernet.

Gilchrist’s group manages 475 office buildings, 41 shopping centers, 115 apartment complexes, three golf courses, three hotels, five marinas.

County’s biggest office landlord no longer building, focusing instead on leasing up space, especially at new towers in Spectrum, near John Wayne Airport. Dropping some rents at new buildings from prior expectations.

Nabbing some big names in Spectrum: FDIC leasing 200,000 square feet at new 40 Pacifica, KPMG getting name on top of 20 Pacifica.

About 4 million square feet of office leases since summer.

On retail front, Fashion Island adding Nordstrom, Dean & DeLuca. Some Irvine Spectrum Center shops have closed, filled by newcomers.

Apartment division still growing. Adding second big complex in Spectrum, first project there nearly full. Opened first ground-up development in OC not on historic Irvine Ranch in 2007, in Costa Mesa. Paid estimated $1.4 billion in 2007 for 90% stake in 16 Archstone-Smith apartment complexes.

Big portfolios in San Diego, Silicon Valley, Los Angeles. San Diego now second-largest market for company. Investing in apartments, offices there.

Gilchrist joined as president, office properties, after brief time as consultant. Prior to Irvine Co., served as president, co-chief executive of Maguire Properties in Los Angeles. Held exec role with Commonwealth Atlantic Properties.

After promotion, Gilchrist’s office properties title passed on to Val Wheeler, formerly executive vice president of asset management for office division.

Chairman of Whittier College Board of Trustees, where he received bachelor’s. Law degree from UCLA.

Wife, Nina, four children, two grandchildren.

Young directs development of communities on ranch, selling land to homebuilders. Pace of development at 7,700-acre Northern Sphere slowed with housing market in flux.

Developments include Woodbury, North-park Quail Hill, Turtle Ridge, Woodbridge in Irvine, luxury Crystal Cove, Newport Coast projects along ocean.

Portola Springs opened in 2007. Future developments include Orchard Hills, long-planned communities east of Orange, Ana-heim Hills.

Until 2007 promotion, responsible for getting Irvine Co.’s housing projects approved by governments, now oversees implementation of plans. Joined in 1999.

Considered key part of the company’s inner circle by local politicos.

Graduate of Santa Ana High School. Eight years as Santa Ana’s mayor, 11 years on City Council. City’s soccer field named for him.

Served on board of Metropolitan Water District, Orange County Transportation Auth-ority. On board of Santa Ana’s Taller San Jose, which provides education, job skills for at-risk young adults. New Majority member.

Bachelor’s from Cal State Fullerton, master’s in public administration from USC.

Wife, Leslee, three children. Avid golfer.

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Mark Mueller


MICHAEL FREDERICK HARRAH

Owner, president

Caribou Industries Inc.

Born in Los Angeles, March 25, 1951

Lives in Newport Beach (Lido Isle)

Mr. Big in county’s biggest city.

Owns close to 80 buildings, about 4 million square feet in Santa Ana’s downturn, Civic Center. Played key role in revitalizing Santa Ana. Restored buildings, attracted res-taurants, art galleries, others.

Hit snag with ambitious, much hyped project: One Broadway, $300 million, 37-story office tower that would be county’s largest at 491 feet high. Project on hold.

Won voter approval for tower four years ago. City requires him to lease half of 600,000-square-foot tower before building.

Has vision for sister condo tower next to One Broadway Plaza. Future questionable given housing slump, condo craze crash.

Forty-story condo tower in downtown Honolulu finished. Multimillion-dollar project, Pinnacle Honolulu, said to be sold out.

In past decade has redeveloped much of central Santa Ana. Supporters call him savior for restoring old buildings, reviving city. Critics say he’s changed historic downtown for worse.

Honored by Santa Ana Historical Pres-ervation Society as Preservationist of the Year, 2003.

In 2005, opened lavish theater, OC Pavilion, spending more than $20 million to convert former bank building. Earlier, converted old auto dealership into Original Mike’s restaurant. Eats there weekly. Shot elks whose heads hang on walls.

Owns Caribou Industries, development, construction, tenant improvement, property management company with offices on Main Street. Does estimated $30 million in yearly revenue.

Cluttered office overlooks One Broadway site. Papers piled high on desk. Pictures strewn about. Stuffed bear in corner.

Easily distinguishable from rest of local real estate elite. Sports ZZ Top beard, 6 feet, 6 inches tall. Piloted Cobra helicopter in stunts for movies “Austin Powers in Goldmember,” others.

Born in Los Angeles, grew up in Whittier. Son of machinist and Whittier High School teacher. Attended Rio Hondo College, Cal State Long Beach. At 19, worked as framing carpenter, then general contractor by 21, building Riverside apartments. Made small fortune by 25.

Large Lake Havasu deal led to 1990 bankruptcy. Emerged, turned to Santa Ana at time when city was left for dead.

Supports Orange County High School of the Arts, Boys & Girls Club.

Music fan. Plays drums, trombone, upright bass. Jovial. Rides Harley, pilots helicopter, collects vintage cars, smokes cigars.


Mark Mueller


JONATHAN MOSHEIM JAFFE

Chief operating officer

Lennar Corp.

Born in New York, Sept. 21, 1959


EMILE KHALIL HADDAD

Chief investment officer

Born in Beirut, Lebanon, June 14, 1958

Lives in Laguna Hills (Nellie Gail)

Lennar’s operations duo has county’s biggest homebuilding plans in works. Plans gathering some dust in downturn.

Key players for Miami-based homebuilder. Duo runs daily operations from Aliso Viejo. Miami headquar-ters handles Wall Street.

Country’s fourth-largest builder by revenue, yearly sales of $4.6 billion.

Jaffe No. 2 at Lennar, after Chief Executive Stuart Miller.

Haddad oversees big investment deals, asset management, including some of California’s largest projects.

Could add another: looking to take over bankrupt LandSource Communities Develop-ment, big Los Angeles-area land holder with 12,000 undeveloped acres.

Haddad could run LandSource if deal goes through. Expected to remain on big Lennar projects, too.

No end in sight for slumping homebuilding industry. Lennar’s 2008 revenue off more than 50% from year earlier. Lost $1.1 billion for year, driven by write-downs. Turnaround unlikely this year.

Making tough choices. Emphasis on balance sheet, cash generation, protecting key holdings. Still writing down land it no longer intends to build on.

Largest local projects in Irvine, Anaheim on hiatus until market recovers.

Stopped active sales at Irvine’s Central Park West housing development, delayed big plans for condo towers, shops, restaurants in Anaheim. No timetable set for homes, commercial development on former El Toro Marine base.

Still largest homebuilder in OC. Sold 243 homes here last year, down 46% from 2007. Building in Tustin’s Columbus Square, Irvine, Santa Ana.

Longer term, company plans some 15,000 homes in OC.

Strategic partners financing many projects, leaving builder with less debt tied to projects.

Will be ready with homes when market turns, Haddad says.

In 2005, pulled off biggest local real estate deal in recent memory: $1 billion buy of

former El Toro Marine base. Paid close to $250 million for land near Angel Stadium of Anaheim, $100 million for Irvine’s Central Park West site.

Duo earned Business Journal’s Business-persons of the Year honor for 2005.

Deals have propelled Lennar alongside Irvine Company, Rancho Mission Viejo, as one of largest developers here.

Jaffe led charge into California in 1995. Had to buy way into OC’s tight-knit homebuilding club, where big landowners, homegrown builders dominate.

Oversees homebuilding, land divisions in 15 states. Became executive officer with Lennar in 1994, vice president in 1999. Pro-moted to current post from Western region president five years ago.

On national advisory board of HomeAid America.

Undergrad degree from University of Florida, graduate studies in architecture at Georgia Tech University. Joined Lennar out of college.

Wife, Karen, three sons. Enjoys tennis, beach life, coaching Little League.

Haddad, like boss, has low-key style. Both deflect praise to others. Proud of Lennar’s management style, which includes company song, poem.

Led land development in Southern Cali-fornia for Canada’s Bramalea, which Lennar bought in 1996.

Has civil engineering degree from American University of Beirut, California licenses in engineering, contracting. Member, Urban Land Institute.

Left troubled Lebanon with now-wife, Dina. Couple had engagement party in Lebanon, married in Vegas. Daughter, 18, son, 12.

On board of Children’s Hospital of Orange County, UC Irvine’s Paul Merage School of Business, USC’s Lusk Center for Real Estate.

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Mark Mueller


WILLIAM LYON


Owner, chairman, chief executive

William Lyon Homes Inc.

Born in Los Angeles, March 9, 1923

Lives in Coto de Caza

Time of legacy building for “The General.”

Icon of local real estate working to keep Newport Beach homebuilder on solid ground,and in family hands.

Homebuilder that bears Lyon’s name saw another drop in business last year, as housing, mortgage markets suffered. Selling land, slowing construction to narrow losses. Lost $111 million last year, compared to $349 million loss in 2007.

Builds in California, Arizona, Nevada,all seeing big sales drops, mortgage fallout, falling home, land prices. Taken $366 million in land write-offs past two years.

2008 revenue of $526 million, down 52% from ’07. Was selling $1.7 billion worth of homes a year during market’s peak.

Some hope for 2009. Lower prices, tax in-centives helping drive visitors to developments.

Company sold 159 homes in OC last year, down 46% from 2007. Third-biggest homebuilder here in 2008, behind Lennar, Shea Homes.

Developing part of Tustin Marine base with OC 50ers Jon Jaffe, Emile Haddad of Lennar. Also building at Irvine Co. developments in Irvine.

Company owned by Lyon, two of his family trusts. Managing downturn as private company after 2006 buyout.

Paid about $275 million to buy quarter of company he didn’t already own. Final deal valued William Lyon Homes at about $950 million. Still reports financials for debt holders.

Apprenticeship complete: turning day-to-day over to Bill Lyon, 35-year-old son.

Younger Lyon named president, chief operating officer in March. With company since 1997, director since 2000. Held various roles at company. Recently ran mortgage brokerage division. Stanford grad.

Senior Lyon says son has “keen business acumen and strong leadership ability.”

Lyon in homebuilding for five decades. Built estimated 100,000 homes during career. Started Luxury Homes with brother Leon in Fullerton in 1954. Started William Lyon Co. in Newport in 1972. Named to California Building Industry Foundation Hall of Fame, 1985.

In 1987 acquired Newport’s Presley Devel-opment. Hit hard by downturn of early 1990s.

Started William Lyon Homes in 1993. In 1999 combined William Lyon, Presley creating William Lyon Homes, just in time for housing boom.

Owns majority of William Lyon Property Management. Company owns, manages about 10,000 apartments, primarily in OC.

Retired Air Force major general, served as chief of Air Force Reserve, 1975 to 1979. Seventeen combat decorations. Pilot during World War II, Korea.

In 1981, he, fellow OC 50er George Argyros paid $62 million to buy airline AirCal. Sold five years later for $225 million.

In late 1980s, formed Air/Lyon with former AirCal exec, provided ground services for airlines, private aircraft. Once owned Martin Aviation.

Avid car collector. Has some 100 classic, antique cars, including 10 Duesenbergs (only 480 made). Has old warplanes collection.

Politically connected. Board member, New Majority. Among top givers to Gov. Arnold Schwarzenegger. Early John McCain backer.

Attended Dallas Aviation School and Air College, USC. Honorary USC doctorate.

Director, Fidelity National Financial. Chairman, Commercial Bank of California.

Supporter of Performing Arts Center, Boy Scouts, Orangewood Children’s Foundation, where he’s founding chairman. Hospitalized in November for irregular heartbeat. Recov-ered quickly.

Funny. Droll, deadpan sense of humor. Fre-quent lunchtime visitor at Newport’s Pacific Club.

Lives with wife, Willa Dean, in mansion on 130-acre Coto estate. Five children.

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Mark Mueller


HADI MAKARECHIAN


Chairman, chief executive, president

Capital Pacific Holdings Inc.

chairman, Makar Properties LLC

Born in Tehran, Iran, Jan. 30, 1948

Lives in Newport Beach (Big Canyon)

Head of family real estate company that spans homes, hotels, massive swath of Colorado land.

Capital Pacific known for building big coastal homes. Makar Properties, run by son Paul Makarechian, owns hotels, developing condos, other real estate. Both businesses feeling downturn.

Biggest project yet under way for Capital Pacific east of Colorado Springs. Developing parks, model homes at 21,400-acre project. Banning Lewis Ranch could hold 75,000 homes, 180,000 people in next five decades.

Paid $55 million in 2001 for land. Spent tens of millions on improvements, entitlements since then.

Selling homes, lots at first two Banning Ranch neighborhoods, where more than 1,000 homes planned. Through March, more than 400 lots sold to homebuilders at average $60,000.

Not worried about launching long-range project now: “We are going to be here for a long time.”

Capital Pacific had yearly sales of about $700 million near peak of market. Sales

now about half that. Went private in 2006. Builds in California, Arizona, Colorado, Texas. More than 27,000 homes built since inception.

Makar owns hotels St. Regis in Dana Point, Hilton Anaheim, Wyndham Orange County in Costa Mesa. Planning Costa Mesa condos.

St. Regis in news last year for infamous guests,execs from beleaguered insurer AIG. Paul called news footage showing upscale resort good exposure.

Makar’s big project: 31-acre Pacific City in Huntington Beach. Estimated $750 million effort includes 200-room boutique W hotel, 191,000 square feet of shops, restaurants, offices, more than 500 condos. Delayed for now.

Bought Hilton Anaheim, OC’s largest hotel, in 2006 for estimated $160 million. Upgrades, renovations worth about $60 million completed this year.

Paul was Capital Pacific senior VP, now chief executive, owner of Makar.

New Majority member, founder, chairman of Generation Next, a nonprofit focused on economic, education, security, other issues. Single. Hobbies include helicopter-snowboarding, scuba diving, mountain biking, yoga, world travel.

Hadi remains key Republican fundraiser at state, national level. Big backer of Gov. Arnold Schwarzenegger. Alternative energy supporter.

In October, appointed by governor to University of California Board of Regents.

Grew up in Iran. Family owned largest construction, development company that built U.S. military bases, other big projects. Came here in 1960s to study civil engineering, economics at State University of New York, Buffalo.

Earned degree, got married, returned to Iran to family business. Fled to Florida with wife after Islamic revolution in late 1970s. Company nationalized.

Began building condos in Florida. When recession hit Florida in early 1980s, moved to Washington, D.C., area. Built high-rises along subway line in Maryland. Sold business when others started doing same thing.

Moved to California in 1990 at age 41. Enjoyed brief retirement at Big Canyon. In 1991, started Capital Pacific. Bought J.M. Peters in 1992 for $47 million, combined companies two years later.

2008 Horatio Alger Award recipient. Supporter of Chapman University, served on board. Also supports State University of New York.

Other son, Cyrus, 30, is technology VP at Makar. Wife, Barbara. Couple splits time between Big Canyon, Montecito.

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Mark Mueller


ANTHONY RICHARD MOISO


Chief executive, president

Rancho Mission Viejo LLC

Born in West Los Angeles,

Sept. 17, 1939

Lives in Laguna Beach (Emerald Bay)

Public face of county’s No. 2 landowner, overseen creation of masterplanned communities Mission Viejo, Rancho Santa Margar-ita, Las Flores, Ladera Ranch.

He, other family members mourning loss of Richard “Dick” O’Neill, Moiso’s uncle, family patriarch who died earlier this month.

Moiso heads all aspects of historic family ranch, with roots back to 1882. Oversees real estate development, leasing, cattle, farming.

Moiso-Avery-O’Neill family counts 127 years of family ownership of ranch that once covered 200,000 acres, stretching from foot of Saddleback Mountain to Oceanside (including all of what’s now Camp Pendleton).

Ranch now 23,000 acres in county’s southeastern corner.

Early work under way for next big project on county’s largest swath of developable land. Planning 14,000 homes, 5 million square feet of commercial development on quarter of land. Majority, 17,000 acres, set for open space.

Family to continue farming, ranching on land. Has 500 acres of citrus, barley, lemon, avocado, other crops, as well as 450 cows.

Company’s last major development was Ladera Ranch, 4,000-acre community near Mission Viejo.

Thinking about future. Family members could run operation or bring in managers overseen by family board.

Along with land, Moiso, family own shopping centers, golf courses, apartments, senior complexes, medical offices, other commercial buildings.

Holdings include San Juan Capistrano’s El Adobe restaurant, Los Swallows Inn, Mission Promenade.

Family is longtime supporter of Mission San Juan Capistrano. Moiso president of Mission Preservation Foundation.

Earned history degree (minor in political science) from Stanford, 1961.

Served two years in Army. Started Mission Viejo Co. with fellow OC 50er Donald Bren. Became Moiso-Avery-O’Neill clan’s top exec in 1967 after Bren left.

Philip Morris bought Mission Viejo Co. in 1972. Moiso revived family’s development as Rancho Mission Viejo in 1973.

In California Building Industry Foun-dation’s Hall of Fame. Benefactor, Heart of Jesus Retreat Center, Santa Ana.

Wife Melinda. Four daughters (Katrina, Cristy, Anne Marie, Francesca), 11 grandchildren.

Devoted family man, loyal to friends. Believes “handshake is your bond.”

Hosts annual Rancho Mission Viejo Rodeo (which has raised more than $700,000 for local charities). Also bikes, hikes, rides horses, plays golf.

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Mark Mueller



IGOR MICHAEL OLENICOFF


Owner, chief executive

Olen Properties Corp.

Born in Mazandaran, Iran

Sept. 20, 1942

Lives in Laguna Beach (Emerald Bay)

Thorn in side of Switzerland’s largest bank.

Billionaire real estate owner runs Olen Properties, likely OC’s biggest commercial landlord after Don Bren.

More than 6 million square feet of commercial real estate, about 10,000 apartments in California, Nevada, Florida. Wealth estimated at $1 billion-plus by Business Journal.

Much of portfolio local. Counts close to 2,000 tenants, 380 buildings locally. Holdings include low-rise offices, pair of office towers near airport, Olen Pointe campus in Brea.

Trophy property: Chicago’s One South Dearborn tower. Forty-story skyscraper bought in 2006 for reported $362 million.

Paid about $135 million in early 2005 for two 13-story office towers on Irvine’s Main Street. First big local high-rise office buy.

Owns 1,400 acres in Temecula, Nevada, Arizona, Florida. Plans condos, shopping centers, offices, hotels in South Florida, Phoenix, Las Vegas. Projects delayed during downturn.

Slowdown hitting home, too. Withdrew plans last year to build some 900 apartments around John Wayne Airport. Would have been Olen’s biggest housing development in county. In September, started 260 apartments at Olen Pointe in Brea.

Said to have low debt, shielding Olen from issues facing other developers.

Resolved long-running legal, tax dispute with government in 2008. Sentenced to two years probation, $52 million in penalties in plea deal. Says tax case “is what it is.”

Turning tables on UBS bankers he says gave him bad advice, turned him over to feds. Suing bank, others for $500 million, citing fraud, racketeering, other issues. Says plainly, “They’re crooks.”

Olenicoff’s case leading to revelations about UBS offshore accounts for American investors, added U.S. government scrutiny. Relishing spotlight. Would give any money from lawsuit to charity.

Has headquarters in distinctive building: huge, museum-like structure on Corporate Plaza near Fashion Island. Decorated with czarist-era sculptures, paintings.

Born in northern Iran, then under World War II Soviet occupation. Parents left Soviet Union for Iran after Russian Revolution, due to ties with Czar Nicholas II. Family went to Iranian mining town, then came to U.S. when Olenicoff was 15.

Worked way through USC where he graduated with four degrees,bachelor’s in finance and engineering, business master’s, master’s in statistics, quantitative analysis. Remains close to fraternity brothers.

Fluent in English, Russian, Farsi.

Worked for Shell, Touche Ross, Motown Records. Bean counter for Berry Gordy. Founding partner in real estate syndicator Gemini Pacific. VP of operations at Dunn Properties before starting Olen in 1973.

Weathered other downturns. One Olen-backed portfolio tied to some $140 million in loans filed for bankruptcy in early 1990s. Avoided giving back any properties, through hard work, tough negotiations.

Wife, Jeanne. Daughter Natalia a USC grad, Olen’s director of asset management. Playing larger role after untimely 2005 auto death of son, heir apparent, Andrei. Opening restaurant this year in late son’s memory.

Enjoys snow, water skiing, off-road motorcycle riding.

,

Mark Mueller


HENRY THOMAS SEGERSTROM


Managing partner

C.J. Segerstrom & Sons

Born in Orange County, April 5, 1923

Lives in Newport Beach

Turned Costa Mesa farmland into thriving business, arts district.

Public face of family developer, real estate manager, owner of South Coast Plaza, office buildings, land in, around Costa Mesa.

Driving force behind area’s shift from lima bean fields into economic power, county’s arts center. One of modern OC’s founding fathers.

Best known for ritzy South Coast Plaza, first U.S. shopping center to hit $1 billion in yearly sales.

Yearly revenue now about $1.5 billion at 2.8 million-square-foot mall. Said to have highest sales per square foot of any California mall. Coping with downturn. Holiday season sales were off 18% from year earlier. Center’s core group of luxury retailers seen holding up better than retail market at large.

Family part of group that owns, runs Costa Mesa office high-rises, including Plaza Tower, Center Tower, Park Tower. Plaza Tower, by architect C & #233;sar Pelli, considered among county’s premier buildings.

Segerstrom offices largely unscathed from meltdown hitting rest of county’s landlords. But downturn slowing development plans for towers, luxury condos, hotel. Opening two restaurants in office buildings.

Huge arts promoter. 2006 saw opening of $240 million Ren & #233;e and Henry Segerstrom Concert Hall, crown jewel of Performing Arts Center expansion.

Family business dates back to 1898. Grandfather C.J. Segerstrom was Swedish immigrant farmer. By 1950s, family was leading lima bean grower.

Raised during Great Depression. Enlisted in Army, rose from private to field artillery captain. Received Purple Heart in World War II.

Business bachelor’s, master’s from Stanford. Presented with 2008 Arbuckle Award by Stanford Graduate School of Business Alumni Association. Honorary doctorates of law from Western State, Whittier Law School.

Married to third wife, Elizabeth. Daughter, Andrea, sons Anton, Toren from first wife. Anton; son-in-law, David Grant, involved in business.

,

Mark Mueller


PETER OWEN SHEA JR.


Chief executive, president

J.F. Shea Co.

Born in Farmington, N.M., Feb. 17, 1967

Lives in Newport Beach


COLM WILLIAM MACKEN


Chief executive, president

Shea Properties

Born in Dublin, Ireland, May 21, 1958

Lives in Rolling Hills Estates


ROBERTO FRANCISCO SELVA


Chief executive, president

Shea Homes

Born in San Francisco, Jan. 2, 1962

Lives in Newport Coast

Trio heads up one of county’s most active homebuilders, commercial developers.

Turning Tustin’s big ex-military base into hub for business, shops, homes. Biding time until market shows recovery.

J.F. Shea’s homebuilding, commercial arms overseeing more than half of 1,500-acre redevelopment. One of lar-gest remaining developments in county, along with former El Toro Marine base.

Aliso Viejo-based Shea Properties work-ing with Walnut’s Shea Homes, city of Tustin on Legacy Park at former base.

At 820 acres, project calls for 2,100 homes, 6.7 million square feet of offices, restaurants, shops, hotels in next six, eight years. Fewer homes than Irvine’s Great Park, more commercial development.

Shea Properties expected to build offices, retail, restaurants, hotels first. Timetable in flux thanks to rocky market. Slower rollout expected in next few years than first planned.

Development price on Legacy Park pegged at $3 billion.

Biggest project in years for Shea family’s real estate empire, which includes homebuilding, apartments, offices, industrial, retail, land. J.F. Shea also has heavy construction business, financial services

division.

Peter Shea heading up operation of family company based just across county line in Walnut. Picked up chief executive, president titles five years ago; was chief operating officer. John Shea is chairman, mentor.

Personable, unassuming. Worked up company ranks. Got start as miner in Shea’s rock, gravel quarry in Redding.

Bachelor’s in civil engineering from UC Berkeley. Wife, Debbie, four children. Likes golf.

Macken oversees Shea Properties, commercial real estate developer, owner. Portfolio valued at more than $1.3 billion. Unit had $221 million in revenue in 2008.

Joined in 2006. Oversees 7,000 apartments, 5.5 million square feet of office, industrial, retail space in California, Arizona, Colorado. Headquarters at company’s Vantis development in Aliso Viejo.

Projects in works total more than 10 million square feet of commercial, retail space, 1,000 apartments. Opened 177-apartment complex near John Wayne airport last year.

Tustin: biggest project yet. Mid-rise offices planned in walking distance of homes, shops, hotels.

Macken previously served as president, COO of Forest City Enterprises’ West Coast Commercial Group. Developed $1 billion worth of projects in 11 years.

Degree in mechanical engineering, University College in Dublin. Business master’s from UCLA. Married to Lomena. Three teen kids. Likes sports, fitness.

Homebuilding arm, headed by Selva, one of most active in OC. Largest family-owned homebuilder in nation, annual revenue of more than $3 billion at peak of market.

No. 2 homebuilder in OC last year, with 235 sales. Building in Aliso Viejo, La Habra, Yorba Linda.

Doesn’t expect turnaround until late 2009, early 2010. Cut staff by more than half from peak.

Says Shea didn’t overextend as much as some others during boom. Believes homebuilder should be strong enough to move ahead with its portion of Legacy Park, once market turns.

Low-key, easy going, gets along well with Shea family. Joined in 1996. Worked way up.

Bachelor’s in business from University of Southern California, master’s from UCLA. Wife, Cindie, three children.

,

Mark Mueller

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