OC 50: Real EstateSaturday, May 11, 2013
RECENT: Development, acquisitions driving company’s growth in OC and other California markets, particularly Silicon Valley. Newport Center seeing two new office towers, additions to Fashion Island shopping center. New apartments being built in OC and other markets; most recent apartment project is Los Olivos, opened this year in Irvine. Subsidiary Irvine Pacific OC’s most active homebuilder for three years running. New housing community Cypress Village opened this month. Also building, buying in Northern California. Recent local purchases include 5,000-unit apartment portfolio giving Irvine Co. presence in several new OC cities. Office buys in Pasadena, San Diego, Silicon Valley over past year. $875 million financing deal completed this month should free up more cash for acquisitions. Newport Coast development Pelican Hill retaining ranking as top resort in U.S. and No. 1 golf resort in world. Contributed more than 50,000 acres—more than half of 93,000-acre Irvine Ranch—as parks and open space.
PERSONAL: Bloomberg Businessweek puts lifetime giving at $1.3 billion, with UCI, UC Santa Barbara, Caltech University, Chapman University, local school districts and Santa Ana-based nonprofit Think Together on recipient list. Awarded president’s medal from University of California, another from UCI. Has endowed more UC distinguished faculty chairs than any other individual. Former Marine officer, he contributed academic chairs at Marine Corps University in Quantico, Va. Involvement with boards of UCI Foundation, Los Angeles County Museum of Art, OC Museum of Art, Caltech, among others. Member of American Academy of Arts and Scientists. Married to entertainment lawyer Brigitte Bren. Splits time between Newport Beach and Los Angeles.
EMILE K. HADDAD
Chief executive, president
FivePoint Communities Inc., Aliso Viejo
Born in Beirut, Lebanon
Lives in Laguna Hills (Nellie Gail)
WHY: In charge of developing homes, commercial space at Great Park Neighborhoods at former El Toro Marine base in Irvine.
HOW: Stepped down as Lennar Corp. chief in-vestment officer in 2009 to take top spot at Five-Point, new company in charge of developing some of Lennar’s largest holdings in California, including 3,700-acre El Toro project. Lennar owns majority of FivePoint. Haddad, also an investor, has final management say.
RECENT: Home sales at residential and commercial development planned around the Orange County Great Park beginning in September. Land sales for first 720 home lots, in the northwest corner of the former base, completed with eight builders in past month, likely raising close to $200 million. Development already moving ahead for second batch of Great Park homes. Between 500 and 1,000 to be built in second phase, starting next year. Spent 2012 negotiating with city over funding plans, scope of development on city-owned Great Park land.