Orange County Business Journal

REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...

Huntington Beach Luxe Rentals Sell For Top Dollar

REAL ESTATE: New complex moves for estimated $131 millionA newly built apartment complex in Huntington Beach has a new owner in a deal that appears to set a high-water mark for pricing in Orange County’s hot multifamily market.

By Mark Mueller August 15, 2016 midnight   $$ Share
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LoanDepot Gets $150 Million

Irvine-based loanDepot.com LLC has received $150 million in term debt financing.

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LAB Holding In $7M Long Beach Land Buy

Shaheen Sadeghi of Costa Mesa-based LAB Holding LLC got the green light from the Long Beach City Council to turn city-owned property in the north part of the town into a “small-business friendly” retail center.

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OC Hotel Sales Up, Prices Down

The number of hotels sold in the first half of 2016 increased 27% but total dollar value of those sales fell 83%, a report by Atlas Hospitality Group said.

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REIT in First of Three Development Deals

CareTrust REIT Inc. in San Clemente invested $2.2 million in a company that’s developing a new healthcare facility CareTrust plans to own.

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Target to Open Concept Store Near UCI

Minneapolis-based Target Corp. selected Irvine Company’s University Center near University of California-Irvine as one of four college campus locations where it will open a “flexible-format” store. It will be the first such store in Orange County.

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Irvine Gets Google Fiber

Irvine will become the latest U.S. market to feature Google Inc.’s new super-speedy Internet service for businesses and residents—with a caveat: The Mountain View-based tech giant initially is rolling out the service only to select Irvine Co. properties, the companies said today.

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Irvine Fin-tech Firm Gets $7.5M

Internet-based mortgage lender cloudvirga Inc. in Irvine raised $7.5 million in Series A funding, led by Calabasas-based Dallas Capital. Santa Monica venture capital firm Upfront Ventures and angel investment club Tribeca Angels in New York participated in the round.

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TIAA Takes Pacific City Stake

Huntington Beach’s Pacific City shopping center has seen a change in ownership.

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Chicago Architecture Firm to OC

Oculus Architecture LTD has moved its headquarters to Costa Mesa from the Chicago suburb of Hickory Hills.

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Anaheim Tax Break to Luxe Hotels

Walt Disney Co. in Burbank and affiliates of Hong Kong-based Wincome Group will divvy up $560 million in tax money to be reimbursed over 20 years for building three luxury hotels in Anaheim.

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Cannabis Science to Irvine

Cannabis Science Inc. moved its corporate headquarters to Irvine from Colorado Springs, Colo.

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Concert Golf Buys Wichita Club

Concert Golf Partners in Newport Beach bought Crestview Country Club in Wichita, Kan., on undisclosed terms.

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China-Based Hotel Buyer in GG Resort Deal

SCG America has been named to develop the Grove District Hotel Resort Development, a stalled 5-acre resort with up to 769 rooms and 39,000 square feet of meeting space in Garden Grove, a press release said.

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Knott’s Eyes Land for Parking

Knott’s Berry Farm in Buena Park plans to buy 1.1 acres for $250,000 as part of a $5 million expansion of its Soak City water park by May 2017.

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PHG in Deals for AC Irvine, Tempe

An affiliate of Irvine’s Pacific Hospitality Group is in deals for two AC Hotels—a 176-room property currently under construction at the Park Place mixed-use campus near John Wayne Airport and a recently opened location in Tempe, Ariz.—from Woodbine Development Corp. and USAA.