REAL ESTATE

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

Monarch Beach Resort Loan Pegs Value at $466M

REAL ESTATE: $1.2 million per-room appraisal at high markThe up-and-down valuation of the swanky Monarch Beach Resort in Dana Point over its 17-year history has apparently hit a new high, based on documents related to a new loan for the 400-room resort.

Disney Suspends Hotel Project

Walt Disney Co. has stopped work on its fourth hotel near Disneyland Resort in Anaheim, the company said.

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NAMM, NAPEW Re-Up in Anaheim

Visit Anaheim said OC's two largest tradeshows by attendance—National Association of Music Merchants and Natural Products Expo West—have booked their slots at Anaheim Convention Center through 2023 and 2022, respectively.

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Montage Top-20 Global Brand

Irvine-based Montage International’s luxe resort unit, Montage Hotels & Resorts, is the 14th-best resort brand in the world, according to readers of Travel & Leisure magazine.

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Hotel Sales Down 50% YTD

Eight hotels with 955 rooms sold in Orange County through the first six months of the year, compared to 16 hotels with 1,803 rooms, year-over-year, according to Atlas Hospitality Group in Irvine.

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PHG Names CFO

Pacific Hospitality Group named Melanie Bucci chief financial officer;. She was most recently vice president of finance at Montage International for about eight years; both are hotel management companies based in Irvine.

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Din Tai Fung Expands

Popular Taiwanese restaurant chain Din Tai Fung is expanding its only Orange County location, at South Coast Plaza shopping center in Costa Mesa.

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Bixby Land Creates UCI Endowment

Real estate firm Bixby Land Co. in Newport Beach has given $100,000 to the University of California-Irvine’s Paul Merage School of Business to create an endowment fund at the Center for Real Estate.

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OC Hotel Development Steady; More to Come

Three new Orange County hotels with 445 rooms opened in the first half of 2018, according to data from Irvine hotel broker-consultant Atlas Hospitality Group.

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Unemployment Rises to 3.3%

Orange County’s unadjusted unemployment rate rose to 3.3% in June, up from a revised 2.6% in May and down from 3.7% a year ago, according to the state’s Employment Development Department.

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NJ Pendry Preps $1M Homes

A Pendry Hotel planned for a 2020 opening in Somerseet County, New Jersey, will include 24, for-sale residences on land once fit for a king.

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$180M in Galaxy’s Edge Construction Phase

A series of six construction permits for projects with a combined value of $180 million pulled over the last 30 days in Anaheim suggest the home stretch for elements of Star Wars: Galaxy’s Edge, the new “land” expected to open next summer at Disneyland Resort.

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Americor to Open 250-employee Center

Americor Inc., an Irvine-based consumer debt company, said it will be opening a new center with 250 employees.

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Samueli Academy Gets $900K

The Santa Ana-based Orangewood Foundation won a $900,000 grant from the Federal Home Loan Bank of San Francisco’s Affordable Housing Program that will help fund the nonprofit’s Samueli Academy expansion.

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Broughton to Run Hotels for U.K. Partner

Anaheim-based Broughton Hospitality Group’s hotel management division will “develop, acquire, and manage” properties in North America with Warrington, U.K.-based Bespoke Hotels, a press release said.

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Wells Fargo to Shut 2 Irvine Auto Offices

Wells Fargo & Co. is closing two auto financing offices in the Irvine Spectrum, resulting in 67 employees to date leaving the firm.

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