REAL ESTATE

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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Ahmansons Back Housing Conference

Fieldstead and Co. in Irvine plans a daylong “What Would Howard Do?” discussion of home ownership at the University of Southern California on Aug. 1.

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Rimrock-Backed Company Files Chap. 11

Rimrock Capital Management LLC, an Irvine-based private equity group with $4 billion assets under management, is reorganizing LakePoint Land LLC., a 1,300-acre, Georgia complex famous for its sports facilities.

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McCarthy Names Myers Head of NB Office

McCarthy Building Cos. Inc., the largest commercial construction company in Orange County, named Mike Myers president of the firm’s Southern California region.

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