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Revenues Here Highest Since ’09, Backlog Down
Orange County’s largest commercial construction companies took in the most revenue since the Great Recession, although a shrinking backlog and ominous economic reports raise questions about the industry’s continued growth.
Dan Young plans to step down from his executive position at Newport Beach-based Irvine Company at the end of the month.
REAL ESTATE: Some $1.3B worth of deals in pipeline amid rising rents
The five-building Irvine office campus that holds the local operations of Google Inc. and others is up for sale, headlining an Orange County office investment market that’s seeing its heaviest activity in over eight years.
REAL ESTATE: 12 of 55 luxe homes sold ahead of opening
Hefty price tags don’t appear to be stifling interest in the last big housing community slated for the Newport Coast community of Crystal Cove.
TECHNOLOGY: Software team will head to Silicon Valley
Oculus VR Inc., a trailblazer that put Orange County on the virtual reality map, has moved the last remnants of its local operation to Silicon Valley.
$110M Apartment Deal Tops for Nashville Region
An affiliate of Irvine-based Steadfast Cos. has bought a big apartment complex in the suburbs of Nashville, Tenn., in what local news reports say is the priciest multifamily deal the area has ever seen.
The Baltimore hotel Montage Hotels & Resorts will run under its Pendry brand has been named Sagamore Pendry Baltimore.
San Clemente-based CareTrust REIT Inc. said today it bought four senior housing properties in Michigan.
Irvine-based Opus Bank has received the International Interior Design Association’s 2016 Calibre Design award in the small workspace category.
Bennett Washabaugh and Mike Zei launched their commercial real estate startup, TenantBase, with Irvine Company in mind as an innovator that leases space to startups around the country.
REAL ESTATE: $1B CMBS offering could precede some big property buys
A new billion-dollar funding deal involving a portion of Irvine Company’s apartment portfolio raises the prospect that Orange County’s dominant real estate company could soon be on the lookout for acquisitions.
REAL ESTATE: $300M spree follows bond deal in Israel
A real estate investment trust run by Newport Beach-based KBS Realty Advisors, fresh off a $250 million bond offering in Israel, has made plans to spend nearly $300 million on an office property in downtown San Francisco and a portfolio of business parks in the Seattle suburbs.
Pacific Hospitality Walks Line Between Resorts and Chains
This week’s opening of Paséa Hotel & Spa in Huntington Beach marks the seventh high-end property out of 10 in owner-operator Pacific Hospitality Group’s stable.
Will Be Interviewed By Another Company Veteran
David Pyott, retired chief executive and chairman of Allergan Inc., now Allergan PLC, will be the headliner next month at the annual Ophthalmology Technology Summit put on by OCTANe, an Aliso Viejo-based booster group for life sciences and other forms of technology.