Orange County Business Journal

REAL ESTATE

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

CoreLogic Inc. paid Wells Fargo Bank N.A. $65 million for the 49.9% of RELS LLC it didn’t yet own.

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Anaheim Buyer for $12M SD Hotel

Anaheim-based Fortune Hospitality LLC has acquired the 78-room Best Western Plus hotel in La Mesa for $12.4 million, according to CoStar Group and brokerage company Atlas Hospitality Group.

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Disney Area Hotel Seeks 180 Rooms

Owners of the 86-room Park Vue Inn envision more rooms and smaller restaurants as part of a redevelopment, according to documents filed this month with the city of Anaheim.

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REIT Buys Again in Colorado

Steadfast Apartment REIT, an affiliate of Irvine-based Steadfast Cos., has acquired a 222-unit apartment complex in Colorado for $44.2 million.

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Mall Manager Changes With Sale

Westfield MainPlace in Santa Ana will get new management as Sydney-based Westfield Corp. sold a majority stake in the mall to a partnership that includes USAA Real Estate Co. in San Antonio, Texas, Dallas-based Centennial Real Estate Co. and Montgomery Street Partners LLC in San Francisco.

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Sunstone Sheds NY Hotel for $540M

Aliso Viejo-based hotel investor and operator Sunstone Hotel Investors Inc. said that it has sold its leasehold interest in New York City’s Doubletree Guest Suites Times Square for $540 million.

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CoreLogic to Pay $475M for Appraisal Tech Co.

CoreLogic Inc. will buy FNC Inc. for $475 million.

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Supervisors Award $102M Airport Contract

The Orange County Board of Supervisors awarded a $101.8 million contract to Swinerton Builders in Irvine for upgrades at John Wayne Airport.

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NB Investor Buys Resort in Desert Hot Springs

Newport Beach-based CCL Holdings, led by hotel investor David Chang, bought the Two Bunch Palms Resort & Spa in Desert Hot Springs.

Hip Is Hot: Costa Mesa Retail Center Draws $120M Investment

REAL ESTATE: LA firm buys into Burnham-Ward project off 405

SOCO—the hip mix of furniture, fashion, design and food tenants along the San Diego (405) Freeway in Costa Mesa—has gotten a new ownership structure and a big boost in its valuation.

Olen’s Spree: 3 Deals, 3 States, 1,000 Apartments

REAL ESTATE: Portfolio now tops 12,000 residential units

Olen Properties Corp. has spent nearly $200 million to buy three out-of-state apartment complexes this month, adding to a busy year of acquisitions for the Newport Beach-based real estate owner and developer.

IBC Apartment Sale Points to New Benchmark

REAL ESTATE: Estimate on per-unit price tops $400,000

A recently built apartment complex has traded hands in what looks to be one of the priciest per-unit deals for a multifamily property in the Irvine Business Complex.

Coastal Lux Home Sales Average 96% of Listing Price

Some Areas Even Higher— Cameo Shores at 98%

One thing appears to remain consistent in Orange County’s dynamic luxury market: Buyers are willing to pay top dollar for the expansive homes and unique estates prevalent in the communities along the coast.

Irvine Developer Gets $23 Million for Anaheim Hotel

Five-Story, 110,000-SF Project Set to Open in ’16

One of the developers planning a hotel for Anaheim’s resort area has gotten a construction loan to get the project under way.

Mobilitie's Move

$325M in Funding, Hiring Spree Point to National Network of Small Cell Base Stations

A just-completed $325 million fundraising deal for Mobilitie LLC comes as the Newport Beach-based wireless infrastructure company is gearing up for what it is calling the “largest network deployment initiative in the U.S.”