Orange County Business Journal


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

Steadfast a Record Maker with Music City Purchase

$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.

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Montage’s Pendry in Baltimore Named

The Baltimore hotel Montage Hotels & Resorts will run under its Pendry brand has been named Sagamore Pendry Baltimore.

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CareTrust Buys in Michigan

San Clemente-based CareTrust REIT Inc. said today it bought four senior housing properties in Michigan.

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Opus Bank Wins Design Award

Irvine-based Opus Bank has received the International Interior Design Association’s 2016 Calibre Design award in the small workspace category.

Irvine Co. Provides Free Space to Incubator - Which Provides Free Space to Startups

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.

Deal Signal of Irvine Co. Shopping Spree?

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.

KBS Lands SF Tower, Redmond Business Parks

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.

HB Luxury Hotel Adds to Developer’s High-End Tilt

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.

Pyott Slated to Return to Spotlight at Eye Conference

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.

Momentum Continues in Mid-Counties Market

New businesses continued to migrate to the Mid-Counties industrial market at the border of Los Angeles and Orange counties in the first quarter as existing businesses expanded, resulting in 256,044 square feet of positive net absorption.

Newport Sports Museum Office Sells for Top Price

Museum Closed in 2014, Sells for Nearly $1,500/SF

An office near Fashion Island shopping center that previously held the Newport Sports Museum has sold for what looks to be one of the highest recent prices for an office deal in Orange County per square foot.

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Apex Parks Buys in NY

Apex Parks Group LLC in Aliso Viejo bought Martin’s Fantasy Island theme park in Grand Island, N.Y., on undisclosed terms.

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HCP Spinning Off Skilled Nursing, Assisted Living

Irvine-based HCP Inc. will spin off its HCR ManorCare skilled nursing and assisted living businesses into a separate, publicly traded real estate investment trust.

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Santa Ana Lender Names CFO

Santa Ana-based Stearns Lending LLC named Steve Smith chief financial officer.

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FivePoint Completes Restructuring

Aliso Viejo-based FivePoint Communities Inc. completed a reorganization that gives it ownership of four of California’s largest master-planned communities, including Irvine’s Great Park Neighborhoods.