Orange County Business Journal

Starwood’s $150M Bet on TRI Pointe Pays Off Again

REAL ESTATE: Stock sale follows years of growth, IPO

A $150 million investment in then-upstart builder TRI Pointe Group Inc. in 2010 has proven to be a big money-maker for Greenwich, Conn.-based private equity firm Starwood Capital Group.

IRWD Plans Midsized Office Near Sand Canyon HQ

REAL ESTATE: Wants tenant before starting 71,000 SF office

The worst of a long drought is apparently over, and the Irvine Ranch Water District should now have more time on its hands to pursue other business opportunities, in particular real estate development.

Chicago Firm Tapped To Buy J.C. Penney DC

REAL ESTATE: Buena Park facility one of OC’s largest

A Chicago-area industrial real estate owner and developer looking to grow its West Coast presence is expected to buy J.C. Penney Co.’s massive logistics and distribution facility in Buena Park.

Blizzard Adds Another Spectrum Office to Local Ops

Lease Follows Abandoned Office Buy Near Its HQ

Blizzard Entertainment Inc. still is in growth mode when it comes to its local real estate presence. It appears it’s also still very much a renter rather than an owner.

New Vantis Hotel in Aliso Viejo Sells for $38 Million

REAL ESTATE: Texas investor gets Homewood Suites

A recently built Homewood Suites hotel in Aliso Viejo has become the first acquisition here by a Texas-based investor that specializes in the hospitality market and is on the lookout for more deals this year.

LBA Plans 6-Story Office Addition at Park Place

Building Would Overlook 405, Total 184,000 SF

LBA Realty has begun to market space for lease at a new six-story office it’s planning at the Park Place campus in Irvine, adding another potential sizeable office development to the area around John Wayne Airport.

Coins to Commercial Real Estate

Teenage Hobby Eventually Topped Banking, Led to 5-Million-SF Portfolio

John Saunders has made a fortune through buying and selling some of the smallest and most valuable collectables in the world.

Life After Broadcom at URP

Irvine Company Lands Toshiba to Start New Phase for 11 Buildings, 836,000 SF

Irvine Company has started to prepare for life after Broadcom Ltd., one tenant at a time.

Plans Weighed for Trinity Broadcasting Site

REAL ESTATE: First deal in OC for Pasadena venture

It was the second sale of the building this month. Irvine-based Greenlaw Partners bought it directly from Trinity Broadcasting, and shortly after the deal closed, Greenlaw sold it for a slight profit to Alliance South Coast.

CoreLogic Promotes COO to CEO Post

Irvine-based CoreLogic named Frank Martell president and chief executive to succeed Anand Nallathambi, who died this month after a brief illness.

Offices Now Investments for Area’s Ultra-Wealthy

Top Deals of ’16 Led By Handful of Rich Buyers

High-net-worth investors in some areas of the country are known for collecting an assortment of fancy cars, jewelry, mansions and other luxury items.

IBC Apartment Development Cuts into Jobs Base

Employment Down About 13.5% From 2006 Levels

The boom in residential development in the Irvine Business Complex over the past few years appears to be having an effect on the area’s base of jobs.

Title Insurers Seek More Buys in Face of Rate Hikes

Brokerage Business, Data Firms on Shopping List

Orange County’s largest title insurance providers are looking at acquisitions both inside and outside their core business lines to help them grow operations and improve efficiencies in a climate of interest rate hikes likely to cut into their refinancing work.

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CoreLogic Names Martell CEO

Irvine-based CoreLogic has named Frank Martell its new president and chief executive.

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CoreLogic’s Nallathambi Dies

CoreLogic President and Chief Executive Anand Nallathambi died after a brief illness, the company said.

Homebuilders Take Stock of Improved Inland Empire

More Projects Likely to Start As Sales Pick Up

Orange County’s biggest homebuilders are again turning more of their attention to projects in the Inland Empire.

Invesco Pays $112M for Fullerton Apartments, Dell Inc. Office in AV

Dallas-based Invesco Real Estate, one of the most active institutional investors in Orange County in the past few years, has added a newly built apartment complex in Fullerton and another office in Aliso Viejo to its local portfolio.

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CoreLogic’s Nallathambi Dies

CoreLogic President and Chief Executive Anand Nallathambi died after a brief illness, the company said.

New-Home Sales Surge to Levels Not Seen Since ‘03

Large Projects Feed 31% Sales Growth

Close to $4 billion was spent on new homes in Orange County last year as builders here posted their best sales year since 2003, thanks to new projects going up at the area’s largest master-planned communities.

Top Service, Top Prices at OC’s Latest Luxe Rentals

Irvine Co., Shea Put on The Ritz for Latest Projects

Orange County’s newest batch of luxury apartment communities, which command some of the highest rents ever seen among complexes here, aren’t for renters short on cash.

One More Mariners Mile Office for Moshayedi Clan

Latest Pushes Area Buys Above $130 Million

The biggest property owners in the Mariners Mile area of Newport Beach have added another building to their holdings.

Lake Forest Homebuilding Steps Out of Shadows

Ongoing Projects, Pipeline Add Slew of New Homes

Lake Forest, despite being in the shadow of California’s two best-selling master-planned communities, has been holding its own during the latest residential building boom.

IE Cement Magnate Eyes Santa Ana Rentals

A 601-unit apartment project has been proposed for a roughly six-acre site next to the Santa Ana Zoo that sold last year to a wealthy businessman from the Inland Empire.

Credit Union Eyes Tustin for New HQ

SchoolsFirst Would Likely Be City’s Biggest Employer With 185,000-SF Development

SchoolsFirst Federal Credit Union, the largest credit union in California, is eyeing a site in Tustin to build a sizeable new headquarters facility.

Pendulum Property Pays $41.6M for Office in Irvine

REAL ESTATE: Initial buy for firm headed by ex-Lincoln exec

A real estate investment, management and development firm that started operations last year has made an office in Irvine near The Market Place shopping center its first investment.

Olen Eyes Buys After Big Re-Fis

Newport Beach-based Olen Properties Corp. has closed on a big loan for its largest local property—a mixed-use development it owns in Brea—and is close to putting some of the proceeds from that and other recent financing deals into an apartment complex it plans to buy outside Orange County.

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Gen. William Lyon Steps Down from Homebuilder's Board

Newport Beach-based homebuilder William Lyon Homes said that its namesake and founder, General William Lyon, has stepped down as a director of the company.

Pacific Hospitality Lists Bacara Resort & Spa for Sale

Paid $185M in ’13; Could Sell for About $250M

Irvine-based Pacific Hospitality Group should make a big profit off the planned sale of one of its high-end properties.

2 Buildings in Airport Area Pegged at $200M+

REAL ESTATE: Emmes Group close to re-entering office market

New York-based Emmes Group of Cos. has been selected to buy the Main Plaza office buildings near John Wayne Airport in what looks to be the first big local office transaction of the year, real estate sources tell the Business Journal.

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CoreLogic CEO Takes Temporary Leave

Irvine-based CoreLogic Inc. said that Chief Executive and President Anand Nallathambi is taking a temporary medical leave of absence from the company.

Deal Puts Top Tenant Reps Under Same Roof

REAL ESTATE: Cresa OC will shift to Savills Studley brand

Orange County’s two largest commercial real estate brokerages that focus on representing tenants have joined forces.

Panattoni Adds 2nd North OC Site to Industrial Pipeline

REAL ESTATE: 10-acre former farmland fetches $17.7 million

The developer of Orange County’s largest industrial project over the past decade has bought another site along the Anaheim-Placentia city line for what’s planned to be a multibuilding industrial project.

Raintree Adds 2nd Irvine Company Rental to Portfolio

Pays About $43.6M For Tustin’s El Paseo Rentals

Raintree Partners, a Laguna Niguel-based apartment and mixed-use property owner and developer, has added another big rental property in Tustin to its portfolio, thanks to a recent transaction it made with Irvine Company.

Irvine Co. Eyes Affordable Rentals

REAL ESTATE: Past Traveland site could hold 1,710 units

Irvine Company is looking to turn the former Traveland USA site on the edge of the Irvine Spectrum area into an apartment development with up to 1,710 units in a project targeting middle-income earners.

Liquidmetal Near Deal for Lake Forest Headquarters

Under Contract to Buy Facility for $7.8 Million

Rancho Santa Margarita-based Liquidmetal Technologies Inc., a maker of alloys used in medical devices and consumer electronics, is under contract to buy a larger facility in Lake Forest.

Alphaeon Plans to Give Back HQ Space

REAL ESTATE: Shrinkage continues, Lensar to lender

Alphaeon Corp. plans to switch out its glitzy headquarters in Irvine this year for a much smaller location in the area in the latest sign of shrinkage for the lifestyle healthcare company.

Segerstrom Scion's 'Shelby Shrine'

Classic Cars Could Anchor Event Center, Museum

Ted Segerstrom calls his vintage car collection a “Shelby Shrine.”

Everything Accounted For

Tapped for CFO in 2009; Led IPO, Refis and Buys

Good luck finding a local chief financial officer who’s been part of as many complex transactions—including a corporate restructuring, initial public offering, acquisition push, and a string of big-dollar financing deals—as Colin Severn has during his seven-year tenure at William Lyon Homes.

New Brea Industrial Site Lands Car Parts Wholesaler

REAL ESTATE: 240,000-SF lease fills project on Imperial

An importer and distributor of automotive parts with headquarters in the Bay Area is moving its Southern California regional distribution center from Torrance to a newly built facility in Brea.

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Stowell to Chair Housing Charity

HomeAid America, a Newport Beach-based building industry charity, said CalAtlantic Group Inc. executive chairman Scott Stowell will lead its Board of Directors as Chairman for the next two years.

Sources Say Deal for Fairmont Close

HOSPITALITY: Group that got Irvine Hilton expected buyer

An investment group that recently bought the Hilton Irvine/Orange County Airport hotel on behalf of clients in China is close to making another big hotel purchase near the airport, according to hospitality industry sources.

Taylor-Dunn’s Anaheim Manufacturing Site Sold

REAL ESTATE: Deal follows sale of cart maker to Polaris

S&A Management LLC, one of Orange County’s largest privately held property owners, has added another notable investment in Anaheim to its portfolio.

Irvine Company Eyes For-Sale Homes in Silicon Valley

Plans Submitted for Tech Firm’s Sunnyvale Campus

Broadcom Ltd.’s current office campus at University Research Park in Irvine isn’t the only big Irvine Company-owned site in line for a revamp after being vacated by a semiconductor industry company.

Developers’ Residential Plans Getting Malled

REAL ESTATE: Apartments next to MainPlace latest example here

The new owners of an office building next to MainPlace Mall in Santa Ana have proposed building a 247-unit apartment complex on excess land at their property.

Electrical Contractor In on Anaheim Spec

REAL ESTATE: Rosendin to lease 144,000-SF regional headquarters

The development team planning a sizeable industrial and office facility near the Platinum Triangle has found a tenant for the speculative project just a little more than a month after buying the Anaheim site.

Rare For-Sale Housing Site in IBC Sells for $17.5M

REAL ESTATE: Builder plans 71 townhomes near JWA

One of the few infill residential development sites in the Irvine Business Complex that’s slated for for-sale homes has been sold to a Seattle-based builder.

Wen Adds LoanDepot HQ to Paper Trail

REAL ESTATE: $40M complex joins Sakura, Villa de Formosa

The Foothill Ranch office complex that holds the headquarters of mortgage lender LoanDepot Inc. is the latest notable area commercial property to be bought by a wealthy local investor.

Fashion Island Luxe Units Come With Record Rents

524-Unit Irvine Co. Site Beginning to Lease Up

Irvine Company is taking the wraps off its latest rental community, a Newport Center complex with some of the highest rents of any large apartment project in Orange County.

Aliso Viejo Grows Up, Moves on to Next Act

Office Market Matures, Pipeline Gives Way to Infill Plans

Orange County’s newest city isn’t so new anymore, least of all its office market.

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Building Materials Firm Files for IPO

Foundation Building Materials Inc., a Tustin-based distributor of wallboard and suspended ceiling systems, among other items, has filed for an initial public offering.

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