Mark Mueller covers commercial and residential real estate for the Orange County Business Journal. His beat also includes title insurers and mortgage lenders, as well as government stories that relate to real estate. He can be reached at firstname.lastname@example.org.
Phone: 949-833-8373 Extension: 226
REAL ESTATE: Builder sees SoCal land as key to raise stock
TRI Pointe Group Inc. has embraced a business-as-usual, California-first approach to its operations following its recent breakup with former majority stakeholder Starwood Capital Group Inc.
Pacific Hospitality Takes Over; Deal Signed in 2016
Irvine’s newest hotel, Park Place’s AC Hotel, has a per-room value topping some of the most established hotels in the area around John Wayne Airport, based on a reading of newly filed property records.
The new owners of the Main Plaza office buildings in Irvine are planning an extensive overhaul of their latest Orange County investment, even after spending nearly $200 million to buy the airport-area towers.
REAL ESTATE: Developer has 37.5% stake in Great Park land
FivePoint Communities Inc.’s transition into a publicly traded company will make its executive team rich and provide plenty of financial cover for the next housing downturn. It should also free up plenty of cash for future real estate acquisitions in and out of Orange County.
FivePoint Communities Inc. could raise nearly $600 million from its forthcoming initial public offering and a trio of concurrent private placement deals, according to new regulatory documents filed with the Securities and Exchange Commission.
FINANCE: Pickup family members boost stake with buy
Local real estate and private equity investors Richard and Todd Pickup have increased their already sizeable stakes in Impac Mortgage Holdings Inc. following a $56 million stock sale by the Irvine-based lender.
ITT Campus Along Dyer Could Get 9 Buildings
Big changes could be in the works for a large industrial property just off the Costa Mesa (55) Freeway in Santa Ana.
REAL ESTATE: Offices home to Hyundai, could get $200M
The 4000 MacArthur office complex in Newport Beach is for sale again in what could prove to be Orange County’s largest office transaction so far this year.
1.1M-SF Distribution Center Amid Biggest Here
CenterPoint Properties has closed on the buy of J.C. Penney Co.’s massive logistics and distribution facility in Buena Park in one of the largest industrial sales in Orange County in years.
REAL ESTATE: Ex-majority owner knocks plan on way out
An eight-year partnership between Irvine-based homebuilder TRI Pointe Group Inc. and its former majority shareholder ended on an unexpected sour note.
REAL ESTATE: Bedford project to hold 1,200+, 400 in 1st phase
The New Home Co. Inc., one of the most active builders on the Irvine Ranch and other area master-planned communities owned by Orange County’s largest landowners, is turning the tables for a new project it has in the works just over the Riverside County line in Corona.
Sold for $22M in 2010, Now About 82% Full
Mission Viejo’s Kaleidoscope shopping center is for sale.
REAL ESTATE: $58M for 19 buildings beside Broadcom
Irvine Company has bought a low-rise office campus in the shadow of Broadcom Ltd.’s new office campus in the Irvine Spectrum.
REAL ESTATE: Latest project planned for site next to mall
Hines Interests LP is the latest big office owner in Orange County looking to add apartment development to its local repertoire.
REAL ESTATE: Revero maker leased last year, but yet to move
Karma Automotive LLC is embracing a lease-to-own strategy, for its local real estate holdings, at least.
Volume Rises 8%; Lease Deals Down 3%
A brisk pace of building, apartment and land sales helped overcome some sluggish leasing activity in Orange County last year. The bottom line: another year of gains for the area’s largest commercial brokerages.
Top Firms’ Local Accounts Approach 200 Million SF
A dose of development helped Orange County’s largest commercial property managers grow their local portfolios for the fifth straight year.
REAL ESTATE: Villas at Tustin buyer’s largest here
Irvine-based apartment investor Bascom Group LLC has made its largest ever acquisition in Orange County, picking up a 406-unit rental complex in Santa Ana.
Some 1.5M SF of Big Blocks of Space Available
Three of the area’s biggest owners of high-end office space in Orange County, Irvine Company, LBA Realty, and Hines Interests LP—have proposed a handful of local office projects totaling close to 750,000 square feet for the area around John Wayne Airport and the Irvine Spectrum.
First Proposed in ’15, Deal Slowed by Choppy Market
Aliso Viejo-based Five Point Holdings Inc., the master developer of Great Park Neighborhoods in Irvine and other large projects in California, hasn’t abandoned its plans for an initial public offering, according to one of the company’s largest investors.
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.
MBK Homes LLC President and Chief Executive Timothy Kane has announced his retirement from the Irvine-based homebuilder.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Irvine-based CoreLogic named Frank Martell president and chief executive to succeed Anand Nallathambi, who died this month after a brief illness.
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.
Irvine-based CoreLogic has named Frank Martell its new president and chief executive.
CoreLogic President and Chief Executive Anand Nallathambi died after a brief illness, the company said.
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.
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.
CoreLogic President and Chief Executive Anand Nallathambi died after a brief illness, the company said.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.