Olen Properties had a strong enough year to vault owner Igor Olenicoff to the No. 2 spot on our 2012 OC’s Wealthiest list, the centerpiece of this week’s special edition (entries start on page 31; list starts on page 44; related stories throughout issue). But not everything went the billionaire’s way: A high-profile, $500 million suit he filed against Swiss bank UBS and others was thrown out in April. Olenicoff says he’s fine with the lawsuit’s outcome and notes he recovered some money from other defendants in the case and sent it along to charity. “Frankly, I am ready to forget it ever happened,” he recently wrote real estate reporter Mark Mueller. Olenicoff saw another turn last week, when his one-time UBS banker, Bradley Birkenfeld, was released from federal prison after serving a 30-month sentence for fraud-related charges. He said he wishes Birkenfeld luck “in whatever he plans to go into. It certainly will have to be something outside of banking and investment management” …
A few items on executive dining to go with the Wealthiest list …
Henry Schielein has retired, according to the Balboa Bay Club, where he was the longtime president and COO. A call to the club indicated GM Dieter Hissin has taken on Schielen’s duties. Schielen was a fixture of the place and appeared set to remain so when the shadowy Winston Chung struck a deal for the club last year. That deal fell through, and the club recently went to Richard Pickup’s Eagle Four Partners private equity firm and Pacific Hospitality Group LLC, an owner and manager of hotels led by Tim Busch …
The Ritz has gotten another extension on its Newport Center lease, according to Managing Partner Ray Jacobi. It now has until Feb. 28, 2014, to find a new location. The latest extension from the Irvine Company follows the six-months tacked on by the landlord a few months back that took the lease to the middle of next year …
Rikin Lakhani, managing partner of Seasons 52 in Costa Mesa, recently received the Joe R. Lee Diamond Club Award, top honors at the company …
The Anaheim GardenWalk shopping center, which opened in 2008 and went back to its lender last year, could be nearing a sale. Brokerage data shows the 440,000-square-foot property at 321 Katella—which sits across the street from a parking lot that Walt Disney Co. is rumored to looking to turn into a third theme park—is under contract. Details on a buyer aren’t being disclosed, but don’t be surprised to see hedge fund money involved in the mall, or perhaps any hotel development planned near the center. An LLC operating under the 321 Katella Associates name was recently set up, and shares an address used by Angelo Gordon & Co. …
Joe DeFranco isn’t on the Wealthiest list—but he just might merit one all his own as an OC classic and longtime businessman who has an Insider resume if there ever was one. DeFranco palled around Newport Harbor with John Wayne and Maureen O’Hara; he and wife, Barbara, double-dated with former Rams’ great Bob Waterfield and bombshell Jane Russell; and he has played golf both with Ben Hogan and Tiger Woods. Early best wishes to DeFranco, who turns 90 on Aug 26.
