Bosa Development Corp. said Thursday it has paid $40 million for more land at Park Place in Irvine, with an eye to building additional condominium high-rise towers.
The Vancouver, British Columbia-based developer bought land entitled for 566 condos, according to seller Los Angeles-based Maguire Properties Inc.
Nat Bosa, who heads the company, previously said he plans four more towers at the 105-acre office and retail campus at the corner of Michelson Drive and Jamboree Road.
His company is nearing completion on twin 18-story high rises at Park Place.
Maguire Properties still holds land entitled for 850 condos or apartments at Park Place. The company said it plans to sell the land or develop it with a partner next year.
