Hoag Memorial Hospital Presbyterian has been awarded ownership of the 92-acre Ziggurat facility in Laguna Niguel, wrestling it away from San Juan Capistrano-based Pintar Investment Co. and Signal Hill-based Hilco Development Services, the Business Journal has learned.
Hilco on Wednesday vowed to fight it, as the general contractor announced it would “challenge” the U.S. General Services Administration’s decision.
“Hilco Development Services is confident that, ultimately, the GSA will be held to its original determination – namely that Hilco is the winning bidder, and that a sale to Hilco is in the public interest,” Hilco attorney Todd Theodora said in a statement. “Hilco remains committed to maintaining a transparent and fair process as they’ve done throughout the entire auction.”
The GSA terminated its deal with Hilco – and its financial partner, Jeff Pintar – on March 10. GSA awarded the federal property to Hoag, which has desires to expand in South Orange County, after a legal challenge from Hoag. That federal lawsuit was dismissed, at the request of Hoag, on March 20.
Read more in the April 7 issue of the Business Journal.
