REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...

Chipotle’s Landing Spot: 2 Newport Center Floors

RESTAURANTS: Site prepped for 125 staffers at startChipotle Mexican Grill Inc. is poised to become Newport Beach’s most valuable public company immediately following its move here from Denver this year.

Unemployment Rises to 3.3%

Orange County’s unadjusted unemployment rate rose to 3.3% in June, up from a revised 2.6% in May and down from 3.7% a year ago, according to the state’s Employment Development Department.

NJ Pendry Preps $1M Homes

A Pendry Hotel planned for a 2020 opening in Somerseet County, New Jersey, will include 24, for-sale residences on land once fit for a king.

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$180M in Galaxy’s Edge Construction Phase

A series of six construction permits for projects with a combined value of $180 million pulled over the last 30 days in Anaheim suggest the home stretch for elements of Star Wars: Galaxy’s Edge, the new “land” expected to open next summer at Disneyland Resort.

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Americor to Open 250-employee Center

Americor Inc., an Irvine-based consumer debt company, said it will be opening a new center with 250 employees.

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Samueli Academy Gets $900K

The Santa Ana-based Orangewood Foundation won a $900,000 grant from the Federal Home Loan Bank of San Francisco’s Affordable Housing Program that will help fund the nonprofit’s Samueli Academy expansion.

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Broughton to Run Hotels for U.K. Partner

Anaheim-based Broughton Hospitality Group’s hotel management division will “develop, acquire, and manage” properties in North America with Warrington, U.K.-based Bespoke Hotels, a press release said.

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Wells Fargo to Shut 2 Irvine Auto Offices

Wells Fargo & Co. is closing two auto financing offices in the Irvine Spectrum, resulting in 67 employees to date leaving the firm.

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Ahmansons Back Housing Conference

Fieldstead and Co. in Irvine plans a daylong “What Would Howard Do?” discussion of home ownership at the University of Southern California on Aug. 1.

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Rimrock-Backed Company Files Chap. 11

Rimrock Capital Management LLC, an Irvine-based private equity group with $4 billion assets under management, is reorganizing LakePoint Land LLC., a 1,300-acre, Georgia complex famous for its sports facilities.

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McCarthy Names Myers Head of NB Office

McCarthy Building Cos. Inc., the largest commercial construction company in Orange County, named Mike Myers president of the firm’s Southern California region.

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Real Estate Exec Stan Ross Dies at 82

Stan Ross, who had a major influence on Southern California’s real estate industry through his accounting and finance work, died at age 82 on Sunday from complications of a stroke.

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Montage Los Cabos Open

Montage International’s Los Cabos resort is ready for its close-up.

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PHG’s Kramer Departs; Hotel Runner Gets VP

Pacific Hospitality Group Chief Investment Officer Kory Kramer left the Irvine-based hotel owner-operator to start a hospitality venture. He’s now a consultant with PHG, which named a new vice president of investments to take on some of his former responsibilities.

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Sabra Sells 12 Facilities for $134M

Irvine-based Sabra Health Care REIT Inc. (Nasdaq: SBRA) completed the previously announced sale of 12 facilities leased to Genesis Healthcare Inc. (NYSE: GEN) for $134 million.

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Auction.com Names CTO

Irvine-based online distressed real estate auction company Auction.com promoted Amit Aggarwal to chief technology officer on Monday.

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