REAL ESTATE

Irvine Co.'s Wirta to Retire

Ray Wirta is retiring as President of Newport Beach’s Irvine Co., ending a nine-year run at Orange County’s dominant real estate company.

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Hines’ OC Head To Run Asia Office, HQ

Commercial real estate development and investment giant Hines plans to ramp up its work in Asia, and has tapped the head of the firm’s busy Orange County office to lead the charge.

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Field Goals

Execs enjoy soccer’s competition and camaraderie—and learn key business lessons

You don’t need much to play soccer—a ball, a flat patch of land and anything to serve as goal posts.

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Mechanics Bank Buys Rabobank for $2.1 Billion

Mechanics Bank, whose Chief Executive John DeCero splits half of his time in its Irvine office, purchased Rabobank N.A. for $2.1 billion.

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Marriott Wraps $32M Redo

Anaheim Marriott has concluded a two-year, $32 million hotel renovation.

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$218M Land Deal in Irvine

Five Point Holdings, LLC (NYSE: FPH) has sold an additional 41 acres of land at its Great Park Neighborhoods development in Irvine for about $218 million, the company announced Wednesday as part of its fourth quarter earnings report.

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Disney Sets Galaxy’s Edge Opening

Disneyland Resort in Anaheim will open its Star Wars: Galaxy’s Edge attraction in two phases, starting May 31.

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Tri Pointe Forecasts Fewer Homes

Irvine-based homebuilder Tri Pointe Group Inc. (NYSE: TPH) reported a 34% jump in net income during the fourth quarter while forecasting a decline in both new homes and their average selling prices this year.

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Sundt, Cypress, Begin $80M ‘SEM’ Building

Irvine-based Sundt Construction broke ground on an $80 million project at Cypress College.

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Sunstone Quarterly Revenue Up

Aliso Viejo-based hotel REIT Sunstone Hotel Investors Inc. (NYSE: SHO) reported better-than-expected fourth-quarter results Tuesday, with revenue increasing 3.2% to $280.9 million in the period.

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WeWork Signs Big Lease Near JWA

Coworking firm WeWork has inked a lease for its second large location in Irvine close to John Wayne Airport.

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Real Estate Data Firm Bought

Irvine’s ATTOM Data Solutions has been acquired by Lovell Minnick Partners, a Philadelphia-based private equity firm, on undisclosed terms.

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OC Hotel Property Sales Down 30%

The number of hotels sold last year in Orange County declined 30% to 16 with a cumulative value of $343 million, according to a report by Atlas Hospitality Group in Irvine.

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Pendry Aims for L.A. 2020

A long-rumored L.A. location for Irvine-based Montage International’s lifestyle Pendry Hotels division could open as early as next year on the Sunset Strip, at the former site of a House of Blues.

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PCH’s Moshayedi Mile

Mo Honarkar made headlines last week for a string of property buys along the coast of Laguna Beach.

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