OC’s Wealthiest 2023: Igor Olenicoff



REAL ESTATE: A portfolio that counts over 8 million square feet of office and flex space—largely low-rise space, a product type that’s held up better than others in value the past two years. Also owns more than 17,000 rental units, with a growing emphasis on the southeastern U.S. (see story, page 3). The company has nearly 2,000 tenants, and 380 buildings in OC. Most are believed to be debt free.

BIG BREAK: Worked for Shell, Touche Ross, Motown Records, where he was a VP and business consultant to Berry Gordy, expanding the company out of Detroit to Hollywood. Founding partner in real estate syndicator Gemini Pacific. VP of operations at Dunn Properties before starting Olen.

STOCK HOLDINGS: Reliable sources tell the Business Journal that much of Olenicoff’s liquidity is invested in the stock market, and it has been tech heavy the past few years. Those stocks have likely outperformed the 15% gains seen in the S&P 500 index the past year, and countered any potential declines in his real estate portfolio.

IN THEIR WORDS: Company, founded in 1974, nearing 50 years in business. “I have seen a company of substantial stature, with a dedicated staff, rise from a personal dream,” he said. “Today, we are very confident about our future and the achievement of even loftier goals. We know that in our industry there is no room for complacency.”

PHILANTHROPY: Andrei Olenicoff Memorial Foundation, charity for eye health, blindness cure, in memory of Olenicoff’s late son.

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