A national homebuilder with a significant presence and operation in Orange County announced a leadership change this week. Tom Grable, Southern California division president of Nevada-based Tri Pointe Homes Inc., has retired and is being succeeded by Scott Pasternak. Pasternak, who has 27 years of industry experience with a background Read More
Formosa Ltd., the Taiwan-based multinational conglomerate owned by Newport Coast executive Joe C. Wen, is the new owner of 5000 Birch Street, a two-building and 310,000-square-foot office campus in Newport Beach. Lincoln Property Co. was hired by Formosa to manage and operate the office campus, which is home to tenants Read More
A Miami-based real estate developer is the new owner of a two-building, 350-unit apartment complex in Santa Ana’s South Coast Metro market, paying $240 million for the property. San Mateo-based Essex Property Trust Inc. sold its interest in the 512,791-square-foot Skyline at MacArthur Place for nearly $685,000 per unit to Read More
High drama involving developers, a large hospital and the federal government is unfolding as a drastic and sudden shift has occurred for control of one of the largest pieces of prime real estate in South Orange County. Newport Beach-based Hoag Memorial Hospital Presbyterian confirmed to the Business Journal it was Read More
A 392-unit affordable housing complex located a few miles north of Disneyland changed hands for $108 million, according to CoStar data. Park Vista in North Anaheim was sold to Beverly Hills-based BLDG Partners by Bethesda Holdings for about $275,510 per unit. The affordable housing development at 1200 N. Robin St. Read More
The growing list of significant office-to-residential conversion projects proposed across Newport Beach has expanded to include a waterfront property in the city. The owners of Bayside Park, a two-building office complex in Corona del Mar that sits alongside the Marine Avenue bridge leading to Balboa Island, are looking to redevelop Read More
La Palma investor Peter Yu is the new owner of a four-property portfolio at Warner Marketplace in Fountain Valley. Yu, through his company WMYU LLC, bought the Warner Marketplace portfolio from New York-based Fortress Investment Group for $24.5 million on March 6, according to CoStar data and public documents. Huntington Read More
Orange County’s oldest law school will have a new home to start the fall 2025 semester. Western State College of Law, the juris doctorate-issuing school Westcliff University, will move into its new home at 15101 Red Hill Ave. in Tustin ahead of the upcoming 2025-26 academic year. Westcliff University bought Read More
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 in October of last year, the Business Journal has learned. Hilco on Wednesday vowed to fight it, as the general contractor announced it Read More
Two projects slated to bring more housing in Brea, including a development at the former Mercury Insurance property, will soon be considered by the city’s council members. Members of the Brea Planning Commission were in favor of a proposal calling for the demolition of the former Mercury Insurance office building Read More
