Embed Size (px)
Citation preview
Real Estate 2 Sunday, March 1, 2015 Register1
REAL ESTATE
Apply Today!
Mortgage Loan Rates
3.625%30 YearFixed
APR*3.740%
With rates this low, all we can say is…
Welcome Home.
Apply Today!
We Listen. We Lend.YourCreditUnion.com
866.640.0776*APR = Annual Percentage Rate. Rates as of 02/27/15. Rates are subject to change without notice. Rates may be higher based on loan-to-value (LTV), credit score, loan typeor collateral type. For all 1st Trust Deed Loans: Owner-occupied California properties only. APR based on $250,000.00 loan amount with 0.5997% points. RepresentativeExample: Make 360 monthly payments of $1,140.13 each month at 3.740% APR. All loans subject to Paciic Community’s customary due diligence,underwriting, credit approval and documentation. Other terms and conditions may apply. Services available to anyone who lives, works, worships or attendsschool in Orange County, Riverside County, the San Gabriel Valley and the Gateway Cities of Los Angeles County. Federally Insured by theNCUA.
areas measured, the Na-tional Association ofRealtors said in a Feb. 11report.
Lowe’s has surveyedconsumers every quartersince 2007, and the por-tion of people who said inthe most recent poll thatthe value of their home isrising increased to 50percent, the most ever.
“That’s certainly goodfor their willingness tospend on the home,” Ni-block said. Rising valuesof existing houses will bethe single-biggest driverof Lowe’s business, hesaid.
Even more good newscomes from the remodel-ing industry. A survey bythe National Associationof Home Builders duringthe fourth quartershowed the number ofcompanies seeing in-creases in major projectsand committed work forthe next three months isat an all-time high.
Both Home Depot andLowe’s saw their same-store sales acceleratethroughout the quarter,with January having thestrongest results. Thetrend may bode well forthe spring, which is theirbiggest selling season be-cause warmer weatherspurs the most repairsand landscaping. Thechains also may have easycomparisons becauseprolonged cold weatherlast year delayed pur-chases in parts of the U.S.
“From all the driversout there, I feel reallygood about spring,” Ni-block said.
are home values becausethey drive people tospend on repairs and re-models. Gains in homeprices slowed much oflast year then picked upspeed in the fourth quar-ter. The median price ofan existing single-familyhome rose from a yearearlier in 86 percent ofthe 175 metropolitan
FROM PAG E 1
CHAINS
CHUCK BURTON, AP FILE PHOTO
A customer leaves aLowe’s home-improve-
ment store in Mat-thews, N.C., in Novem-
ber. At Lowe’s, receiptsgreater than $500
surged 13 percent inthe fourth quarter.
We’re on the go, just like you.Download the OC Register Mobile App today
The Shorebreak in Hun-tington Beach is under newmanagement after the bou-tique hotel was sold lastmonth to DiamondRockHospitality.
The hotel is under man-agement by Kimpton Ho-tels, based in San Francis-co, as its eighth hotel inSouthern California andfirst in Orange County. TheKimpton portfolio includes64 hotels and more than 70restaurants, bars andlounges nationwide.
“We’ve been looking forthe right opportunity topartner with Kimpton asthe recognized leader inthe boutique sector andwhen this came along, wejumped at the chance towork with them,” said TroyFurbay, DiamondRock’sCIO.
The hotel is within TheStrand, a mixed-use com-mercial development in-cluding retail, office andparking, which alsochanged hands in Febru-ary. Cypress Equities inDallas bought the 100,000-square-foot center for anundisclosed amount fromCIM Group of Los Angeles.
The Shorebreak in-cludes 157 guest rooms, wa-terfront views, 3,920square feet of meetingspace and a fitness center.
Kimpton has brought inBrent McNally as its gener-al manager for Shore-break. McNally previouslywas an assistant generalmanager for a Kimpton atits Cypress Hotel in SiliconValley.
Aimee Grove, a Kimptonrepresentative, told the Re-gister there were no imme-diate renovation or décorchanges planned. Guestswill find traditional Kimp-ton amenities, such asthemed robes and yogamats in the room, Grovesaid.
Executive Chef BrianDrosenos at the hotel’s res-taurant, Zimzala, will stayon under Kimpton man-agement.
The hotel is at 500 Pacif-ic Coast Highway.
Kimpton was acquired in
January by hospitalitygiant InterContinental Ho-tels Group, which is basedin the U.K.
DiamondRock Hospital-ity is a self-advised real es-tate investment trust thatowns 28 hotels with morethan 10,700 rooms. Thecompany has positioned itshotels to generally be oper-ated under the leading glo-bal brands, such as Hilton,Marriott and Westin, aswell as lifestyle hotels.
On the move Southland Industries,
an engineering, construc-tion and energy solutionsprovider, has hired RichardHolzer as the managingprincipal engineer of thecompany’s Southern Cali-fornia division in GardenGrove. Holzer will lead the
division’s design engineer-ing, building informationmodeling and constructiondepartments. He will also
help guideengineer-ing servic-es at a re-gional andnational le-vel.
Bob Pe-terson washired as
vice president of invest-ments for Passco Cos., anIrvine-based real estatefirm that focuses on multi-family and commercialproperties throughout thenation. Peterson will workto identify, negotiate andacquire industrial and re-tail properties in the U.S.Before joining Passco, hewas the managing directorat Buchanan Street Partn-
ers in Newport Beach.
MilestonesCentury 21 Real Estate
awarded Century 21 Dis-covery in Fullerton the ArtBartlett 2100 Cup Award.The award is given to acompany that demon-strates the highest levels ofleadership, customer ser-vice and professionalism. Ithas only been awarded 13times in the 44-year historyof Century 21.
The Fullerton company,at 100 W. Valencia MesaDrive, accepted the awardat the Century 21 GlobalConference in Washington,D.C.
Unire Real Estate Groupin Brea is celebrating 15years in business this year.Unire Group has grownfrom managing 1 million
square feet in 2000 to morethan 35 million square feetin the beginning of 2015, ad-ding more than 6 millionsquare feet to its portfoliolast year. The companyspecializes in property,transaction, constructionand asset management,with properties through-out the six-county South-ern California region, aswell as the Greater SanFrancisco Bay area, andLas Vegas.
New ventures San Juan Capistrano-
based energy solutionscompany Regatta Solu-tions has acquired WedgeConsulting, a Costa Mesa-based energy efficiencyand sustainability firm.The acquisition will allowseveral services for Regat-ta, including bench mark-ing, retro-commissioningand energy analysis forcomplex buildings, includ-ing laboratories and datacenters. Regatta distri-butes, maintains, engi-neers and consults for Cap-stone microturbines,which are used as alterna-tive methods of power gen-eration.
Costa Mesa-based Do-nahue Schriber RealtyGroup, a real estate invest-ment trust that specializesin shopping centers, re-ceived $250 million in cap-ital from investors. Themoney will fund acquisi-tions focused on grocery-anchored neighborhoodand community shoppingcenters. It also will go to-ward power centers alongCoastal California to thePacific Northwest.
An affiliate of Palo Alto-based Menlo Equities hasbought Campus SouthCounty in Foothill Ranchfrom New York-based Met-Life. The property is a288,348-square-foot, three-building office campus at27042, 27051 and 27121Towne Centre Drive.CBRE’s Institutional Pro-perties Group in Los An-geles represented the sell-er.
Send real estate-relatedcorporate news and property
announcements to AngelaRatzlaff at aratzlaff@
ocregister.com. Items will beedited for length and clarity.High-resolution photos can
also be included in the email.
SHOREBREAKHOTEL GETSNEW OWNER,
OPERATOR, GM
REAL ESTATE BRIEFLY
ROD VEAL, FILE PHOTO
Robert Bryant and Celeste Clippinger of San Diego walk past The Shorebreak in Hun-tington Beach. The Shorebreak is now part of the boutique Kimpton Hotels chain.
Holzer
TO ADVERTISE IN THIS SECTION
Call: 714-796-5060Fax: [email protected]
ON TWITTERFollow us at @ocrbiz
FIND A HOME OR APARTMENTLooking for a new homeor the perfectapartment? TheRegister’s website canhelp you search forlocation, source andproperty criteria. Go to ocregister.com/realestate
HOW TO CONTACT US
FOR NEWS STORIES,PRINT OR ONLINEBernard WolfsonBusiness editor [email protected] 714-796-2440
Samantha Gowen Assistant business editor [email protected]
Maurine Pool Business wire [email protected] 714-796-4992
Joanna Clay Retail reporter [email protected] 714-796-3646
Jeff Collins Real estate reporter & blogger [email protected]
Marilyn Kalfus Real estate reporter [email protected] 714-796-4903
Jonathan LansnerBusiness columnist [email protected] 949-777-6727
Nancy LunaFood industry [email protected]
Hannah MadansGeneral assignment [email protected]
Margot Roosevelt Economy [email protected]
Angela RatzlaffStatus Update [email protected]
SEC: Real Estate DT: 03-01-2015 ZN: 1 ED: 1 PG #: 2 PG: Mortgage_F BY: jdelillo TI: 02-27-2015 22:08 CLR: K
