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Real estate news: Laguna Cliffs Inn will get makeover, new name; Ocean Ranch Village center renovated

Real estate news: Laguna Cliffs Inn will get makeover, new name; Ocean Ranch Village center renovated

Classic Hotels & Resorts, which purchased the Laguna Cliffs Inn in May 2014, will invest $ 1.5 million in a complete overhaul of the property. In April, the hotel will reopen under a new name: Laguna Beach House.

Classic Hotels & Resorts, which bought the Laguna Cliffs Inn last May, will invest $ 1.5 million to overhaul the property.

In April, the hotel will reopen as Laguna Beach House.

The remodel will touch 36 guestrooms, public spaces, the lobby, and the pool deck. A new meeting space also will be added.

“We modeled the Laguna Beach House after your quintessential California beach cottage, right down to the textiles and tapestry,” said Matt Crow, Classic Hotels chief executive, in a statement.

The boutique hotel is located on the cliffs of Laguna Beach adjacent to The Inn at Laguna Beach – a 70-room boutique hotel also owned and operated by Classic Hotels.

New room decor will exemplify California’s laid-back beach style with vintage Gordon & Smith skateboards used as towel racks and custom surfboards above the beds.

Twenty guest rooms will have private balconies with views of the coast. The new pool will feature a fire pit and a lounge.

Classic Hotels & Resorts is an affiliate of Grossman Company Properties, a commercial and residential developer in the Western U.S. GCP has built, developed and managed more than 14 million square feet of properties, including Arizona Biltmore Resort & Spa, Biltmore Fashion Park, Inn at Laguna Beach and the Phoenix Spectrum Mall.

– Joanna Clay

Milestone

Joseph Davis, chief investment officer of Aliso Viejo-based The New Home Co., will be among the inductees of the California Homebuilding Foundation Hall of Fame in 2015. Five other leaders in the homebuilding industry also will be inducted. Inductees are selected based on career success, industry participation, philanthropy and community involvement. At The New Home Co., Davis directs land acquisition, community planning, land development and land sales. The ceremony will take place at the CHF Hall of Fame gala on June 23 at the Hilton San Diego Bayfront.

On the Move

Irvine-based Bellwether Enterprise Real Estate Capital, a subsidiary of Enterprise Community Investment, has hired Doug Taylor as senior vice president. Taylor will be based out of the company’s West Regional office in Irvine. He will work with multifamily and commercial real estate debt financing throughout the U.S. Before joining Bellwether, Taylor was senior vice president for Capital One Multifamily Finance in Newport Beach where he was responsible for commercial loans across the U.S.

New Ventures

Newport Beach-based real estate investment company MIG Real Estate has acquired Midtown Commons at Crestview Station in central Austin, Texas. The property consists of 562 multifamily units as well as 58,883 square feet of commercial space. The location is one mile away from the Highland Mall, which will be converted by Austin Community College into a center for innovative learning, and four miles away from The Domain, a 1.3 million-square-foot of retail shops including Neiman Marcus, Macy’s, Dillard’s and Whole Foods.

Aliso Viejo-based Shea Properties unveiled Ocean Ranch Village renovations earlier this month. The 150,000-square-foot retail center, located on the corner of Camino Del Avion and Golden Lantern in Laguna Niguel, is fully occupied. The center hadn’t been updated since initial construction in the early 1990s. The remodel added pedestrian access from elevated street level, a heated shade structure as well as a stage area for music.

Los Angeles-based Kearny Real Estate Co. sold a 7,300-square-foot office building in Newport Beach to law firm Klein and Wilson, also of Newport Beach. The transaction was worth $ 2.9 million. The property, at 4770 Von Karman, is in the Newport Corporate Plaza, and it is one of five buildings acquired by Kearny in June 2014. Steve Economos, executive vice president of Irvine-based Jones Lang LaSalle, represented Klein Wilson.

Send real estate-related corporate news and property announcements

to Angela Ratzlaff at

aratzlaff@ocregister.com.

Items will be edited for length and clarity. High-resolution photos can also be included.

The Orange County Register – News Headlines : Real Estate News