Monarch Beach resort at Dana Point gets $30 million makeover – Orange County Register

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Nearly two years after purchasing the Waldorf Astoria Monarch Beach Resort & Club in Dana Point, Ohana Real Estate Investors is in the final stages of a $30 million guest room renovation.

The five-diamond resort, acquired by Ohana for $497 million in November 2020, is managed by Hilton and expects the renovation to be complete this month.

“We remain invested in strengthening the local economy – while preserving the character that makes Dana Point such a sought-after beach community in California,” said James Cole, partner at Ohana Real Estate Investors.

Each of the resort’s 400 rooms and suites benefit from new flooring, new furniture and new finishes. Other upgrades include foyers for 77 ground floor rooms and suites.

  • The Fireside Terrace guest room was part of the $30 million in guest room renovations at the Waldorf Astoria Monarch Beach at Dana Point. (Courtesy of Ohana Real Estate Investors)

  • The Waldorf Astoria Monarch Beach Resort & Club in Dan...

    The Waldorf Astoria Monarch Beach Resort & Club at Dana Point is in the final stages of a $30 million guest room renovation. (Courtesy of Ohana Real Estate Investors)

  • The one-bedroom luxury suite was part of $30 million in renovations...

    The one-bedroom luxury suite was part of $30 million in room renovations at the Waldorf Astoria Monarch Beach at Dana Point. (Courtesy of Ohana Real Estate Investors)

The resort will convert 20 of its studio suites into one-bedroom suites, which will have a separate living room from the bedroom and a private terrace.

Waldorf Astoria has 32 resorts in its portfolio. Monarch Beach Resort opened in 2001 under the St. Regis brand, which it discontinued in 2016. The blufftop resort sits on 162 acres and features a 6-acre beach club, three swimming pools and an 18-hole golf course.

For more information, visit waldorfastoriamonarchbeach.com.

Costa Mesa warehouse sold to BLT in Santa Monica

BLT Enterprises in Santa Monica paid $23.250 million for a 12,620 square foot warehouse in Costa Mesa on 3.02 acres of industrial land.

Located at 3539 Howard Way and adjacent to another BLT-owned and FedEx-operated property, the vacant building will allow the investment company to woo transportation and logistics tenants.

The purchase was part of a seven-building deal in Southern California for a total of $130 million. Located in Los Angeles, Orange and San Diego counties, the properties represent 270,000 square feet of buildings on 18 acres.

“Thanks to the investments and market insight of our seasoned team, BLT saw the opportunity to expand our footprint in the Southern California markets where we own and actively manage creative offices and industrial properties,” said said Lukas Huberman, Director of Acquisitions.

Affordable housing investment firm closes $153 million fund

WNC, an Irvine-based investment firm that specializes in affordable housing, closed its Institutional Tax Credit Fund WNC 53, LP, a low-income housing tax credit fund with 153.4 million dollars in equity.

The money was raised from nine institutional investors, WNC said, and will be used to build and renovate more than 1,300 affordable homes at 16 properties in 10 states, including California and the District of Columbia. Some housing units go to veterans; homeless, formerly homeless or at risk of homelessness; and residents with reduced mobility, hearing and visual impairment.

WNC said the total capital raise since inception now stands at $7 billion.

“WNC has spent more than five decades working alongside investment partners to provide safe, high-quality and affordable housing to families in need across the country,” said the executive vice president of community relations. WNC investors, Christine Cormier.

Tom VanDorpe will serve as president and CEO of the new merger of Orange-based VCA Consultants and Denver-based Enayat Schneider Smith Engineering Inc..  (Courtesy of VCA Consultants)
Tom VanDorpe will serve as president and CEO of the new merger of Orange-based VCA Consultants and Denver-based Enayat Schneider Smith Engineering Inc.. (Courtesy of VCA Consultants)

VCA in Orange merges with the Denver company

Orange-based VCA Consultants, a structural engineering consulting firm, merged with Denver-based Enayat Schneider Smith Engineering Inc.

The two companies will be co-branded for a short time before ESS transitions to VCA Structural. Tom VanDorpe will serve as president and CEO for both sites, according to Mark Van Gaale, director of VCA.

With the addition of ESS, VCA expands its operations to the Rocky Mountain region. VCA has 170 employees with offices in Orange, Oakland, Chicago, Honolulu and now Denver.

“We are very proud of our partnership with ESS. This positions us to bring out the best for everyone involved, especially our customers,” said Tom VanDorpe, CEO of VCA. Travis Smith, Senior Vice President at ESS, said, “We are excited to join forces to create a stronger structural engineering company. VCA strives for excellence, which corresponds to our corporate philosophy.

As Vice President of National Sales, Steven L. Senft will lead the new Chicago Title Hospitality Group in Newport Beach.  (Courtesy of Chicago Title National Commercial Services California)
As Vice President of National Sales, Steven L. Senft will lead the new Chicago Title Hospitality Group in Newport Beach. (Courtesy of Chicago Title National Commercial Services California)

Moving

Chicago Title National Commercial Services California, a member of the Fidelity National Financial family of companies, launched Chicago Title Hospitality Group.

The new group will be led by hospitality industry veteran Steven L. Senft as vice president of national sales. He will be based in Chicago Title’s Newport Beach office.

Senft has 24 years in the hospitality industry. During his career, he has been involved in the sale, development, management, advisory and financing of over $15 billion in hotel assets representing over 1,000 hotels.

Real estate transactions, leases and new projects, industry hires, new companies and upcoming events are compiled from news releases by editor Karen Levin. Submit articles and high-resolution photos via email to Business Editor Samantha Gowen at [email protected] Please allow at least a week for posting. All elements are subject to change for clarity and length.

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