Our Haute 100 list details the accomplishments of the most influential people in each of our markets—Miami, New York, Los Angeles, and San Francisco. These people continue to make moves, so rather than waiting for the next Haute 100 issue to come out, we thought we’d provide you with regular updates on those Haute 100 members who are making headlines. Irvine Co. closes on its acquisition of first office outside of California.
Company: Irvine Co.
Industry: Real Estate
What Made Him Haute: One of the wealthiest men in Orange County, Bren is chairman of the Irvine Co., one of the most respected and diversified privately held real estate companies in America. He was one of the first to develop the idea of “planned communities.” He is also a respected philanthropist with a lifetime giving total of more than $1.3 billion.
What Makes Him Haute Now: Irvine Co. closed on its acquisition of Chicago’s 48-story Hyatt Center office building on Monday, giving the company the opportunity to boast a beautiful Chicago skyscraper among its prize assets. This is the first office space Orange County’s dominant real estate company purchased outside of California. Home to Hyatt Hotels Corp. and law firm Mayer Brown, Rowe & Maw LLP, the building is has about 1.5 million square feet of office space and displays a distinctive curved glass and stainless steel tower.
Although terms of the transaction were not disclosed, The Wall Street Journal placed a $625 million price tag on the contract.