REAL ESTATE
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Two Irvine companies join, offer help for troubled properties
Developers Research merges with Classic Pacific Construction to expand its project-rescue service.
By Susan BelknappPublished: February 09, 2009 02:20 PM
Land consulting firm Developers Research announced today that it is merging operations with Classic Pacific Construction, an esteemed homebuilding company. Both entities are based in Irvine.
The merger will offer financial institutions a one-stop solution for getting troubled real estate back on track.
The combination of Developers Research and Classic Pacific Construction under the same corporate umbrella will offer holders of distressed property the ability not only to analyze a partially built project’s problems, but to fix them, according to Developers Research president Barry Gross.
This will cover everything from cost analysis and entitlement to all aspects of horizontal and vertical construction – up to and including the marketing of completed homes.
“We’re going to help the financial institution make a decision about whether to take control of a project,” says Gross. “Then from that point we’ll streamline the rest of process through every phase until they’re ready to dispose of the project. We can accelerate that whole process and keep it simpler at the same time.”
“This merger represents an opportunity for our existing and proposed clients to be able to solve their problems very quickly with highly qualified, experienced real-estate operators,” Gross adds.
The new company will continue to do business as Developers Research, with Classic Pacific functioning as a wholly owned subsidiary out of the same headquarters in Irvine.
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The state of real estate
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The merger will offer financial institutions a one-stop solution for getting troubled real estate back on track. The combination of Developers Research and Classic Pacific Construction under the same corporate umbrella will offer holders of distressed property the ability not only to analyze a partially built project’s problems, but to fix them, according to Developers Research president Barry Gross. This will cover everything from cost analysis and entitlement to all aspects of horizontal and vertical construction – up to and including the marketing of completed homes. “We’re going to help the financial institution make a decision about whether to take control of a project,” says Gross. “Then from that point we’ll streamline the rest of process through every phase until they’re ready to dispose of the project. We can accelerate that whole process and keep it simpler at the same time.” “This merger represents an opportunity for our existing and proposed clients to be able to solve their problems very quickly with highly qualified, experienced real-estate operators,” Gross adds. The new company will continue to do business as Developers Research, with Classic Pacific functioning as a wholly owned subsidiary out of the same headquarters in Irvine. Related headlines Local company to build parking structure at Fashion Island Area McDonald's restaurants launch fundraiser "OC METRO Minute" Feb. 9: Coldwell Residential Brokerage in Orange County launches new program The state of real estate |
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