July 11, 1992 |
Sale of controlling interest in J.M. Peters Co. moved a step closer to completion Friday with the signing of a definitive agreement under which another Orange County home builder would acquire 12 million shares of Peters Co.'s common stock and more than $144.8 million of its debt. None of the parties involved in the deal were available for comment Friday, and details of the agreement were not disclosed.
June 23, 1992 |
The sale of home builder J.M. Peters Co., being negotiated by the federal government, could cost taxpayers nearly $100 million because it would give the buyer 2,000 prime Southern California residential lots at discounts of 40% or more. Capital Pacific Homes Inc., the prospective buyer, is already trying to sell some of the property at nearly twice the average price of $53,200 a lot that it would pay if the deal goes through, The Times has learned. Several industry insiders have said that J.M.
June 23, 1992 |
The sale of an Orange County home builder being negotiated by the federal government could cost taxpayers nearly $100 million because it would give the buyer 2,000 prime Southern California residential lots at discounts of 40% or more. Capital Pacific Homes Inc., the prospective buyer of Newport Beach-based J. M. Peters Co., is already trying to sell some of the property at nearly twice the average price of $53,200 a lot that it would pay for them if the deal goes through, The Times has learned.
June 16, 1992 |
Controlling interest in the J.M. Peters Co., valued at more than $110 million just three years ago, would change hands for $47.25 million under a tentative deal signed Monday. The deal is between the federal Resolution Trust Corp. and Capital Pacific Homes Inc. in Newport Beach. Dale Dowers, president of Capital Pacific, said his firm would become a holding company with Newport Beach-based J.M. Peters Co. as its development arm if the cash sale is completed as anticipated on July 1.
May 30, 1992 |
Capital Pacific Homes, a year-old firm headed by longtime Orange County builder Dale Dowers and former Washington construction magnate Hadi Makarechian, said Friday it has won exclusive rights to negotiate for the acquisition of the J.M. Peters Co. Although all of the parties in the deal refuse to provide details--despite the Peters Co.'
September 12, 1991 |
Dale Dowers and Hadi Makarechian are starting a home-building company in Orange County--in the midst of a two-year industry slump that has dozens of established builders on the verge of collapse. You may ask: Are these men crazy? Not likely, Dowers says with a smile. The new company, Capital Pacific Homes Inc., believes it has a secret weapon: money.