October 10, 1997 |
Home builder Capital Pacific Holdings Inc. sold a minority stake in the company for $40 million Thursday to private investors headed by a San Francisco money management firm. Capital Pacific, formerly J.M. Peters Co., has grown rapidly since its current owners bought it from federal regulators in 1992. But the growth was fueled by $100 million in bonds carrying a 12.
October 22, 1993 |
In what its president called "the real turnaround point for us," home builder J.M. Peters Co. said Thursday it posted a profit of $4.7 million for September--its first in 39 months. Though most of the earnings came from a onetime gain of $4.4 million, J.M. Peters also recorded a $340,000 profit from its business of building and selling homes. "This is the direction we'll be heading from now on," company President Dale Dowers said.
May 6, 1997 |
Fast-growing home builder Capital Pacific Holdings Inc. said Monday that it's exploring selling part or even all of itself to new investors. CPH, formed from the ruins of the J.M. Peters Co., said it has hired investment bankers from Morgan Stanley & Co. to help it evaluate its options. Nothing is ruled out, Chief Executive Dale Dowers said in an interview.
September 23, 1992 |
After nearly a year of virtual inactivity as the federal Resolution Trust Corp. choked off its financing while trying to sell it, the newly reorganized J.M. Peters Co. has obtained a $23.6-million investment that has put the home builder back to work. The financing, provided by a major pension fund whose identity was not disclosed, lets Peters Co. begin work on 335 homes in four South County projects. Grubb & Ellis Co.'s Newport Beach office arranged the funding.
April 3, 1997 |
Just as the real estate market is heating up, home builder Costain Homes Inc. is expected to shut down its operations after selling its remaining homes in Thousand Oaks, industry sources say. Executives at Costain and its parent company, British conglomerate Costain Group in London, wouldn't comment on their plans for the U.S. home building unit. But several sources close to the company said the Newport Beach-based business would be closed.
July 17, 1998 |
Capital Pacific Holdings Inc. said Thursday it paid $120 million for a huge Dana Point golf, hotel and luxury home project put on hold by the early-1990s real-estate bust. The 225-acre Monarch Beach Resort site, mostly on the inland side of Pacific Coast Highway, includes an existing beach club and a golf course. The site, near the Ritz-Carlton hotel, has been pre-approved for a 400-room luxury hotel and 238 homes.
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 18, 1994 |
In an ambitious move that positions J.M. Peters Co. for a recovery, the Newport Beach home builder said Tuesday it has raised $100 million through a private bond sale. J.M. Peters, like other Southern California home builders, has been hard hit by the real estate downturn. Since reporting a string of losses in the early 1990s, it has struggled to obtain badly needed capital.
September 24, 1993 |
In an ambitious push into one of the West's few hot housing markets, J.M. Peters Co. said Thursday that it has acquired a major Las Vegas builder in a cash-and-stock deal worth an estimated $5 million. The Nevada company, Durable Homes, has been consistently profitable through the past three years of recession. Its acquisition signals a significant turnaround for J.M. Peters Co.