Biz News: Duke Hotel in Newport is renamed the Renaissance

Crescent Hotels & Resorts has rebranded the Duke Hotel in Newport Beach as the Renaissance Newport Beach Hotel.

Renovation of the hotel’s 444 rooms, lobby, restaurant and banquet space is scheduled for completion this spring.

The Duke Hotel was the temporary name for what had been the Fairmont Newport Beach. The property at 4500 MacArthur Blvd. opened in 1984 as the Hotel Meridien.

It is distinctive for its temple-like architecture and three terraced guestroom wings.

Costa Mesa industrial building is sold

Newport Beach-based Lee & Associates, a commercial real estate firm, recently negotiated the sale of an industrial building in Costa Mesa.

The 17,100-square-foot industrial site at 1635 Superior Ave. sold for $4.8 million. The buyer’s identity was not immediately available.

Forbes Travel Guide gives high marks to local resorts

Forbes Travel Guide recently recognized the Resort at Pelican Hill and the Spa at Pelican Hill in Newport Coast with its highest five-star rating.

The Balboa Bay Resort in Newport Beach was named a four-star hotel.

Networking group starts Huntington Beach chapter

The Business Executives Networking Group is starting a new chapter in Huntington Beach, its first on the West Coast.

It plans to bring job seekers and networkers together, according to a news release.

The group will meet from 12:30 to 2:30 p.m. the last Saturday of each month at the Omelette Inn Cafe at 15070 Edwards St.

For more information, contact Ron Flores at ronflores@thebeng.org.

Huntington Beach apartment complex sells for $90.5 million

Pacific Shores, a 264-unit apartment community in Huntington Beach, has been acquired by TruAmerica Multifamily for $90.5 million.

The complex at 7701 Warner Ave. had been owned by affiliates of UDR Inc.

Los Angeles-based TruAmerica will invest millions of dollars in the property through a capital improvement program, according to a news release.

RSI Communities is sold to William Lyon Homes

Newport Beach-based William Lyon Homes has acquired RSI Communities, based in Newport Beach and Round Rock, Texas.

Lyon bought the company and three related real estate assets for about $460 million, according to a news release.

The transaction is expected to close in coming weeks and marks Lyon’s first entry into Texas.

Newport apartment community sells for $18.5 million

The Mogharebi Group has completed the sale of the Landing, a 52-unit apartment complex at 20102 S.W. Birch St. in Newport Beach.

A unidentified investor based in Orange County bought the 1.79-acre property for $18.5 million.

Hoag breast and ovarian cancer program names a co-director

Hoag Hospital in Newport Beach has named Dr. Lisa Abaid co-director of gynecologic oncology for the Breast & Ovarian Cancer Prevention Program.

“The most effective cure for ovarian cancer is prevention, so ‘prevention’ is prominent in our program’s name,” Abaid, a Hoag medical staff member since 2008, said in a statement. “As a result of its whole-woman focus on preventing this debilitating and deadly disease and preserving their quality of life, the Breast & Ovarian Cancer Prevention Program at Hoag has set itself apart from other high-risk programs in Orange County and nationwide.”

Newport Beach-based firm invests in Indi

Cambridge Cos. SPG, a Newport Beach-based strategic investment firm specializing in emerging consumer food and beverage brands, has invested in Indi, a social customer influencer platform.

Indi “creates a safe platform for brands to engage directly with consumers and drive word-of-mouth sales,” according to a news release.

Indi is used by Starbucks, Macy’s and others.

Mother’s Market donates $5,000 to environmental charity

Mother’s Market & Kitchen, a Costa Mesa-based natural and organic foods retailer, has donated $5,000 to environmental education charity Naturalist for You, based in Silverado.

Funds were collected from grocery bag sales from Oct. 1 through Dec. 31, according to a news release.