Sale of Akins Cos. to Catellus Complete

Catellus Development Corp. said Monday it has completed its $9.15-million purchase of the Akins Cos., a family-owned home builder in Irvine.

The new company, called Catellus Residential Group, will remain headquartered in Irvine. The San Francisco-based Catellus is a large, publicly traded developer of real estate in California. Catellus said in December that it would purchase the privately held Orange County builder.