Capital Pacific Plans Dana Point Sea-View Homes
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NEWPORT BEACH — Capital Pacific Holdings Inc., the home builder once known as J.M. Peters, said Monday that it has bought 25 acres of ocean-view property in Dana Point for $10 million.
Capital Pacific, which has been expanding its development of luxury homes, said it will build expensive housing at the site. The company would not provide further information about the site.
The Newport Beach-based builder, which operates in California, Nevada, Texas and Arizona, recently sold a stake in its business to private investors, a deal that gave it $30 million in expansion capital.
It is currently selling million-dollar homes in the hills above the San Fernando Valley and is preparing to develop others at a site on the Palos Verdes Peninsula.
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