St. Clair Bought Out

Capital Pacific Holdings Inc. said Wednesday it is now the sole owner and developer of a 31-acre oceanfront parcel in Huntington Beach.

Initially the property was purchased by Capital Pacific and St. Clair Co., both Newport Beach residential developers.

The partnership, called Atlanta Huntington Beach, paid $21 million to buy the former Chevron oil field from Shea-Vickers Development on April 6, Capital Pacific said. Since then, Capital Pacific said, it has acquired St. Clair’s interest.

St. Clair declined to comment Wednesday.

Caroline Atikian, a spokeswoman for Capital Pacific, declined to comment on why the company bought out St. Clair or how much it paid to acquire full ownership of the property, which is next to the Waterfront Hilton Beach Resort hotel.