Real Estate Expert Meyer Retires After 24 Years at Leventhal
The success of Disneyland’s expansion largely will determine Orange County’s ability to spread redevelopment into older, aging cities such as Anaheim and Santa Ana.
That is one key issue facing the county in the coming years, according to Michael Meyer, the 59-year-old managing partner of E&Y; Kenneth Leventhal Real Estate Group. Meyer retired Wednesday after 24 years as the firm’s point man in Orange County.
From his ocean-view office in Newport Beach, Meyer has played a pivotal role in shaping the county’s landscape, having been a leading consultant to developers of most major projects built over the past two decades, from planned communities to office buildings to industrial parks.
Known for his low-key, slow delivery, Meyer takes a careful, clinical approach to issues that usually wins over clients. “Mike has been the barometer of the real estate economy in our region,” said Donald L. Bren, chairman of the Irvine Co., which uses the firm as accountants and advisors. “He has proven to be an authoritative and insightful counselor.”
Meyer came to Orange County in 1974 when he opened Leventhal’s office here. He joined the firm in 1964, rising quickly through the ranks. He opened the firm’s Washington, D.C., office in 1969, and a became a partner a year later.
As Orange County grew, so did Meyer’s reputation. But while his career soared, his private life was marred by tragedy. His wife died of breast cancer in the late 1970s, and he raised his daughter, Shauna, as a single parent. He remarried in 1984 and fathered another daughter, Marissa, at the age of 50.
He has been honored for his philanthropic work, including the United Way, the Orange County Museum of Art and UC Irvine, but real estate is never far from his mind. Until he retired, Meyer carried two briefcases to work every day.
Meyer plans to embark on a second career by starting a real estate investment advisory firm. He leaves behind an office of 160 people that became one of the company’s largest regional operations. He will be replaced by Steve Duffy, currently the managing director in charge of the Management Services Group in Orange County.
Meyer “is Mr. Orange County for our firm, and the real estate industry,” said Stan Ross, vice chairman and managing partner of E&Y; Kenneth Leventhal based in Century City. In a Q & A with Times staff writer Daryl Strickland, Meyer talks about the future of development in Orange County.
Q. What led you to believe that Leventhal needed to expand into Orange County 24 years ago?
A. There were a lot of new builders starting up in the area, so it was very clear that this was an area that would have substantial growth. I handled several clients back then that were developing in Orange County, including the William Lyon Co., Pacesetter Homes, Eagle Development Co. These companies were developing tract homes in Fountain Valley, Anaheim, Garden Grove. Our bread and butter were the home builders and the retail neighborhood shopping center developers, the office and apartment developers.
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Q. How has Orange County matured differently than what you envisioned years ago?
A. One is the diversity of job growth. Employment growth has outpaced population growth. And two, the toll roads and other freeways have opened up places like Rancho Santa Margarita, Cota de Caza and Aliso Viejo to some extent, allowing Orange County to develop more fully.
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Q. What are the main challenges facing Orange County in the years ahead?
A. The challenge of housing affordability. Twice since I’ve been here, during the up cycles, there has been concern that workers in Orange County won’t be able to find housing, and will have to go further inland. The other challenges are to keep ahead of the game on transportation. We can’t get lazy about that.
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Q. Where do you see the county heading right now?
A. I think the future is just very, very bright. We’ve reached a point where we have the infrastructure of a wonderful community in place. But we’ll start to enter an era of confronting a number of issues that cities dealt with 40 years ago, like redeveloping older areas. The Disney expansion will be a phenomenal boost for the older sections of the county as well as the overall county.
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Q. What cities do you see changing the most over the coming years?
A. San Clemente for new development, in addition to Irvine and Rancho Santa Margarita. Anaheim is undergoing such a dramatic transformation that somebody who leaves the county and comes back five years from now won’t recognize the city. Garden Grove is hanging onto Anaheim’s coattails, and is changing and redeveloping too.
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Q. What would you change about Orange County?
A. There are areas that are not thriving nearly as much as south Orange County. Now that the economy’s good, people forget that there are still people that are hurting, so more needs to be done to meet those needs.
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Q. What was the biggest transaction you were involved with?
A. The acquisition of the Irvine Co. We were already accountant to Cadillac Fairview US, which was a subsidiary of one of the largest real estate companies in Canada. And when the bidding started for the Irvine Co., Cadillac Fairview engaged us to assist them in evaluating the company for their own purposes. The price reached more than they felt they had the resources for so they dropped out. The successful bidders were the Bren group.
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Q. You faced some big challenges as a husband and father early in life. What did you learn from that?
A. You learn to take every day one day at a time. You learn that life is a fleeting thing, and you appreciate every opportunity you have. You learn delegation and letting go. That’s something I’ve always had to work on, my management style. I have a tendency to be concerned about everything and that it goes well. I had to trust, which motivates people to independently accomplish their mission, but still allows me to check up on what’s going on. That’s always been a tough thing.
But if you’re dealing with employees in a way that you’re helping them, then they want to help you, and that helps the client. Then they’re motivated. Whereas, if you deal with people in a selfish kind of way, then they’re not being motivated.
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Michael L. Meyer
Age: 59
Residence: Laguna Beach
Occupation: Accountant and consultant
Career history: Joined Kenneth Leventhal in 1964; opened firm’s Washington, D.C., office in 1969; became partner in 1970; opened Orange County office in 1974
Education: Bachelor’s degree in accounting, University of Iowa, 1960
Interests: Skiing, Asian travel
Personal: Married, two daughters, two stepchildren
Source: Michael L. Meyer
