Newport-Banning Ranch Due Diligence
Owner Representation
Workout Analysis
Newport Beach, California USA
The 505-acre Newport Banning Ranch was owned by an affiliate of Nissho Iwai American Corp. (NIAC), in venture with partners (Taylor Woodrow Company and a major oil company). NIC was interested in what feasible disposition and/or development options might be best for this property.
Important issues included its location within a California Coastal Commission LCP planning jurisdiction, ongoing oil and gas extraction operations conducted throughout the County (454 acres) portion of the property, abandoned oil well clean-up, and sensitive habitats, steep coastal bluffs, gullies and ravines.
Work completed for NIAC while Stonecreek was retained as U.S. representative for new acquisitions and venture investments in real estate.
Client: Nissho Iwai American Corp. (NIAC); U.S. subsidiary of Nissho Iwai Corp (NIC).
