REAL ESTATE

Orange County Business Journal, May 11, 1998

GEORGE LEON ARGYROS

Chairman/CEO, Arnel & Affiliates

General Partner, Westar Capital

Born in Detroit, Feb. 4, 1937

Lives in Newport Beach (Harbor Island)

Prominent investor/developer who evokes strong feelings, both pro and con. Leading champion of the proposed El Toro commercial airport, has spent nearly $2 million to steer the project through two successful voter referendums.

In the news of late because of Apria Healthcare Group Inc., a venture capital home run that has turned into a public company foul ball; has absorbed more than $65 million paper loss on his 5.4% stake. Recently resigned as Apria chairman to pursue possible buyout of the company. Faring better is his booming Metro Pointe retail-entertainment-office complex across from South Coast Plaza.

Second generation Greek American. First job was mowing lawns, moved up to paperboy, later worked in grocery industry, briefly studied food distribution. Got licensed in securities, insurance and real estate. Ultimately chose real estate.

Today through Arnel & Affiliates owns, manages about 5,400 apartments in OC, and more than 2 million square feet of office in the region. Has more than $100 million invested to date in Westar, managed by John Clark; funds' holdings include Apria Healthcare, U.S. Computer Services, Tecstar, All-Post Inc., Doskocil Manufacturing Co. Previously owned Seattle Mariners baseball team and, with William Lyon (see Honorable Mentions), AirCal.

Directorships include First American Financial Corp., the Newhall Land and Farming Co. and Rockwell International Corp.

Alumnus of Michigan State, Chapman University. Chairman of Chapman's board of trustees since 1976, top benefactor: student center, Argyros Forum, named after him. Member of the board of CalTech, Independent Colleges of Southern California, Richard Nixon Library & Birthplace, founding chairman for Nixon Center in Washington. D.C. Past chairman, current board member, Orange County Council Boy Scouts of America.

1993 winner of the Horatio Alger Award of Distinguished Americans. Wife Judie a fixture in OC society scene; three children. Enjoys sailing, snow skiing, golf, fishing and hunting.

DONALD LEROY BREN

Chairman, The Irvine Co.

Born in Los Angeles, May 11, 1932

Lives in Newport Beach (Linda Isle)

County's wealthiest man (Forbes estimate of worth, $2.5 billion, up $500 million from previous year) and widely considered its most powerful.

In growth mode. Having consolidated his ownership of the Irvine Co. last year, has begun expanding holdings outside of Orange County with acquisitions in San Diego County and northern California; recently acquired 42 acres in Silicon Valley for planned business park.

Also has spent almost $60 million in past year to buy back 2 million shares of his REIT spin-off, Irvine Apartment Communities. Exercised right of first refusal to acquire AST Computer headquarters complex, said to be shopping for more buildings in his Irvine Spectrum area.

Moving forward with various development activity on 54,000-acre Irvine Ranch holdings, including 400,000 square feet of retail and 2.3 million square feet of industrial space near the Jamboree Road and I-5 juncture. Sold roughly 2,000 residential lots to residential homebuilders in 1997, up from 1,700 lots in 1996. So far this year, about 40 custom lots sold at Newport Coast, many for $1 million or more.

Company estimated revenue of $810 million for FY 96/97, expected to climb to high $900 million for 97/98. Holds 60% of IAC, which reported '97 sales of $186.9 million and profit of $26.4 million. Pal of Gov. Pete Wilson, who occasionally visits Irvine Co. HQ in Newport Beach.

Large benefactor of UC system: Last year gave $15 million for new environmental science and management school named after him at UC Santa Barbara, also $5 million to UCI College of Medicine for five additional Bren Fellows. UCI's Bren Events Center named after him. Also a trustee for Caltech. Sees self as conservationist; turned over 21,000 acres to Nature Reserve of Orange County.

Son of real estate investor/Hollywood producer Milton Bren; stepmom is actress Claire Trevor. Earned business administration and economics degrees from University of Washington. Founded homebuilder Bren Co. in 1958, and Mission Viejo Co., which he sold to Phillip Morris in 1972. Part of 1977 group acquiring control of Irvine Co. Bought out most partners for $518 million in 1983, in 1991 paid $256 million court award to heiresses Joan Irvine Smith, Athelie Clarke.

Two-time divorcee, four children. Avid (and accomplished) skier.

Also windsurfs, sails, plays tennis.

JULIE NEWCOMB HILL

President/CEO, Costain Homes Inc.

CEO, Hiram Hill Homes Inc.

Born in Loma Linda, July 16, 1946

Lives in Newport Beach

Advocate of women in the executive suite and accomplished executive in her own right.

In transition mode. Completing wind-down of Costain Homes Inc., turned down offers to join national builders to start new homebuilding venture, Hiram Hill Homes Inc., with Costain Homes VP of operation Clinton Hiram Fullen II. Acquired first parcel in Chino Hills, where will build 53 homes; in escrow on second deal, 30 lots in Temecula. Continuing to shop for more land acquisitions, including in OC and LA counties.