Shopoff sells entitled Newport Beach townhome parcel to Shea
Shopoff Realty Investments found a buyer for a shovel-ready development site in Newport Beach. Irvine-based Shopoff sold the Park Palm site to Shea Homes for an undisclosed price, Urbanize Los Angeles reported. The property at 4311 Jamboree Road is part of the 25-acre Uptown Newport Village development and is approved for the construction of 23 townhomes. “When we acquired this site, it became clear that residential was what the area and the city of Newport Beach truly needed,” Shopoff CEO William Shopoff said in a statement, calling the Park Palm site “a rare infill opportunity” that has “the potential to […]This article originally appeared on The Real Deal. Click here to read the full story.
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