Stream to Reposition Saddleback Financial Center

LAGUNA HILLS, CA—Stream Realty Partners has been awarded leasing and management responsibilities for Saddleback Financial Center, a 72,900-square-foot, class-A medical/office property here. Parties unrelated to the deal say the owner is True North Management Group. The four-story building is situated next to the I-5 Freeway at El Toro Rd., adjacent to Laguna Hills Mall, and is currently 62% leased. Stream plans to reposition and improve the asset in order to attract new tenants to the building. Capital improvements are also planned for both the interior and exterior of the building, including offering spec suites. The building features an upgraded stone-clad lobby, views of Saddleback Mountain and suites ranging from 1,400 square feet to 18,250 square feet.

NAPA, CA—The Meritage Resort and Spa here has just completed an approximately $8-million renovation of its 157 original rooms. Combined with the May 2012 expansion and other improvements the resort boasts 322 rooms, the two largest ballrooms in the Napa Valley, four dining options—including Siena Restaurant; the Commons: A Wine Bar,the sports-themed Crush Ultra Lounge with six bowling lanes, an adults-only pool with private cabanas, hillside vineyards; and Estate Cave with luxurious spa, tasting room and event space.