Biz News: Newport Beach restaurant opens new lounge

Red O Restaurant in Newport Beach recently unveiled its new O Lounge.

The Fashion Island establishment, which opened in 2013, created the lounge by revamping its patio space.

In a news release, designer Martyn Lawrence Bullard said his work is intended to feel “like a palatial villa in San Miguel de Allende — a vacation home during the last century to many Mexican aristocrats and moguls, and today is filled with artists and artisans from around the globe. A little Moroccan nod was added also to up the sexy factor, especially with the lighting, which at night creates a magical ambiance.”

The restaurant is at 143 Newport Center Drive.

Designer teams up with Pacific Sotheby’s

Newport Beach-based Pacific Sotheby’s International Realty and interior designer Barclay Butera, also based in Newport, have launched a new collaboration, according to a news release.

“This idea was a long-term dream for us,” Steve Games, Pacific Sotheby’s chief executive and managing partner, said in a statement. “Uniting our firms allows us to introduce new concepts and creativity into the home sales market, adding value to our customers and, at the same time, strengthening our brand and market share.”

Costa Mesa financial firm acquired

Costa Mesa-based Jackson Financial Management was recently acquired by Denver-based Mercer Global Advisors, according to a news release.

Terms of the transaction were not disclosed.

Mercer, which has an office in Newport Beach, obtained about $510 million in Jackson client assets under management, Financial Advisor reported.

Jackson was founded in 1995.

Company with Newport Beach ties begins construction on Santa Ana project

Primior, a real estate development and investment management firm with a branch in Newport Beach, recently broke ground on a mixed-use development in Santa Ana.

First Harbor Plaza, at the corner of Harbor Boulevard and West First Street, will contain a restaurant, retail space and offices.

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