Geoffrey H. Edmunds & Associates acquires condo tower

Submitted by Bill Rams

Geoffrey Edmunds & Associates has acquired 100-percent ownership of the exclusive luxury condominium tower 3000 The Plaza, officials announced today.

Edmunds was a partner with Opus West in the previous ownership structure. After Opus filed for Chapter 11 bankruptcy protection last month, Edmunds decided to pursue sole ownership to complete the sellout of the 105-home project.

3000 The Plaza has already sold 50 homes and has 10 more in escrow. It is the third and final phase of a successful three-tower luxury condominium project on Jamboree Road in Irvine. Edmunds was also a partner in the first two phases, which have sold out.

“I’ve been in business for more than 35 years,” said Geoffrey Edmunds, founder of the Scottsdale-based developer. “And I’ve finished every project I’ve started. 3000 The Plaza is special; it’s one of the finest housing opportunities I’ve ever been associated with. There will always be demand for high quality housing in premier locations such as Irvine.”

Financial details of the acquisition were not disclosed.

The deal is the latest piece of good news for the region’s embattled housing market, which is showing renewed signs of life. Edmunds said the project’s appealing location, luxury amenities such as Orange County’s first rooftop pool and unique lifestyle opportunities persuaded him to invest his own capital to rescue the project from a likely foreclosure.

“It’s important that residents and prospective buyers know that we are maintaining the overall health and quality of the project - and we are moving forward with the sale of the remaining homes,” Edmunds said.

The acquisition allows “us to close escrow on the 10 units already under contract,” Edmunds said. The remaining homes are available for purchase; prices start in the $600,000s.

News of the acquisition was embraced by residents and nearby retailers.

“We are thrilled to hear that Mr. Edmunds stepped forward to purchase 3000 The Plaza,” said resident Wayne Diaz. “Living here is a dream - it’s suburban Orange County but has a dynamic vibe.”

Added Tom Phan, one of the principals of Phans55, a casual upscale Vietnamese restaurant that uses only natural meat and embraces the green movement. “This is an outstanding location to do business, and the new ownership structure enhances our ability to draw new customers by providing a sense of stability for current and future homeowners.”

The tower features some of the most spectacular views in the region. It also offers a concierge office, a fitness club, on-site retail, and other services and amenities. The project features 12 floor plans, ranging from 1,375 to 3,025 square feet. Each home is appointed with Viking appliances, Snaidero cabinets, polished granite and floor-to-ceilings windows.

“This project underwent a very thorough, research planning process,” Edmunds said. “Once sales are complete, I am certain it will be seen as one of the premier addresses in Southern California.”

For more, visit: https://www.3000theplaza.com/