Allstate, CALPers and Wells Fargo Purchase Minority Interest in the Olson Company; Affordable Housing Valued in Excess of $800 Million Now in Project Pipeline.Business Editors SEAL BEACH Seal Beach, city (1990 pop. 25,098), Orange co., S Calif., on the Pacific coast; inc. 1915. It is a beach city with an active art colony. Transportation equipment and concrete are among the city's manufactures. U.S. naval stations are nearby. , Calif.--(BUSINESS WIRE)--Feb. 10, 2000 In one of the most significant real estate transactions of the new century, Allstate, CALPers and Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. have united to purchase a minority interest in The Olson Company, one of the most successful privately-held, affordable homebuilding firms in California. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. The Olson Company Chairman and Chief Executive Officer Stephen E. Olson, the joint stock purchase by the three large real estate investors was completed on Monday, Feb. 7, 2000. Terms of the transactions were not disclosed. &uot;This transaction is the ultimate 'win-win' for everyone involved,&uot; said Olson. &uot;While our management team will benefit from the financial clout and expertise of our new investors, they, in turn, will enjoy expansion into an extremely specialized and often complex urban niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. . Together, we will provide a broad spectrum of services to public jurisdictions seeking innovative and value-based solutions to their affordable housing and redevelopment needs.&uot; Over the past 12 years, The Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time Olson Company has developed a statewide presence working with its city clients to provide a wide range of affordable &uot;for sale&uot; housing in urban areas. Currently, The Olson Company is planning and building 41 different affordable residential neighborhoods, valued at more than $800 million, throughout California. &uot;We are proud to be the recognized leader in structuring public/private partnerships that include the cities of Brea, Huntington Beach Huntington Beach, city (1990 pop. 181,519), Orange co., S Calif., on the Pacific coast, across from Santa Catalina Island, in an oil-producing area; inc. 1909. It manufactures aerospace vehicles, aircraft parts, optical instruments, and heat transfer equipment. , Long Beach, Pasadena, the County of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , the Centre City Development Corporation of San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , and the Northern California East Bay communities of Richmond, Pittsburgh and Hayward -- just to mention a few,&uot; said The Olson Company President Mark Buckland. &uot;As we look toward the next 10 to 20 years, our focus will be on developing relationships that result in the construction of attractive and affordably priced in-town properties for people seeking to live near major employment centers and within proximity of key transportation corridors.&uot; The Olson Company is an award-winning homebuilder of affordable urban housing. Currently marking its 12th anniversary, the Seal Beach-based company is the proud recipient of Professional Builder magazine's 1998 Professional Achievement Award for excellence and innovation in urban housing development. |
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