Investor Group Recently Claims Control of Laguna Beach Company’s Assets over ongoing business dispute
According to recent reports, at least some of Laguna Beach Company’s tenants, which includes Hotel Laguna, were sent letters indicating a change in ownership and property management.
One such letter, sent to tenants of the Hive and obtained by the Independent, stated, “Effective as of the date of this letter, Mohammed Honarkar is no longer acting on behalf of the aforementioned company,” the March 29 letter said. “You should no longer have contact with him or his office, including but not limited to, paying rent to Mr. Honarkar.”
The Hive, located on Laguna Canyon Road, includes tenants such as Laguna Beach Beer Company, Kitchen in the Canyon, Flashman Designs, Prevail, Silver Jeans, McClain Cellars and LCAD’s Virtual Reality and Augmented Reality Departments.
However, as of April 5, a representative from the Laguna Beach Company claims Honarkar still owns Hotel Laguna and other Laguna Beach properties.
“Contrary to some recent claims, Mo Honarkar and the Laguna Beach Company are fully retaining their ownership positions of Hotel Laguna and other local properties,” the Laguna Beach Company wrote in an email to the Independent on Wednesday. “Day-to-day food and beverage management of Hotel Laguna has been temporarily transferred while a business dispute is resolved. In the meantime, Hotel Laguna and the company’s other properties are operating normally and remain open for business to serve the Laguna Beach community.”
Sources say Michael Kluchin, director of operations at Continuum Analytics, a partner of the Hotel Laguna LLC, has requested meetings with the city council and staff to discuss the changes. According to Kluchin’s LinkedIn profile, Continuum Analytics specializes in distressed debt real estate investments.
As of press time, both Kluchin and the City of Laguna Beach have declined to comment. This is a developing story.
As a recent sponsor of this paper, I have to say that I’m disappointed as this is sloppy reporting.
Sloppy how Doug? I thought it was fine. It’s a wonder the paper could get any info out of these “business” people.
I disagree with Doug Vogel’s “sloppy reporting” comment. Thank you Clara Beard for covering this developing story. This is what community reporting is all about. Following up on story tips, asking questions, getting answers and informing the public.
The public awaits more information on this statement too: “a partner of the Hotel Laguna LLC, has requested meetings with the city council and staff to discuss the changes.” Hopefully our City Leaders and Staff will follow-up with constituents as well.
About as sloppy as you so called theater Doug! Get a grip.
Well, I spoke to one of the partners today. They claim to have control, but have changed the managing partner. I’m sure you will find this out soon.
Eric,
Sloppy in reporting without confirming anything. It’s basically a rumor. If the Honarkars are partners of a group, but the group has chosen for Mr. Honarkar to not manage the hotels and other investments at this time, that doesn’t mean that there is a change in ownership. It means there is a change in who is currently managing the properties. This article specifically claims that there is a change in ownership.