Bidding for Ziggurat Building Includes Hoag in Wings

The battle for control over the 92-acre Ziggurat property in Laguna Niguel took an unexpected twist — an alleged attempt at collusion by a winning bidder and the awarding of ownership to Hoag Memorial Hospital Presbyterian.

Jeff Pintar of Pintar Investment and Cameron Hildreth of Hilco Development Services plunked down a $17.7 million deposit after winning a federal auction last fall for the 1-million-square-foot Chet Holifield Federal Building at 24000 Avila Road, the Orange County Business Journal reported.

To close the deal, they were supposed to pay the remaining $160 million by April 24.

The losing bidder was Newport Beach-based Hoag, the Business Journal reported.

But on March 10, the U.S. General Services Administration awarded ownership to Hoag, per another report in the Business Journal. On Wednesday, Hilco vowed to fight the decision.

In November Hoag filed a lawsuit in against the GSA, alleging Pintar violated auction rules by proposing a collusive deal to end the bidding process early. Hoag claimed Pintar asked if they wanted to “work together instead of against each other.”

The hospital refused and later argued that Pintar should have been disqualified.

Despite these allegations, Hoag recently requested the lawsuit’s dismissal, which was granted on March 20. Executives from Hoag, Pintar, and Hilco declined to comment. The GSA has yet to finalize the sale and hasn’t disclosed the buyer’s identity or their plans for the site.

The $177 million purchase price works out to $1.9 million per acre — a bargain compared to nearby land values. Pintar remains confident he will meet the financial deadline.

If he fails, the deposit is forfeited, and GSA could seek alternative buyers — potentially giving Hoag another opportunity.

The competition for healthcare expansion in South County is fierce. Since MemorialCare closed its San Clemente hospital in 2016, providers have raced to fill the void. Providence Mission is investing $712 million in new facilities, while Hoag is spending $1 billion on Irvine expansions and $20 million on a new 20,000-square-foot health center in San Clemente, set to open in July.

Hoag aims to have a healthcare facility within 10 minutes of every Orange County household, making the Ziggurat property a strategic acquisition. The hospital’s chairperson, Robert Brunswick, is co-founder of Buchanan Partners, a major real estate investment firm.

The five-month bidding war for the Ziggurat began at $70 million in June, with 157 bids submitted before Pintar’s final offer.

If Pintar and Hildreth proceed with their acquisition, they plan a mixed-use redevelopment featuring office, residential and retail space, potentially including a hospital with the right partner. If their bid falters, Hoag may still have a shot at securing the prime real estate.

— Dana Bartholomew

Update: The story was edited to reflect that Hoag Memorial Hospital Presbyterian was awarded ownership of the Ziggurat facility.