Irvine Developer Files for $250-Million Public Offering

Irvine Apartment Communities said Monday that it has filed a so-called shelf registration for a public offering of up to $250 million worth of common stock, preferred stock, debt securities and other securities. A shelf registration allows securities to be sold from time to time over a two-year period.

Executives at Irvine Apartment Communities, the publicly traded arm of Irvine Co., Orange County’s largest landowner and the exclusive developer of the 90-square-mile Irvine Ranch, said the company would use proceeds from any offering for general corporate purposes, including the development of new apartment communities and the repayment of debt.