The city of Dana Point and Chamber of Commerce named Lantern Bay Realty as the June 2013 business of the month. Pictured (L to R) Lantern Bay President Mike Lovullo, CEO Joe Lovullo, Mayor Steven Weinberg and CFO Tim Johnson. Photo by Andrea Papagianis
The city of Dana Point and Chamber of Commerce named Lantern Bay Realty as the June 2013 business of the month. Pictured (L to R) Lantern Bay President Mike Lovullo, CEO Joe Lovullo, Mayor Steven Weinberg and CFO Tim Johnson. Photo by Andrea Papagianis

Compiled by Robert Sedita, Management Analyst, Dana Point Community Development

Lantern Bay Realty has been a trusted name in southern Orange County for 40 years and is the oldest, largest and most successful independent real estate brokerage in Dana Point. The business originally began as Anchorage Investments, and was started after Joe Lovullo retired from the U.S. Marine Corps.

Lantern Bay Realty was originally situated next to a Tarbell Real Estate office that only specialized in single family homes, who would tell all their non-single family home customers to go next door to see Mr. Lovullo. Soon, everyone was going next door. Tarbell closed and Mr. Lovullo expanded and took over the space. Soon after, Anchorage Investments spun off from its parent company when the Lantern Bay community was formed and the company became Lantern Bay Realty.

The realty company was originally formed to provide exclusive real estate brokerage services for Pacific Mutual and Smyth Brothers development of Lantern Bay Villas and Lantern Bay Estates overlooking the Dana Point Harbor. The entire Lantern Bay area includes 112 condo villas, 46 home sites, Lantern Bay Plaza and the area where the Laguna Cliffs Marriott Resort and Spa resides.

In addition to the Lantern Bay properties, Lantern Bay Realty has worked with a number of other projects in the city including a 46-condo project on Pacific Coast Highway, Harbor Walk—a 26-unit condo complex—and affordable housing sites throughout Dana Point. Lantern Bay Realty has had a hand in shaping the way the Dana Point community looks and feels throughout the past several decades.

The realty company specializes in coastal properties, while also offering residential, commercial and retail services and property management opportunities. Agents assist clients through every step of the transaction, and its top quality customer service has led to a stellar reputation and continuing success for the business. Focusing on honesty and integrity enables Joe Lovullo and his team to serve their customers in the best possible way.

Lantern Bay Realty has been highly involved in the community since its formation. When Lantern Bay Realty moved to its new office, their original space building was donated to the Ocean Institute. The building was picked up and relocated to the Harbor adjacent to the Ocean Institute and is used as offices for the Institute’s staff. Lantern Bay Realty also supports a variety of local organizations including Toys for Tots, the Dana Point 5th Marine Regiment Support Group, the American Cancer Society, the Ocean Institute and the Dana Point Historical Society, to name a few. In addition, Tim Johnson, the company’s CFO, founded the local Lord of the Strings concert series.

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