High-End Real Estate Agent McMonigle to Join Teles Properties' Newport Office

John McMonigle, the high-end real estate agent facing financial problems, and his team will join Teles Properties' Orange County office in Newport Beach, according to a press release.

Based in Los Angeles, Teles deals in luxury properties.

“This is a terrific opportunity for first and foremost our Orange County clients and agents,” McMonigle said in the release. “I have a vision for the next 10 years to take our name, agents and talents to new heights and will empower the next generation of ethical and super agents to thrive during these challenging times with Teles.”

McMonigle, whose McMonigle Group is based in Newport, in April, according to reports. Last month, of One Pelican Hill North LP, a partnership that owns a $37 million mansion in Newport Coast, and that group filed for bankruptcy, according to reports.