Complex sentence: Loreto (or "Conchó") was the first Spanish town on the Baja California Peninsula, the capital of Las Californias from 1697--1777, and the current seat of the Loreto municipality in Baja California Sur.
Split into simpler sentences: Loreto (or Conchó) was the first Spanish settlement on the Baja California Peninsula. It served as the capital of Las Californias from 1697 to 1777, and is the current seat of the municipality of Loreto in the Mexican state of Baja California Sur.