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December 08, 1992|From Times Staff and Wire Reports

Group Agrees to Buy Santa Monica Beach Hotel: A group headed by hoteliers Edward and Thomas Slatkin and an affiliate of investment banker Goldman Sachs & Co. agreed to purchase the partially completed Santa Monica Beach Hotel for $18.75 million from a group of investors led by Los Angeles developer Sam Stein. The Slatkin and Goldman Sachs group said it would complete the 198-room beachfront hotel, which fell into bankruptcy last year, in about eight months.

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