April 18, 2000 |
Casino owner and card club operator Pinnacle Entertainment Inc. on Monday agreed to be acquired by the parent of Harveys Casino Resorts in a $675-million stock deal, completing negotiations that began last month. The agreement caps nearly a year of deal-making in which Glendale-based Pinnacle, formerly Hollywood Park Inc., sold or agreed to sell its thoroughbred horse-racing tracks in Los Angeles and Arizona, as well as two Mississippi casinos, to focus on core gambling operations.
October 14, 1999 |
Kennedy-Wilson Inc. said it bought $250 million of nonperforming Japanese property loans for less than 10 cents on the dollar as it continues to scour the country for real estate bargains. The purchase brings to more than $1 billion the face value of Japanese loans that the Beverly Hills-based property management and investment firm has bought in the last 12 months. Japanese banks are writing off delinquent real estate loans made in the late 1980s.
July 21, 1998 |
Santa Monica-based real estate marketing company Kennedy-Wilson Inc. has completed its acquisition of major property management firm Heitman Properties Ltd. from Chicago real estate investment giant Heitman Financial Ltd. The merging of the Beverly Hills-based Heitman Properties operation into Kennedy-Wilson's smaller property management group creates Kennedy-Wilson Properties Ltd.
December 15, 2000 |
Pinnacle Entertainment Inc. shares fell 28% after the company said Thursday that its $1.28-billion sale to rival gaming company Harveys Casino Resorts is being delayed because of turmoil in the debt markets. Pinnacle shares fell $6.06 to close at $15.31 on the New York Stock Exchange, after trading as low as $14.25. The companies, in separate statements released by PRNewswire, said the purchase isn't terminated, though there can be no assurance a transaction will be completed.
March 28, 1997 |
Just when it looked like Santa Anita Cos. was about to trot into the stables of an investor group that includes Newport Beach real estate mogul Donald Koll and financier Leon Black, it's become a horse race again: Santa Anita Cos. announced Thursday that it has received other proposals.
June 13, 2000 |
An estimated 500 people gathered last week in downtown Los Angeles to hear how changes in technology and the economy are shaping Southern California's real estate market. Speakers and panelists at the Trends 2000 Conference warned of problems posed by shortages of available land, affordable housing and urban sprawl. "We can craft a better future but we better move now," said Jack Kyser, chief economist at the Los Angeles Economic Development Corp.
April 8, 1994 |
A Japanese company is seeking to sell the Hotel Bel-Air in West Los Angeles, acquired for more than $100 million in the late 1980s during a Japanese buying spree of well-known American properties, a financier said here Thursday. If the sale goes through, it would mark the latest Japanese retreat from spectacular real estate purchases made in those years. The Japanese tycoon who bought the Pebble Beach golf resort in 1990 was thought to have lost $340 million when he sold it in 1992.
April 14, 1997 |
Santa Anita Cos., owner of the landmark Arcadia racetrack, said Sunday that it agreed to merge with Meditrust, a health-care real estate investment trust, in a deal valued at about $383 million. Santa Anita Chairman William Baker said the deal would allow the track to continue operating as a racing facility.
March 29, 1997 |
The tortuous chase for control of Santa Anita Cos. took another wide turn Friday when the only bidding group with a publicly announced offer said it has pulled out of the contest. The group--consisting of real estate specialists Koll Co. of Newport Beach, Colony Capital Inc. of Los Angeles and Apollo Real Estate Advisors in New York--made good on an ultimatum in which it threatened to withdraw unless it struck a deal with Santa Anita by the close of business Friday.