Colony Capital

Troubled film financier David Bergstein has sued the owners of Miramax, alleging that they denied him money and an equity stake owed for his role in the acquisition of the film label from Walt Disney Co. in 2010. The suit, filed Monday in Los Angeles Superior Court by the law firm Weingarten Brown, contends that Bergstein — who has been involved in dozens of lawsuits, many related to his activities in the film business — played a crucial role in the deal to acquire Miramax. It asserts that Santa Monica private equity firm Colony Capital, one of Miramax's new owners, and its principal Richard Nanula conspired to deny Bergstein a $6.1-million fee and 3.3% stake they agreed to provide him as part of the purchase.

Stanley Gold and Leo Hindery, the leaders of the two Dodgers bid groups rejected by Major League Baseball, will appeal to a court-appointed mediator, two people familiar with the process said Thursday. Joseph Farnan, the mediator overseeing the sale of the Dodgers for the U.S. Bankruptcy Court, is scheduled to hear from Gold and Hindery on Monday, the people said. Farnan is expected to rule Tuesday. The 30 major league owners are expected to vote to approve or reject all remaining bidders next Thursday or Friday.

Stanley Gold and the family of the late Roy Disney were reinstated to the Dodgers bidding Monday, leaving five parties in contention to buy the team. The decision was disclosed by two people familiar with the sale process but not authorized to comment. The Gold/Disney bid had been rejected last week by a committee of Major League Baseball owners, amid concerns over the structure of an offer that included private equity financing to back the launch of a regional sports network.

Kelly Hamon recently beat out several other home shoppers for a cream-colored North Hollywood home. But the victory came at a steep cost. Frustrated after getting outbid five times by all-cash buyers, Hamon ultimately bid $47,000 more than the asking price. She pursued the home so aggressively, she said, out of fear that the days of low interest rates and affordable prices would soon vanish. "I got really scared," Hamon said. "I got scared that everything was going up. " The once-in-a-lifetime mentality, fueled by a shortage of for-sale homes, is driving the Los Angeles area from recovery to frenzy, according to real estate agents and experts.

Tom Barrack's Colony Capital is taking a big step into foreclosures. The Santa Monica real estate investment firm won an auction by the federal government to purchase 970 foreclosed homes in California, Arizona and Nevada from mortgage titan Fannie Mae for $176 million. Barrack, owner of Colony Capital in Santa Monica, has had his name associated as a contender for several high-profile deals this year.  He tried unsuccessfully to buy the Dodgers and he is considered a potential bidder for Anschutz Entertainment Group, better known as AEG, the Los Angeles sports and entertainment giant behind Staples Center and L.A. Live.

The Anschutz Co. expects its sports and entertainment empire to sell for at least $5 billion, two people familiar with the sale process told the Los Angeles Times. The so-called "bid books" for the AEG sale have not been distributed to potential investors, said the people, neither of whom was authorized to comment publicly. The book lists the assets for sale and provides confidential financial information about them. A sale is not expected to be completed until next year. Colony Capital, a Santa Monica-based real estate investment firm, is interested in exploring a bid for AEG, a person familiar with the process said Wednesday.

Two affiliates of buyout firm Colony Capital of Los Angeles have terminated their previously announced plan to buy casino operator Pinnacle Entertainment Inc. in a deal valued at about $1.3 billion. Glendale-based Pinnacle said the parties involved, which had previously agreed on a Jan. 31 extension of their deadline to close the deal, "mutually agreed that the merger agreement and all related transaction documents have been terminated."

Donald Trump has found a partner to help rescue Castle Casino Resort, his poorest-performing casino property. Los Angeles-based real estate investment trust Colony Capital Inc. will invest $125 million for a 51% equity interest in the 728-room Atlantic City casino-hotel. Trump plans to use the proceeds to redecorate and double the number of rooms. The deal comes five months after Trump sold the casino to Trump Hotels for about $485.6 million, which some investors said was too much.

Colony Capital Inc. said it raised $1 billion for a new real estate investment fund, the latest in a string of funds formed in recent months to take advantage of a hot property market. Los Angeles-based Colony, one of the nation's largest private real estate investors, said the fund, called Colony Investors III LP, will invest in U.S. and international properties, and public and closely held companies. Investors in the new Colony fund include 40 of the largest U.S.