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Newhall Land

CALIFORNIA | LOCAL
October 24, 2000
Newhall Land and Farming Co., Valencia, reported a net loss of $612,000 for the third quarter ended Sept. 30, compared to net income of $11.9 million for the same period last year. Revenue dropped to $46.5 million from $73.2 million. Newhall Land plans and develops communities in north Los Angeles County, including the town of Valencia.
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CALIFORNIA | LOCAL
October 3, 2000
Newhall Land & Farming Co., Valencia, said it has divested its 50.1% interest in a joint venture relationship with Kaufman & Broad of Southern California Inc. to develop City Ranch in Palmdale. Newhall Land's initial investment in the 1,900-acre, 4,500-home project was $16 million, including $4 million in cash and a $12-million note payable to Kaufman & Broad. A loss of about $4.5 million will be recorded in the third quarter of this year.
BUSINESS
September 30, 2000 | JESUS SANCHEZ
Newhall Land & Farming Co. said it has terminated its partnership with Kaufman & Broad Home Corp. to develop the 1,900-acre City Ranch development in the Antelope Valley. The breakup will result in a $4.5-million loss that Newhall Land will record in its third-quarter earnings period. Newhall Land, which developed the planned community of Valencia, said it pulled out of the project to focus its financial resources on repurchasing its partnership units.
BUSINESS
August 29, 2000 | From Times Wire and Staff Reports
Newhall Land & Farming Co. said Monday that the sale of its Valencia Town Center and adjacent retail property has fallen through because of the recent bankruptcy filing of Edwards Theatres Circuit Inc., which operates 22 movie screens at the shopping complex. The canceled sale will delay until next year the completion of Newhall Land's planned repurchase of its partnership units.
BUSINESS
August 23, 2000 | JESUS SANCHEZ, TIMES STAFF WRITER
Newhall Land & Farming Co. has agreed to sell the Valencia Town Center mall--the shopping hub of the booming Santa Clarita Valley--and nearby retail property to RREEF, a Chicago-based real estate investment firm. Newhall Land officials said the real estate company anticipates closing escrow on the sale of the 800,000-square-foot enclosed mall and adjacent property on newly built Town Center Drive by the end of September.
CALIFORNIA | LOCAL
July 25, 2000
Newhall Land & Farming Co. of Valencia reported net income of $6.3 million for the second quarter that ended June 30, down from $12.7 million for the same period last year. Revenues also dipped to $55.3 million from $63 million. Newhall Land is a large landowner and developer of master-planned communities in north Los Angeles County, including Valencia and the proposed Newhall Ranch.
CALIFORNIA | LOCAL
May 3, 2000 | ZANTO PEABODY, TIMES STAFF WRITER
Newhall Land & Farming Co. has won a legal battle to develop a 1,700-home community in Valencia, but the environmental groups who brought suit to stop the development say the war over rolling green hills will continue. Los Angeles Superior Court Judge Dzintra Janavs on Monday issued a decision allowing Newhall Land to build Westridge, a golf course community complete with retail stores and an elementary school in the Santa Clarita Valley.
CALIFORNIA | LOCAL
April 25, 2000
Newhall Land & Farming reported net income for the first quarter ended March 31 of $3.2 million compared with net income of $8.3 million for the first quarter of 1999. Revenue dropped to $28.4 million compared with $42.3 million, a decrease resulting from the sale of Cowell Ranch, the company said. Newhall Land develops master-planned communities in north Los Angeles County, primarily in Valencia. The Newhall Ranch project was approved by the county in 1999.
CALIFORNIA | LOCAL
March 31, 2000 | JOHNATHON E. BRIGGS, TIMES STAFF WRITER
After four weeks of deliberation, a Los Angeles County Superior Court jury awarded nearly $8 million Thursday to a group of homeowners and an insurance company who sued a developer alleging that shoddy construction made Santa Clarita homes susceptible to damage in the 1994 Northridge earthquake. In a 12-0 verdict, the jury found that defects in condominiums constructed by Newhall Land & Farming Co. were brought to the fore by the 1994 earthquake.
CALIFORNIA | LOCAL
March 15, 2000 | By TRACI ISAACS,
About 100 residents descended on Fillmore City Hall on Tuesday to protest the city's recent settlement of a lawsuit against Newhall Land & Farming Co. Residents blasted city officials for accepting $300,000 from Newhall Land to offset traffic impacts in exchange for dropping out of a lawsuit by Ventura County against the company's proposed housing development.
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