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Property Sales

NEWS
April 9, 1997 | DAVID HALDANE, TIMES STAFF WRITER
The project to widen more of the Santa Ana Freeway could clear traffic running through Orange County, but it may clog the courts. While 222 businesses will be partially or completely displaced by the current project, 139, about 63%, have rejected the state's offer to purchase their properties, forcing Caltrans to initiate eminent domain eviction proceedings.
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NEWS
February 10, 1995 | MARK ARAX, TIMES STAFF WRITER
The Boswells and the Salyers, two of the richest and most powerful farming families in America, have ended decades of rivalry and rancor over their San Joaquin Valley empires with a huge land deal in which one colossus will swallow the other. Fred Salyer, 72, has agreed to sell his cotton and grain empire--about 25,000 acres of fertile San Joaquin Valley soil--to J. G. Boswell for tens of millions of dollars, according to business associates and employees.
CALIFORNIA | LOCAL
April 23, 1999 | HUGO MARTIN, TIMES STAFF WRITER
The federal government announced Thursday that it has sold its controlling interest in the Bicycle Club in Bell Gardens, nine years after seizing control because of money laundering at the card club. A partnership that operates a successful card club in Oceanside has agreed to purchase the government's interest for an undisclosed amount and plans to renovate the casino, the second-largest club in the state. The sale is a huge relief to federal officials.
CALIFORNIA | LOCAL
January 27, 1992 | LESLIE EARNEST
Tucked against a hillside on Laguna Canyon Road is the oldest, smallest and, some say, luckiest mobile home park in Laguna Beach. Not much grumbling goes on at Thurston Trailer Park about the lack of a clubhouse, swimming pool or ocean view--niceties available at the city's two other mobile home parks. Instead, Thurston residents, most of whom have incomes low enough to qualify for financial aid, feel pretty fortunate.
CALIFORNIA | LOCAL
October 16, 1997
The City Council has approved the sale of a city-owned property--one of the last open spaces downtown--for development of a two-story commercial building. For more than two years the council has discussed selling the 17,500-square-foot site, which it acquired for $212,000 at the height of the real estate boom nearly a decade ago, said Kenneth Duran, assistant city manager. The property was sold to developer J.B. Construction for $155,000.
BUSINESS
December 1, 1992 | MICHAEL PARRISH, TIMES STAFF WRITER
Atlantic Richfield Co. will sell 146 oil and gas fields in three deals worth a total of $362 million. The fields are in California, New Mexico, Texas and Wyoming. The sales represent most of the small fields in Arco's Western District. Arco will retain the 60 largest fields, containing about 90% of the district's oil and gas reserves. Like other major U.S. oil companies in recent years, Arco has been divesting itself of non-core business assets to increase the efficiency of its operations.
BUSINESS
May 24, 1994 | DAVID G. SAVAGE, TIMES STAFF WRITER
A property's sale price at foreclosure, not its market value, determines its worth in bankruptcy proceedings, the Supreme Court ruled Monday. The 5-4 decision resolves a longstanding dispute in bankruptcy law, and it upholds the existing practice in California. Lawyers for the state's lenders and title insurers applauded the result and said it removes a cloud that could have hung over many recent property sales.
BUSINESS
July 27, 2006 | Roger Vincent, Times Staff Writer
Real estate services company CB Richard Ellis Group Inc. on Wednesday reported a 27% jump in second-quarter profit on strong leasing and sales of commercial buildings across the globe. The company's net income was $64.3 million, or 27 cents a share, compared with $50.4 million, or 22 cents, a year earlier. Revenue for the three-month period that ended June 30 increased 24% to $836.2 million. Excluding one-time items, profit at the El Segundo firm was $79.
BUSINESS
May 16, 2000 | BRAD BERTON, SPECIAL TO THE TIMES
One of the Southland's biggest office property sales formally closed escrow last week, as New York real estate giant Tishman Speyer Properties took title to the MGM Plaza office and retail complex in Santa Monica. As terms of the sale were being finalized more than a month ago, sources told The Times that Tishman Speyer had agreed to pay a group headed by Los Angeles real estate magnate Rob Maguire at least $360 million for the property.
OPINION
March 12, 2013
Re "Tax vote reflects differing realities," March 9 The Times should be wary about printing such an enlightening article, which notes that though voters in less well-off L.A. neighborhoods overwhelmingly supported Proposition A (the failed half-cent sales tax increase on the city ballot last week), those in wealthier areas decisively rejected it. To document the wealthy's disdain for taxes that might help the poor risks banal accusations about fomenting "class warfare. " Readers might draw unjust conclusions about those most vociferously opposed to tax increases for the public good.
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