February 26, 2012 |
Two Bunch Palms Resort & Spa, one of the region's oldest mineral water spas, was bought by a show biz consortium for nearly $10 million. Hollywood producers Steve Markoff, Donald Kushner and Elie Samaha bought the rambling 52-room resort in Desert Hot Springs with Westside real estate developer Gidi Cohen. The new owners said they will immediately begin an upgrade of the 270-acre property. “We are laying the groundwork for major renovations throughout the resort, including a joint venture with a widely successful spa operator and expansion to include stand-alone 3,000-square-foot villas, senior housing and a private postoperative surgery rehab facility,” Cohen said.
February 27, 2012 |
A large residential complex in Santa Clarita's town center with a mix of apartments and condominiums has been sold for $56.65 million to Los Angeles real estate investors. Decron Properties Corp. bought Madison at Town Center, which in real estate parlance is a "broken condo" complex where some of the units are owned and others are rented. Mixed ownership at the Madison occurred when owners attempted to convert the upscale apartment complex to condos during the last real estate boom.
November 14, 2007 |
Several children of Ray Charles are singing the blues over a new musical at the Pasadena Playhouse about the legendary entertainer. An attorney for Charles' relatives said they are upset that "Ray Charles Live! A New Musical," which opened to mixed reviews last week, highlights Charles' infidelity and casts a negative light on his life. "Everybody is pretty outraged," said Mary Anne den Bok, who is representing his children.
October 27, 1987 |
Last New Year's Eve, Jules Huppert was sitting alone in his Encino office. Three years had passed since he had taken over as president of Valley State Bank, and there was little to celebrate. Valley State had charged off $3.7 million in bad loans over the past three years, a high figure for a bank with only $100 million in assets. The bank was also in trouble with the Federal Deposit Insurance Corp. for failing to disclose certain fees it charged borrowers.