Newport Beach real estate developer Don Koll and Leon Black of New York-based Apollo Real Estate Advisors have made an unsolicited offer to invest approximately $180 million in Arcadia-based Santa Anita Cos.
The Arcadia Business Association has requested a moratorium on beauty and nail shop in the downtown business district. There are reportedly 16 salons downtown and another 8 more on First Avenue south of California.
Upland-based Lewis Homes is in escrow to buy the old Foulger Ford site on Huntington Drive. Preliminary plans include a supermarket and two smaller retail spaces.
Rubbermaid Inc. announced that it has acquired Arcadia-based Decor Concepts, Inc., better known as Omni. Omni, which designs and manufactures commercial playground equipment, produces about $30 million in annual revenues.
Arcadia-based Software Technologies Corp. is introducing a new computer software product that allows hospitals and other health-care networks to access medical and patient information via the Internet.
After three tries, the Arcadia City Council agreed to appoint Peter Ulrich, an Arcadia Beautiful Commissioner and a real estate consultant, as the newest member of the panel.
More than 30 years later, USC professor pays off debt. Real estate broker David Hyun and his former student at USC Marshall School of Business, Frank Gangi, president of Gangi Development, are having Peking duck together, which Hyun promised his business students if they made $1 million within 5 years of graduation. Frank Gangi was in Hyun's real estate development class in 1984. Hyun is an Arcadia resident, architect, and real estate broker.
A Los Angeles-based investment firm will infuse the Santa Anita Cos. with $138.3 million to transform the race track and shopping mall business into a broad-based sports, leisure and entertainment company.
Threatened with a law suit, Arcadia may relax an ordinance governing adult business, clearing the way for an all-nude striptease club proposed for an industrial area.
Ruixue "Serena" Shi, 36, of Arcadia, was arrested for allegedly swindling more than $20 million that was solicited for funding a condominium and hotel complex called Hyde Resorts and Residences in Coachella Valley. Shi was president and owner of Global House Buyer (GHB), a China-based real estate development company, and also was CEO of the Beverly Hills-based company Hyde Morgan Development, LLC.
Upland resident Rick Gomez, 41, has been appointed to the position of deputy City Manager and Development Services Director. Gomez has worked for 18 years in municipal government for Rancho Cucamonga, Lewis Homes of California and FORMA, a planning consulting firm.
City Council approved closing First Avenue between Alta and California Streets from 6 AM to 1 PM on Saturdays from April 18 through Oct. 31. for a Farmer's Market.