Two bidders that had been attempting to take over Santa Anita Companies announced that they are joining forces. If the deal goes through, Koll Arcadia Investors and Colony Capital Inc., would own approximately 70% of Santa Anita's stock.
The Santa Anita Companies are disposing of non-core real estate assets as part of a long-term program which they say will improve cash flow and net income.
The Santa Anita Cos., Monday reaffirmed its commitment to the previously announced strategic alliance with Colony Capital and its affiliates, saying that a rival bid by Newport Beach based Koll Arcadia Investors was "incomplete."
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 Santa Anita Companies and Meditrust, the nation's largest health-care real estate investment trust, have completed a $383 million deal to merge the two companies.
Officials with the Santa Anita Companies, owners of the race track and Santa Anita Fashion Park, have filed a formal application with the City of Arcadia to build a new 100-acre entertainment center on its property.
The Santa Anita Companies was dealt a blow when the State Assembly Appropriations Committee shot down two key bills that would have allowed Santa Anita to begin expansion into the casino industry.
Officials at Santa Anita Companies announced Monday that they have sealed a deal to finance the construction and, if the law changes, become the majority owner in the proposed Irwindale Palace Casino.
Fong out to early lead in election. Democrat Mike Fong garners 70% of first votes, is ahead by 39 percentage points in the 49th Assembly District race against Republican Burton Brink. The 49th District is comprised of 10 San Gabriel Valley cities, including Arcadia. The seat was vacated by Ed Chau-D-Monterey Park, who left his post early for an appointment to the Los Angeles County Superior Court judge's bench.
Vote centers open for San Gabriel Valley's 49th Assembly District special election. Vote centers will remain open from 10 AM to 7 PM every day for in-person voting or to drop off completed vote-by-mail ballots. The seat was vacated by Democrat Edwin Chau or Arcadia when California Governor Gavin Newsom appointed Chau to serve as judge in Los Angeles County Superior Court. Democrat Mike Fong runs against Republican Burton Brink in this race. The 49th Assembly District includes Arcadia, El Monte, Monterey Park, Rosemead, San Gabriel, San Marino, Temple City, and portions of Montebello and South El Monte. See also Arcadia Weekly, p. 3, February 10, 2022.
Democrat Mike Fong and Republican Burton Brink vie for vacant Assembly seat in the 49th Assembly District, which is comprised of 10 San Gabriel Valley cities, including Arcadia. Vote centers are open. The term is through December 5. Biographical information included.