Santa Anita REAlty Enterprises has poured more than $78,000 into the campaign to defeat Measure M, the Nov. 5 ballot measure to give voters veto power over the development of an entertainment complex near the company's race track.
The campaign over a controversial ballot measure to restrict development at Santa Anita Park race track is heating up, with two community groups coming out against the initiative and a new group being formed to support it. Measure M requires a majority vote of approval from Arcadia residents for any change in land use requested by Santa Anita.
A grass roots committee has been formed by a group of Arcadia citizens who are in favor of Proposition M. The Arcadians for Sensible Development are urging a "yes" vote.
Santa Anita Realty Enterprises won a long-awaited victory late Wednesday as the City Council tentatively granted a commercial land-use designation for an area that could serve as the site of a major entertainment center.
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.
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 and Meditrust, the nation's largest health-care real estate investment trust, have completed a $383 million deal to merge the two companies.
The Santa Anita Companies and AMC Theatres announced a definitive agreement for AMC to build a 25 screen multiplex adjacent to the Santa Anita Park race track and Fashion Park Mall.
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 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.
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.
The fate of Santa Anita Park remained up in the air following a sudden management shake up at its corporate parent, Meditrust Cos. Meditrust Chairman and CEO Abraham Gosman resigned Tuesday.
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."