{"id":1004053435,"date":"2011-06-20T10:56:51","date_gmt":"2011-06-20T18:56:51","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=6645"},"modified":"2022-12-07T17:47:23","modified_gmt":"2022-12-08T01:47:23","slug":"legal-dispute-over-o-c-fairgrounds-stalls-sale-kennedy-wilson-buys-office-properties","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/legal-dispute-over-o-c-fairgrounds-stalls-sale-kennedy-wilson-buys-office-properties\/","title":{"rendered":"Legal Dispute Over O.C. Fairgrounds Stalls Sale; Kennedy Wilson Buys Office Properties"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>If Southern California seemed like it was lacking a good legal drama, the real estate sector stepped up to the plate recently with the state appeals court\u2019s ruling on the sale process for the Orange County Fairgrounds. The sale&#8211;which would have totaled $100 million, including a $20 million down payment and a 35-year note&#8211;was ruled as flawed, with a full redo ordered if it were to be completed. The buyer, Facilities Management West, is currently considering challenging the ruling, according to a <em>Los Angeles Business<\/em> story.<\/p>\n<p>The sale is based on former Gov. Arnold Schwarzenegger\u2019s proposed plan to alleviate the pressure on the budget deficit. The fairgrounds were targeted to bring a consistent sum to aid the state\u2019s financial issues. However, the property\u2019s sale has been officially contested by assemblyman Jose Solorio, a representative from Anaheim who is also pushing legislation to maintain the grounds under public ownership.<\/p>\n<p>While that deal is in flux, real estate investment firm Kennedy Wilson made headlines with the acquisition of approximately 700,000 square feet of space, according to <em>Los Angeles Business<\/em>. The five office buildings total $143.5 million, bringing assets under management to a total of $9.8 billion. The first of the five transactions entailed was finalized on June 15, with the remaining deals set for completion during the following 60 days. Locations for the buildings include Beverly Hills, the Miracle Mile and Encino.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor<br \/>\nIf Southern California seemed like it was lacking a good legal drama, the real estate sector stepped up to the plate recently with the state appeals court\u2019s ruling on the sale process for the Orange County [&#8230;]<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[],"class_list":["post-1004053435","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Legal Dispute Over O.C. Fairgrounds Stalls Sale; Kennedy Wilson Buys Office Properties - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/legal-dispute-over-o-c-fairgrounds-stalls-sale-kennedy-wilson-buys-office-properties\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Legal Dispute Over O.C. Fairgrounds Stalls Sale; Kennedy Wilson Buys Office Properties\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor If Southern California seemed like it was lacking a good legal drama, the real estate sector stepped up to the plate recently with the state appeals court\u2019s ruling on the sale process for the Orange County [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/legal-dispute-over-o-c-fairgrounds-stalls-sale-kennedy-wilson-buys-office-properties\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-06-20T18:56:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T01:47:23+00:00\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/legal-dispute-over-o-c-fairgrounds-stalls-sale-kennedy-wilson-buys-office-properties\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/legal-dispute-over-o-c-fairgrounds-stalls-sale-kennedy-wilson-buys-office-properties\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Legal Dispute Over O.C. 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