Once listed for $1 billion, a 157-acre parcel of land in Beverly Hills known as the Mountain has sold at a foreclosure auction for far less
Once listed for $1 billion, a 157-acre parcel of land in Beverly Hills known as the Mountain has sold at a foreclosure auction to its lender for just $100,000.
An entity linked to the Mark Hughes Trust, a trust established to manage the assets of the late Herbalife founder Mark Hughes, won the property Tuesday at a trustee’s sale in Pomona, Calif., said Ronald Richards, an attorney for one of the former owners, Secured Capital Partners. The $100,000 price was far less than the roughly $200 million in debt the lenders had alleged...
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