Walt Disney Co. completed the $400-million sale...

Walt Disney Co. completed the $400-million sale of the real estate assets of Arvida Corp., Boca Raton, Fla., a developer of land and planned communities, that the Burbank entertainment giant acquired in 1984. The buyer is an affiliate of JMB Realty of Chicago. The sale does not include about 28,000 acres near Walt Disney World in Florida. Roger Hall, a 13-year Arvida executive, was named president by the new owner, which said a “significant” number of Arvida’s former executives will hold key positions.