Two Los Angeles-based real estate partnerships are...
Two Los Angeles-based real estate partnerships are buying Rancho Sespe, the largest parcel of land in Ventura County, for $20 million. The partnerships, Sespe East and Sespe West, bought the property, the hide-out of Mexican bandit Joaquin Murietta 150 years ago, from Newport Beach Development Co., a consortium of San Joaquin Valley investors. Under terms of the agreement, the buyers will continue to lease the 4,249-acre Rancho Sespe to Rivcom Corp., a wholly owned subsidiary of Riverbend International Corp., an agricultural food company.
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