REAL ESTATE
Compiled by Michael Flagg, Times staff writer
On the Block: And CB Commercial--formerly Coldwell Banker’s commercial real estate brokerage--said it has been hired to sell the Two Bunch Palms Resort and Spa in Desert Hot Springs, an expensive resort frequented by the wealthy and reputed to have once hosted Chicago gangster Al Capone. The asking price is $11.5 million.
The resort has 44 villas and cottages, a hot mineral grotto pool, a spa, mountain views and grounds that include a lake. Donald W. Wise, a Coldwell broker from Newport Beach who is handling the property, says that although the resort doesn’t have a golf course, it does have 250 acres and room to build one.
