REAL ESTATE
From Times Staff and Wire Reports
Santa Anita Cos. Plans Real Estate Trust: The investment trust and racetrack operator said it will spin off apartments and industrial properties into a new real estate trust and raise at least $60 million through public sales of common shares. It said the money will be used to pay debts and make new property investments in California and Texas. Stock in Santa Anita Realty Enterprises and Santa Anita Operating Co., which runs the horse-racing track in Arcadia, are traded on a paired basis on the NYSE.
