REAL ESTATE
Compiled by Debora Vrana, Times correspondent
Not Much Fun: The Balboa Fun Zone, with its Ferris wheel and carousel, is on the auction block again. This time for about $4.5 million to $5 million--less than half the $10.1 million Japanese investors paid in August, 1988, said Sandra Quilty, president of Commercial Center Management Inc., a property manager in Santa Ana.
The Fun Zone, located on the Balboa Peninsula, was placed in receivership in March, 1992, after Doo & Sons Inc., the Japanese owners, were unable to renegotiate a loan with the original lender.
