REAL ESTATE
Claremont McKenna College Buys Stake in Irvine Co. In an unusual investment move, the small private liberal arts school near Pomona has purchased a $5-million stake in the Irvine Co., one of Southern California’s largest landowners. Earlier this year, in a confidential prospectus sent to selected investors, Howard P. Marguleas, an Irvine Co. director since 1977, said he was selling his 5.05% minority stake in the privately held company--shares for which he is seeking about $94 million. The Claremont McKenna College purchase represents just over 5% of Marguleas’ stake.
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