Club Laguna: The 421-unit Laguna Beach complex...

Club Laguna: The 421-unit Laguna Beach complex has been sold to an unidentified Midwest pension fund by Amli Residential Properties Trust, a Chicago real estate concern. Amli said the $30-million sale of its sole California property would reduce the outstanding balance on its credit line, freeing the company to pursue “future acquisitions and development activities.” The 7-year-old Club Laguna complex was built by Jennings Operations Inc. of Australia, which sold it to Amli in December, 1993, for $25 million.