Spotlight: Apollo Group Raises Stake in Santa Anita

Apollo Real Estate Advisors II, an investment group that includes financier Leon Black and Newport Beach real estate mogul Donald Koll, raised its stake in Santa Anita Cos. to 8.5% from 7%. Santa Anita, which owns and operates the Santa Anita racetrack, is actually two enterprises whose shares are “paired” on the NYSE. Apollo, which last month offered to buy a 55% of Santa Anita, purchased 163,400 paired shares at $19.50 to $25.28 each. Santa Anita lost 12.5 cents to close at $26.25.