Spotlight: Apollo Group Raises Stake in Santa Anita
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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.
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