Donald Trump’s $27-million purchase of Ocean Trails Golf Course in Rancho Palos Verdes closed Tuesday, the real estate mogul said.
Trump may spend as much as $30 million upgrading the course before opening it in the second half of 2003. He said he will announce his plans for the makeover within two weeks.
The New York-based developer said he is torn between making Ocean Trails an exclusive private golf club or a high-end public course. Deed restrictions call for it to be open to the public.
The property also includes land zoned for as many as 75 homes.