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The Real Deal | Los Angeles Real Estate News – The 650-acre Malibu Golf Club sells in receivership for $30.5M

The Malibu Golf Club, which went bankrupt for a second time last year, has sold in a receivership sale for $30.5 million. The 18-hole property on a 650-acre site at 901 Encinal Canyon Road, nestled in the Santa Monica Mountains Recreational Area, sold to Shinhan Golden Faith International Development Limited, a holding company with major shares held by M.O. Company of Beijing, according to the Panama Papers. The site is fully entitled for future development as a health and wellness golf institute, according to Fred Cordova of Kennedy Wilson, who represented the property’s court appointed receiver, Trigild CEO Bill Hoffman, in the receivership sale. >>> Read More