Ed Bedford 12:30 p.m., April 16
Tracking the Union-Tribune Deal: Five parcels sold for a total of $51.2 million
Just how much in a hurry was David Copley to unload the Union-Tribune? The close of the sale to a Delaware affiliate of Beverly Hills Platinum Equity was announced Monday. Deeds showing the transfer of five real estate parcels were recorded that day at the county Recorder’s office, and they may furnish a clue:
The 13.08 acre complex housing the newspaper’s main offices and printing plant at 350 Camino de la Reina in Mission Valley went for $35.5 million, based on full-value transfer tax records furnished this morning by the county. The parcel’s current value on county property tax rolls is $91,288,365.
Property with the address of 5258-60 Anna Avenue was sold to San Diego Union Tribune LLC, the Platinum affiliate, for $6.5 million. Tax rolls value it at $6,997,060.
Property with the address of 7701 Herschel Ave was sold for $4.75 million to another Delaware limited liability company, 7701 Herschel Ave, LLC. It’s currently listed on the tax rolls at $4.867 million.
The property is at the corner of Herschel and Kline Street in La Jolla on the opposite end of the block where the Copley Newspapers headquarters is located at Silverado and Ivanhoe.
Property at 1152 Armorlite Drive sold to Armorlite Drive LLC for $2.75 million, according to transfer tax records information by the county. Tax rolls list it at $4 million. The company shares the Platinum Equity address in Beverly Hills.
Property at 5130 Avenida Encinas in Carlsbad went for $1.7 million to San Diego Union Tribune LLC. It is currently on the rolls at $2.12 million.
Total value of the five sales is $51.2 million