Sahara Sold to California Businessmen

A Hollywood filmmaker, restaurateur and nightclub owner bought an old Moroccan-themed Sahara, the review-journal reported on Friday night.

Sam Nazarian agreed to purchase the Sahara Desert from the family of the late casino pioneer William Bennett through the Los Angeles-based SBE Entertainment Group.

The purchase price was not disclosed, but sources said the deal was between $300 million and $400 million for Streep's 17.45-acre parcel, which includes a 1,720-room hotel casino.

SBE Entertainment and Stockbridge Real Estate Funds signed the deal on Friday, said John Knott, vice president of global gaming groups at CB Richard Ellis, which retained the company to sell Sahara last year.

"They have some great renovation plans for the Sahara Desert, which has made them very attractive buyers," said Knott.

Najarian, who has a restaurant business, trendy nightclub operations, hotel groups, real estate operations and Hollywood production companies, was named the youngest executive in the "100 Most Influential People in Southern California" by the Los Angeles Times Sunday newspaper West last year.

In addition to several Los Angeles-area nightclubs, Nazarian's hotel division includes Ritz Plaza in Miami's South Beach area and Le Meridian in Beverly Hills, California.

Nazarian is also partnered with Element Films, an independent production company that has nine film distribution contracts with Lionsgate. He is listed as an executive producer on "Mr. Brooks," which stars Kevin Costner, Demi Moore, and William Hurt and is scheduled for release this year.

Nazarian could not be reached for comment, but in an email exchange with Bloomberg Communications Services, SBE spokesperson Michael Dornoff said: "We have not yet finalized our redevelopment plans. Capital investment, improvement timelines, what will be upgraded, subject changes -- all of which are currently unanswered."

https://www.runarchery.kr/20/