A Hollywood filmmaker, restaurateur and nightclub owner has bought the Moroccan-themed old Sahara Desert, the Review-Journal reported on Friday night. Sam Nazarian agreed to buy the Sahara Desert from the family of late casino pioneer William Bennett through 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 the 17.45-acre parcel in Streep, which includes a 1,720-room hotel casino. CB Richard Ellis’ vice president of Global Gaming Group, which retained the company to sell Sahara last year, John Knott said SBE Entertainment and Stockbridge Real Estate Funds signed the deal on Friday.
“They have some tremendous renovation plans for the Sahara, which has made them a very attractive buyer,” Knott said. Nazarian, who has a restaurant business, trendy nightclub operations, hotel groups, real estate operations and Hollywood production companies, was the youngest executive to be named among the “100 Most Influential People in Southern California” by the Los Angeles Times Sunday newspaper West last year.
In addition to a few Los Angeles-area nightclubs, Nazarian’s hotel division includes Ritz Plaza in Miami’s South Beach neighborhood and Le Meridian in Beverly Hills, California. Nazarian is also a partner with Element Films, an independent production company that has nine film distribution deals with Lionsgate. He is listed as the executive producer of “Mr. Brooks,” which stars Kevin Costner, Demi Moore, and William Hurt and is slated for release this year. 슬롯머신
Nazarian could not be reached for comment, but in an email exchange with Bloomberg News services, SBE spokesperson Michael Donov said: “We have not yet finalized our redevelopment plans. Capital investment, the timeline for improvements, what will be upgraded, subject change — all of which are unanswered right now.”
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