It was the largest single property owned and sold by theResolution Trust Corp., the agency created by Congress to disposeof the assets of the savings and loan crisis of the early1990s.

Capital Pacific Holdings of Newport Beach, CA, bought themassive property for $55 million from the billionaire IbrahimKhalid family of Saudi Arabia, which bought the land from the RTCin 1993 for $18.5 million.

Gary Hollenbeck, president of Colorado Springs-based PalmerMcAllister Co. Inc., says he expects that this marks the largestland sale anyplace in the country this year. Palmer McAllister wasthe brokerage firm on the deal.

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