Maxxam Enterprises Sells Two Properties for $30M

BEVERLY HILLS, CA—Maxxam Enterprises, a privately held commercial real estate investment firm based here, has sold two properties in its Southern California portfolio: the mixed-use Stanford Center, located at the prime corner of Stanford Avenue and 10th Street in Downtown Los Angeles; and a 1.5-acre development site located at 627 Deep Valley Drive in the exclusive Rolling Hills Estates.

The fully entitled development site in Rolling Hills Estates, a highly affluent community in the South Bay area, sold for $6.4 million to Anastasi Development Company LLC, a residential developer based in Torrance, CA.  The property is entitled for a mixed-use development consisting of 58 residential units and approximately 6,000-square-feet of ground-floor retail.