A 32-acre property formerly owned by hotel developer Doug Manchester has been sold for $35 million, setting a new record for La Jolla's real estate market.
A 32-acre property in La Jolla , California, formerly owned by hotel developer Doug Manchester, has sold for $35 million, marking the largest real estate transaction in the area's history. The property at 7007 Country Club Dr. was purchased by an investment group called Foxhill Invco Two LLC, which includes Larry Hershfield, the CEO of San Diego-based investment firm Ranch Capital.
\Manchester, a former owner of The San Diego Union-Tribune, acquired the property initially owned by the Copley family in 2015 for $17 million. This initial purchase encompassed the 8-acre Foxhill Estate. Over time, Manchester added adjoining lots, increasing the total acreage to 32. \The expansive property boasts stunning ocean views and features numerous amenities, including orchards, gardens, a gym, an eight-car garage, a greenhouse, staff quarters, a formal dining room, a three-hole golf course, a pool pavilion, and the 23,000-square-foot Foxhill Estate itself. The French-style mansion, built in 1959, underwent significant renovations and expansions during Manchester's ownership. The property also has four gated entrances and is situated adjacent to the La Jolla Country Club. Real estate agents Ross Clark and Brett Dickinson of the Dickinson-Clark Team at Compass facilitated the sale. The investment group plans to develop some of the property into additional luxury homes.
REAL ESTATE LA JOLLA SALE RECORD PROPERTY LUXURY HOMES INVESTMENT GROUP
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