Wealthiest Angelenos: Alan Casden – #12

0
Wealthiest Angelenos: Alan Casden – #12
Wealthiest Angelenos: Alan Casden

The skinny on the fat wallets of L.A.’s 50 wealthiest.

Alan Casden

NET WORTH: $2.63 billion +5%

LAST YEAR: $2.5 billion

AGE: 65 RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Real estate

THE MONEY: Relatively quiet year for residential developer; made no major acquisitions but plans large projects in West Hollywood and West L.A. Portfolio, including Palazzo in Westwood, said to be nearly fully leased. Enjoyed returns based on strength of apartment holdings.

BUZZ: In August, opened upscale 276-unit Empire Landing apartment complex in Burbank, serving city’s growing base of office employees. Construction expected to start this year on West Hollywood mixed-use development that could be worth more than $300 million when completed. Also wants to build large mixed-use apartment project next to planned West L.A. light-rail station. Heavily involved in Jewish causes and prominent supporter of Israel. Serves on Holocaust Memorial Council overseeing Holocaust Memorial Museum in Washington, D.C. Owns renowned ancient Jewish coin collection that has been valued at $40 million. Scored big nine years ago, netting nearly $800 million from sale of apartment portfolio to Apartment Investment & Management Co.

No posts to display