Spotlight: Group Buys 2,500 Acres of N. Calif. Vineyards
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A group led by Los Angeles-based real estate investment firm Colony Capital Inc. said it bought 2,500 acres of wine vineyards from Prudential Insurance Co. of America. Terms of the purchase were not disclosed. The properties are in Sonoma, San Joaquin and Sacramento counties. The grapes are used by such winemakers as Robert Mondavi Corp., Korbel and Fetzer. Colony Capital is buying the land through a newly formed investment firm called Silverado Premium Properties.
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