Rob and Sheryl Lowe Sold Their Very Pretty Estate for $45.5 Million

••• Rob and Sheryl Lowe have reportedly sold their gracious Montecito estate, for $45.5 million,* although it hasn’t shown up in the county records yet. It was last listed at $42.5 million, down from $47 million, so maybe the furniture and/or an autographed headshot got bundled in. The buyers are said to be “retired healthcare private equity executive Jack McGinley and his wife Julie McGinley.” (Grammar note: A comma after “wife” would indicate that Julie is the only one. You never know.) —Wall Street Journal or, if you’re not a WSJ subscriber, the rewrite at Architectural Digest *UPDATE: The county clerk’s records say it was $44.5 million.

••• From a press release on Edhat: “The campaign to buy and preserve 104 acres in the San Marcos Foothills that are planned for development got a big boost last week when an anonymous donor gave one million dollars to the effort. The donation was given on condition that the funding will be returned if the coalition of environmental groups are unable to raise the remainder of the money needed to buy the property.”

••• “Buellton-based craft brewer Figueroa Mountain Brewing Co. filed for Chapter 11 bankruptcy reorganization on Oct. 5, as the region’s second largest craft brewer announced plans to restructure its debts and bring in a new financial partner.” —Pacific Coast Business Times

••• The last three high-end properties to be auctioned around here (859 Picacho Lane, 706 Park Lane, and 4558 Via Esperanza) got underwhelming results, but Patrick Nesbitt thinks his property at 120 Montecito Ranch Lane will fare better. The “20-acre spread, once listed at $65 million, will be auctioned off to the highest bidder with no reserve through Concierge Auctions on Nov. 16-19. Nesbitt, a hotelier and chief executive of Windsor Capital Group, has been shopping the property around since 2016. Records show he trimmed the asking price to $55 million earlier this year.” The buyer’s premium, paid to Concierge, is a bold 12 percent. —Yahoo! Finance


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