Shuwa Purchasing Golf Course: Shuwa Investments Corp....

Shuwa Purchasing Golf Course: Shuwa Investments Corp. is purchasing its first U.S. golf property: the 130-acre Seven Hills Golf Course in Hemet, Calif. The Japanese real estate company, which owns the Arco Towers in Los Angeles and a string of other premium U.S. commercial properties, is acquiring the public golf course from Korean businessman Dennis Lee, who has owned it for 18 months, according to Shuwa’s lawyer Randolph H. Gustafson at Graham & James. The purchase price was not disclosed, but sources said Shuwa paid less than $10 million. The sale is to close in mid-April.