The general partners of Laaco Partnership, which...
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The general partners of Laaco Partnership, which recently sold a 49% interest in the Riviera Country Club and Riviera Tennis Club, declared a special cash distribution of $200 per partnership unit, payable Nov. 22 to partners of record Nov. 15. Laaco also estimated that the partners will incur a taxable gain, based on federal and California income taxes, of $245 a unit. Laaco sold the interest to Marukin Shoji of Tokyo for $53 million. Laaco also operates the Los Angeles Athletic Club and California Yacht Club.
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