Tuesday, December 6 , 2016, 12:53 pm | Partly Cloudy 60º

 
 
 
 

Local News

More Mesa Parcels Sold to Saudi Developer for $25 Million

Seller says plans for the land include protecting a significant portion as a public park and nature preserve

Six More Mesa property parcels have been sold to a Saudi real estate developer for $25 million, according to documents filed Tuesday with the Santa Barbara County Assessor’s Office.

The 264.49 acres of land are undeveloped open space in unincorporated Santa Barbara County between Goleta and Santa Barbara and have been used as recreational space for decades.

There have been multiple attempts to develop the land, which were all vehemently opposed by the community and groups such as the More Mesa Preservation Coalition.

The buyer, Khalid S. Al Shobily LLC, is a Saudi Arabia-based real estate developer. The deal was brokered through Century 21 Bright Horizons in West Covina, Calif.

Sun Mesa Company, the seller, released a statement Wednesday saying that it has had extensive discussions with the buyer about a future plan for the land.

“We believe that this plan, which provides for a significant portion of the property to be protected as a public park and nature preserve with public trails and beach access, is the ideal solution for the future of the property,” President Stephen Holding said.

“The buyer has expressed their intention to continue working with Jack Theimer, Kim Kimbell and Stephen Hawkins on the current development plan; however, the buyer will not finalize their intentions until they have an opportunity to more fully review the proposed plan as well as other options.”

The properties were listed for $35 million but sold for $25 million.

With the deal, Khalid S. Al Shobily LLC paid $27,500 in documentary transfer tax, according to the County Assessor’s Office.

“Having owned the property for over 25 years, we feel some sadness to no longer be part of this beautiful piece of land,” Holding said, “but we are confident that it will be developed in a way which will benefit all involved.”

Noozhawk staff writer Giana Magnoli can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.

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