Public court documents related to the ongoing Woodbridge bankruptcy proceedings make for some fascinating late-night reading, at least if you’re a property nerd like Yolanda. We glanced at the clock and realized we just burned three hours poring over thousands of pages of legal filings. Does that make us a weirdo? No, don’t say it — we already know the answer.
We’ve already blabbed about the sale of the famous (or infamous, if you prefer) 1 Electra Court estate to German billionaire Frank Binder, but it turns out there are two other eight-figure pricetag Woodbridge properties in escrow and awaiting final court sign-off. One is a 1.19-acre vacant lot in prime lower Bel Air (listed at $32 million) and the other a ridgeline house in the high-priced Bird Streets area of the Hollywood Hills (listed at $15.5 million).
As it turns out, both properties are being sold to the same buyer. He’s a fella named Jaime Gilinski.
Born to a Jewish family in Colombia, Mr. Gilinski grew up wealthy (though not a billionaire), earned a Harvard MBA, and eventually amassed a world-class fortune through mergers and acquisitions. He and his father Isaac Gilinski now control one of Latin America’s largest banking empires.
Aside from the banking, the Gilinski family has also made their mark on the international real estate sector. Down in Panama City, he is masterminding the $10 billion Panama Pacifico business/residential redevelopment. The construction site spans 4,450 acres of land, leading Forbes to label it “the most audacious real estate project in the world.”
Anyway, Forbes says Mr. Gilinski is worth $3.5 billion, while the Bloomberg Billionaires Index pegs his wealth at an even higher $4.23 billion. Either way, he’s the second-richest human in his native country.
Read more starting at ‘Interestingly, Mr. Gilinski’s partner in the Panama City development is British billionaire’ at…..Billionaire Jaime Gilinski drops $36 million cash in Bel Air and the Birds