Shinhan Golden Faith International Development Ltd. bought out the Malibu Golf Club for $30 million dollars. The club had been formerly bought by previous owners for $32 million dollars along with the owners spending millions more on repairs. The former company as well had gone bankrupt two times in 2009 and 2015. Property management wanted a buyer who could quickly pay off the debt and Shinhan were the ones to be able to do so. The new company may fix the golf course for use or build homes as a possible use of the site.
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