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State Purchases Topanga Property for $43 Mil

LOS ANGELES-The 1,659-sf parcel will be used as public parkland. The parcel was purchased on Thursday by the American Land Conservancy, which then sold it to the state.

By Erin Cassin | Updated on September 03, 2001

LOS ANGELES-A 1,659-acre parcel in Topanga Canyon has become the latest addition to California’s treasure trove of public lands, as the state recently acquired the property in a transaction worth $43 million.

The parcel had been acquired on Thursday by the American Land Conservancy, which bought the parcel from LAACO Ltd. for $43 million. The organization then “turned around and sold it to the state,” according to Alexander Auerbach, a spokesperson for LAACO.

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