Dubai developer buys high-rise

This one is bound to get some attention. The Business Journal is reporting that Club View, a super-luxury condo being built on the tip of the Wilshire Corridor just a few blocks from Bev Hills, has been sold to Emaar Properties for $95.4 million. Only the foundation and underground levels have been completed, so it'll cost a bunch more to finish. The seller is Chicago-based Fifield Cos., which put the property on the market earlier this year. Club View is one of several luxury properties that are going up or are in the planning stages. We're talking about units selling for several million bucks on up. Developers tend to shy away from Middle East funding sources for political reasons, but with this one already under construction the new owners might have an easier time. Their bigger problem might be filling all those condos - not so much because of the current credit crunch, but because there are so many competitors in Bev Hills and West L.A. going after the same dollars. Some in the real estate biz say that’s probably why Fifield wanted out.