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This business model led to the explosive growth of McDonald's; the real estate deals were handled through a specially formed corporation named "McDonald's Franchise Realty Corp." [6] [7] The "Sonneborn model" persists to this day within the corporation, and might have been the most important financial decision in the company's history. McDonald ...
Finding great success in the real estate business, he, along with longtime business partner, Frank Mariani, formed real estate investment company Mariani-Buss Associates. [8] In 1979, Buss purchased Pickfair , the Beverly Hills estate once owned by Mary Pickford and Douglas Fairbanks ; [ 5 ] he sold it in 1987. [ 9 ]
[13] [14] The "Sonneborn model" of real-estate ownership within the franchise persists to this day, and may be the most important financial decision in the company's history. McDonald's present-day real-estate holdings represent $37.7 billion on its balance sheet, about 99% of the company's assets and 35% of its annual gross revenue. [15]
Pickfair is a mansion and estate in the city of Beverly Hills, California. The original Pickfair was an 18-acre (7.3 ha) estate [1] designed by architect Horatio Cogswell for attorney Lee Allen Phillips of Berkeley Square as a country home.
The couple adopted two children—Roxanne and Ronald—and remained married for 42 years until Pickford's death in 1979. [ 8 ] [ 9 ] In 1981, Rogers married real estate agent Beverly Ricono.
Under Kroc's leadership, McDonald's grew rapidly because Kroc focused on aggressive expansion, opening new restaurants across the United States and eventually in other countries as well. He became the owner of McDonald's Corporation in 1961 and was credited as its founder but this was not the restaurant and was a separate real estate company.
In 1919, actor Douglas Fairbanks leased the house and built a tunnel to Pickfair, the house next door that he shared with actress Mary Pickford. [1] [2] The tunnel was subsequently sealed. [1] Subsequent owners included actor George Hamilton and financier Bernard Cornfeld.
In 1948, Mary Pickford, a Canadian-born American film actress and producer, built a 7-bedroom, 8-bathroom, and 6,050-square-foot estate on 2.12 acres at the B Bar H Ranch where she lived and then later sold. Pickford was one of the most powerful women who ever worked in Hollywood.
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