At least three homes that belonged to the late David Copley of La Jolla are up for sale, and there are plans to sell all remaining properties in the former San Diego Union-Tribune owner’s estate, based on information from a Copley Press executive and property records.
Copley, the last to carry the torch in his family’s media legacy,died from a heart attack in November at age 60. He had no heirs.
The newspaper publisher’s real estate portfolio has eight homes, ranging from the famed Fox Hill property in La Jolla, where the Copleys entertained the who’s who of Hollywood and politics, to a vacation home in Borrego Springs, a small desert town where the annual Copley publisher’s retreat was held.
David Copley
The estate also plans to sell off Copley’s assortment of cars, said Dean Dwyer, the chief financial officer, treasurer and vice president of finance for Copley Press Inc. The collection of up to a dozen vehicles includes an Aston Martin, a Porsche and a classic Pontiac GTO, said Bill Evans, a San Diego hotelier and longtime friend of Copley’s.
Evans estimated the collection’s value at approximately $1 million. Copley’s passion for cars went beyond their aesthetics.
“Everything was to be driven, not viewed,” said Evans, who met with Copley every four to five months to talk cars. “He was a very active collector.”
Dwyer confirmed that the settlement of the Copley estate is “in process,” which includes selling off all properties and vehicles. He did not offer any details on when the remaining homes will be listed, what else would be sold and who are the designated beneficiaries.
Evans, managing director of Evans Hotels, believes beneficiaries of the Copley estate could include the several charities Copley and his family had supported over the years through the Helen K. and James S. Copley Foundation, which might also be a beneficiary of Copley’s estate. Copley was a mega benefactor of the arts: He gave to organizations such as the La Jolla Playhouse, the Old Globe and the Museum of Contemporary Art San Diego. He also donated money to animal shelters, hospitals, and the new downtown library as well.
About seven years ago, Forbes ranked Copley as one of the 400 richest people in America. His estimated net worth at that time was $1.2 billion.
A total of 12 land parcels are tied to the private Copley trust, comprising the eight homes and at least 20 acres of undeveloped land, according to Dwyer and public records.
It’s also unclear, and difficult to determine, today’s market value of Copley’s properties because none of them has been assessed recently, said Jeff Olson with the county assessor’s office.
Copley and his family acquired the properties from as early as the 1950s to the mid-2000s; he bought the parcels himself or inherited them through his mother Helen Copley’s trust. Property assessments are only performed after a change of ownership.
What’s known is that three of the homes in the estate have been listed within the past two weeks for the total asking price of $7.74 million. The active listings are: