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SunCal Picks Up 1,072 Residential Lots for $20M

LAS VEGAS-The liquidation of Kimball Hill Homes winds up with SunCal acquiring 639 finished lots and 433 partially-finished lots in 11 communities in the region.

By Brian K. Miller | Updated on November 06, 2009

LAS VEGAS-The liquidation of Kimball Hill Homes closed escrow recently with SunCal Cos. and D.E. Shaw paying approximately $20.1 million for 1,072 finished and partially finished lots in lots in 11 communities in the Las Vegas Valley, according to the listing broker, Colliers International SVP Michael Stuart. The official seller and buyer were KHI Post Consummation Trust and KHI Acquisition LLC, respectively.

Irvine, CA-based SunCal is the largest privately held developer in the Western US. Kimball Hill Homes, a national privately-held homebuilder from Rolling Meadows, IL, filed for Chapter 11 bankruptcy protection in 2008. Stuart represented the company in the disposition of its Southern Nevada portfolio. D.E. Shaw manages funds and assets for institutional clients.

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