IRVINE, CA-Three long-stalled projects managed by SunCal Cos. could hit the market for sale as a consequence of a recent ruling by the federal bankruptcy court of Santa Ana. Alfred Siegel is the trustee appointed by the bankruptcy court to help plan the sale.
The properties include a 6,000-unit McAllister Ranch development near Bakersfield and two uncompleted projects, SummerWind Ranch and McSweeny Farms, in Riverside County. The three projects spread over 3,500 acres have been under Chapter 11 protection for over two years and carry a debt of over $300 million. For the full story, go to Orange County Business Journal.
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