As described by Ruckle, the marketing process was streamlined to allow all potential buyers to participate on a level playing field, while at the same time navigating the bankruptcy court-directed schedule. Leading the buyers through this process created an active auction which allowed the trustee to select the proposal that maximized recovery for creditors to the bankruptcy actions, and provided the luxury of having backup offers on all three assets. This process not only helped to maximize value, but assured successful closings, Land Advisors said in an announcement regarding its role in the disposition of the properties.

The three properties were the subject of a bankruptcy action that is separate from two other bankruptcy cases involving more than 20 projects where SunCal Cos. and Lehman Bros. partnered to create residential communities. Frank Faye, SunCal chief operating officer, said that the market's interest in the three developments "has consistently remained strong" throughout the bankruptcy.

At McAllister Ranch in Bakersfield, the transaction involved the sale of 1,400 acres to the Rosedale Rio Bravo and Buena Vista water storage districts for use in water banking. SunCal retains development rights for the remaining 600 acres, and a major amount of infrastructure for the community is already in place, including a Greg Norman-designed 18-hole golf course.

McSweeny Ranch in Hemet already had extensive development work completed when work was interrupted three years ago, including infrastructure, occupied phase one homes and a completed community recreation center. SunCal collaborated with the hedge fund run by John Paulson on this transaction and will provide the firm with property management services. SunCal plans to complete the development plans for SummerWind Ranch as intended before the collapse of Lehman Bros.