DENVER-Banning Lewis Ranch Co., owned by a unit of Makar, Farallon Capital Management LLC and Greenfield Partners LLC., has filed Chapter 11 petitions in Bankruptcy Court in Delaware, referring a debt of more than $242 million in Banning Lewis Ranch. The development was supervised by Makar Properties LLC and other.
The 21,400-acre project in Colorado Springs was intended to have nearly 75,000 homes. The bankruptcy filings seem to be the result of a deadlock between the partners of the company. For the full story, go to Orange County Business Journal.
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