IRVINE, CA-Three long-stalled projects managed by SunCal Cos.could hit the market for sale as a consequence of a recent rulingby the federal bankruptcy court of Santa Ana. Alfred Siegel is thetrustee appointed by the bankruptcy court to help plan thesale.
The properties include a 6,000-unit McAllister Ranch developmentnear Bakersfield and two uncompleted projects, SummerWind Ranch andMcSweeny Farms, in Riverside County. The three projects spread over3,500 acres have been under Chapter 11 protection for over twoyears and carry a debt of over $300 million. For the fullstory, go to Orange County BusinessJournal.
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