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May 9, 2012
Arent Fox Distressed Real Estate Report | Iss. 2, Vol. 2

Arent Fox attorneys have significant experience advising parties with respect to the workout, disposition and acquisition of real property, distressed real estate loans and other assets. We regularly monitor not only cutting edge developments in real estate, commercial and bankruptcy law, but we stay abreast of real estate-related bankruptcy filings across the country. Following is a listing of just a few recent real-estate filings and pending sales.

 

Pending Bankruptcy Sales

 

Assets

Bidder/Amount*

Dates

* Amount reported in USD

 

Cliffs Club & Hospitality Group Inc.

Carlile Group

Auction: April 23, 2012

All assets/plan sponsor

About $64 million in liabilities

Sale Hearing: May 8, 2012

 

Recent Bankruptcy Filings

 

Debtor

Bankruptcy Court

Type of Property

Reported Assets*

* Assets reported in USD

 
 

Carl Lindberg Construction

California, Central District (Santa Barbara)

Real Estate

$1–10 million

Cornerstone Development of Lake County, LLC

Florida, Middle District (Orlando)

Real Estate

$10–50 million

Vickery Creek Properties, LLC

Georgia, Northern District (Atlanta)

Real Estate

$1–10 million

Suite Dreams America, Inc.

Mississippi, Northern District (Aberdeen)

Hotel

$1–10 million

S.K. Properties, A North Carolina General Partners

North Carolina, Middle District (Greensboro)

Real Estate

$1–10 million

Heritage Investment Properties, LLC

Pennsylvania, Western District (Pittsburgh)

Real Estate

$100–500K

 

This report is provided exclusively to our firm's clients and certain investors, developers, lenders, and entities with which we have a relationship. For additional information about any of the cases listed above, please contact Mette Kurth and Aram Ordubegian.

Related People

  • Mette H. Kurth
  • Aram Ordubegian

Related Practices

  • Bankruptcy & Financial Restructuring
  • Real Estate
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