Carlsbad Raceway

Client:
United States Bankruptcy Court

Project Description:
Former home to the Carlsbad Raceway, this unimproved property was entitled for approximately 20 industrial lots.

Scope of Work:
As Plan Agent appointed by the United States Bankruptcy Court, oversaw the marketing and sale of this asset. The property was acquired by LSOF Carlsbad Land L.P. in December 2002 for $8,550,000. Responsibilities also included oversight of the final subdivision mapping, participation in the formation of a Community Facilities District and the disbursement of sale proceeds to various creditors.