On December 22, 2020, the bankruptcy Trustee completed three sales of its real estate holdings located at
10080 W. Sunset Blvd. (also known as 141 S. Carolwood Dr.),
10060 W. Sunset Blvd., and
10100 W. Sunset Blvd. in Los Angeles, California
to three private entities for an aggregate cash purchase price of $88,000,000.
Here’s a link to some info on the property:
These sale transactions took place pursuant to three purchase and sale agreements, each entered into on December 17, 2020. The Company considers these properties to have been among the most significant assets in the Company’s residential real property portfolio and believes that the completion of these transactions represents a substantial step in the progress of the Company’s asset liquidation activities.
For those not familiar with California, real estate transactions aren’t fast – after there’s a contract (for sale) the property generally goes into what is called ‘escrow’ then several steps occur, etc. So these were very fast clean transactions! I’m guessing another distribution will be coming soon.