As most of us know getting info from the Trustee’s office is …. well, a challenge. But there are a few clews from the 2021 10-Q filing. Here are some highlights.

  1. “As of December 31, 2021, the Wind-Down Entity owns three luxury single-family homes that are under construction in the Los Angeles, California area. The majority of the gross carrying value of the Wind-Down Entity’s real estate assets held for sale is concentrated in these three single-family homes. In addition, construction is being completed on two other single-family homes that have been sold. The Wind-Down Entity is also liquidating its remaining five other real estate assets. See Note 3 for additional information.”
  2. Here’s a link to one of the listings we have active at $47 million list price.
  3. As of the end of December the Trust also has 5 other parcels, one I believe (not sure here) is in Hawaii.
  4. Here’s the link to that 10Q if you’d like some reading.

I haven’t forgotten to work up an update on the various lawsuits. Back soon on that topic.

13 thoughts on “Small up Date on Remaining Real Estate

  1. Hi Greg, I appreciate your updates as they’re informative and reassure me that I’m not alone in this mess. I have a question about the self-directed IRA custodian originally recommended to me by Woodbridge (through my advisor at the time). The IRA custodian is Forge Trust and they have been a nightmare to deal with, charging outrageous administrative fees, losing forms, reliably unresponsive, and worst of all, they refuse to close my accounts claiming they cannot until the full amounts on their books have been resolved through Woodbridge. We know that will never happen, so am I forced to continue watching them siphon off what retirement savings I have left? Are other Woodbridge victims experiencing this? Are you aware of how I may be able to sever this relationship? Many thanks, in advance, for any insight you may be able to provide. Sincerely, Mike Lipsitz, Investor 760-449-4048

    Liked by 1 person

  2. Greg, you have been a vital link to many folks, who otherwise would not be aware of the ongoing proceedings, in the Woodbridge Wind-Down drama. I can’t believe this has lasted almost five years! I personally want to thank you for the updates and research you have provided myself, and countless others. You are indeed a blessing!
    Ray Halle

    Liked by 1 person

  3. Thank you, Greg. It’s really becoming extremely frustrating that Woodbridge doesn’t keep us more informed. For example, the lawsuits were supposed to all have a court date by late spring, but…. what happened to that? In the meantime we’re all still waiting for any shred of information. If we didn’t have you, we’d know nothing!

    Liked by 1 person

      1. Greg, you don’t think they would DROP those lawsuits, do you? I mean, they were all supposed to set trial days by the end of the spring and we’ve heard nothing. I’m getting worried. Also, it’s been 6 months without any distributions! They’ve never gone that long before.


      2. I have tried via another lawyer to research the status … but CA has a $200 fee to access their public court data, I didn’t feel like paying a fee to get the updates.
        Do you know a lawyer in CA that would do some basic research for us?


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