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Land Resources / News / New Mexico
SunCal Loses New Mexico Land to 148M Dollar Foreclosure Sale
Source: Orange County Business Journal, by Mark Mueller
A 55,000-acre housing project in New Mexico planned by Irvine-based master developer SunCal Cos. has been sold at a foreclosure auction to three of its largest creditors, according to local reports. Western Albuquerque Land Holdings LLC, a newly formed company created by Barclay’s Capital Real Estate Inc., iStar Financial and Five Mile Capital, paid $148 million for the land late last week, according to the Albuquerque Journal. September 20, 2010
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