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Aaron
A-Bomb


Joined: 24 Jan 2007
Posts: 824
Location: Atlanta, GA

Reynen and Bardis
PostPosted: Fri Apr 11, 2008 4:45 am Reply with quoteBack to top

Looks like these guys are ailing... maybe an implode?

http://www.sacbee.com/101/story/804304.html
Quote:
Rancho Cordova-based home builder Reynen & Bardis Communities Inc. and a dozen related entities owe more than $1.9 million in late property taxes and penalties, Sacramento County property tax records show.


http://www.bakersfield.com/102/story/392968.html
Quote:
The Sacramento-based developer behind a half-built Wasco neighborhood and several other troubled projects in Kern has defaulted on a $35 million construction loan, documents recorded Tuesday show.

Reynen & Bardis Wasco LP, one of dozens of companies statewide affiliated with longtime homebuilder Reynen & Bardis Communities Inc., has fallen behind on a 2005 loan from Guaranty Bank, public filings show


Anyone have more information on them? How big are/were these guys?
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billddrummer
Nitroglycerin


Joined: 06 Aug 2007
Posts: 792
Location: Reno, NV

Re: Reynen and Bardis
PostPosted: Thu Apr 24, 2008 6:32 pm Reply with quoteBack to top

Aaron wrote:
Looks like these guys are ailing... maybe an implode?

http://www.sacbee.com/101/story/804304.html
Quote:
Rancho Cordova-based home builder Reynen & Bardis Communities Inc. and a dozen related entities owe more than $1.9 million in late property taxes and penalties, Sacramento County property tax records show.


http://www.bakersfield.com/102/story/392968.html
Quote:
The Sacramento-based developer behind a half-built Wasco neighborhood and several other troubled projects in Kern has defaulted on a $35 million construction loan, documents recorded Tuesday show.

Reynen & Bardis Wasco LP, one of dozens of companies statewide affiliated with longtime homebuilder Reynen & Bardis Communities Inc., has fallen behind on a 2005 loan from Guaranty Bank, public filings show


Anyone have more information on them? How big are/were these guys?


Big in the Sacramento valley, Bakersfield, Modesto and the CA foothills. Battling a number of suits relating to faulty foundations in the Rancho Murietta subdivision:

http://www.sacbee.com/elkgrove/story/730886.html

Had a ton of land and land options at the end of 2006 that dropped in value, forcing margin calls from lenders.

Local NV bank foreclosed on a 128-lot subdivision. The subdivision included 7 homes that are in various stages of completion, and the bank has listed each as a foreclosed property with a local realtor. Here's a link for one:

http://www.freenevadamove.com/.....tails.html

I like the comment that the bank is "not interested in completing these properties." Review of records shows more than 100 liens related to this project, virtually all of them recorded after the NOD from the bank.

Personal bankruptcy filed by one of the co-founders, probably Chapter 13.

http://www.bizjournals.com/sac.....p;ana=e_du

Draw your own conclusions.

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