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Ownership Interest in Real Estate Company
Listing Information
Attachments
Ownership Interest in Real Estate Company
Price: $6,710,000.00
Other Item Info
Item #: cobke_436133
Created: 11/08/2016
Category: Business Property > Investments > Partnership interests/ LLC/LLP
Sale Date: None Set
Created: 11/08/2016
Category: Business Property > Investments > Partnership interests/ LLC/LLP
Sale Date: None Set
Seller Info
Theodore J. Hartl
Debtor's Attorney
600 17th Street Suite 1800 South
Denver, CO 80202
303-573-5900
Debtor's Attorney
600 17th Street Suite 1800 South
Denver, CO 80202
303-573-5900
Bankruptcy Info
Description
Sale of 100% ownership of River Canyon, a Colorado limited liability company. River Canyon owns a 19% interest as a tenant in common with the Buyer and its affiliate, Hill Ranch, Ltd., in approximately 133,000 acres of land near Fort Carson, Colorado.
Financial Overview
Income and Expenses ($)
months
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Asset and Liability Summary ($)
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Real Estate:
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Liabilities to assume:
Additional Details
Sale price comprised of:
- Purchaser shall pay the sum of Ten Thousand Dollars ($10,000.00) to C. Randel Lewis, the duly appointed Examiner ("Examiner") in the joint Chapter 11 bankruptcy case filed by Craig J. Walker and Susan Ann Walker pending in the United State Bankruptcy Court for the District of Colorado ("Bankruptcy Court"), Case No. 15-18281("Case"), hereinafter known as the "Cash Payment"; and
- Purchaser shall pay an amount of not less than $6.7 million, directly to American AgCredit ("Lender") as a partial principal payment under that certain promissory note dated April 25, 2007 executed by Seller in favor of the Lender ("Assumed Note") which is secured by the Ag Credit Deed of Trust (as hereafter defined) encumbering the Real Property; and
- Purchaser shall cause Hill Ranch, Ltd., a Texas limited partnership ("Hill") to assume all debt remaining under the Assumed Note and the AgCredit Deed of Trust, pursuant to the Lender Assumption Documents as defined in Section 8.5.