Fired Trustee/Evaluation Multi-Phase Development
Our Client: The estate of an oil refinery owner.
Property: 100+ acre site previously used as oil field and refinery. Remediation plan partially approved.
Developer: Publicly held national builder.
Project: Multi phase and multi product development.
The family members had recently fired the individual managing the assets of the estate when the buyer of the 100+ acres requested modifications to the phased purchase contract based on specific changes in site conditions... (read more)
Bankruptcy
At the peak of the real estate market, this estate had a net worth of approximately $400 million. In the past 30+ years the investor group had acquired over 400 assessed parcels comprised of multiple asset classes including... (read more)
Construction Loan Workout Residentail Subdivision
Facts:
- 35 lot subdivision
- Site Improvements complete, including building pads
- 3 Model Homes Complete
- Total Loan Commitment $10.5 Million (average $300K per unit)
- 20 Homes completed, 10 homes sold and closed escrow 6 months ago, 8 standing, 2 under construction
- No recent sale activity (read more)
Partnership Dissolution Strategy
Our Client: A corporation acting as a general partner in a land development project
Property: 80 plus acres of raw land formerly used as a prune orchard
Project: Commercial, residential, multifamily, wetlands mitigation, city park and offsite infrastructure
Developer: A partnership of two corporations
The two general partners were in a major dispute on how to proceed with the project... (read more)
Distressed Condominium Projects
The Tuxhorn Company has worked with builders and lenders involved in complex and challenging distressed condominium projects. These condominium developments all suffered similar issues such as... (read more)
Management Support
The key management personnel of a mid-size underground construction company were killed in a plane crash.
At the request of the firm's CPA, The Tuxhorn Company was brought into the situation to consult, support, negotiate and assist the company's successors... (read more)
Arbitration
The Tuxhorn Company principals have acted as neutral arbitrators for complex transactions, working to resolve the differences of the parties in a fair and equitable manner... (read more)
Special Assessment Appeal
A group of participating lenders funded a multi-use project that included the construction of a sewer treatment plant to provide sewer service to the total project. The treatment plant was constructed to state standards and approved by the state. However, plant management was delegated to the local county government to assess and collect the necessary funds to operate the system. The disputed assessments are based on water use and effluent discharge volumes that are derived from various engineering assumptions... (read more)
Internal Reporting and Succession Planning
Our Client: Certified Public Accountant
Project: Evaluate Job Costing and Corporate Management
Business: Large Specialty General Contractor, building nationwide
The company had grown in sales volume to approximately $100 million per year. The accounting system, job costing, document management and personnel had changed very little in almost 10 years... (read more)
Development Strategy
Our Client: An Estate
Property: 15 acres of raw land surrounded by a large parcel held by public builders
The executor of the estate, who represented other siblings, wanted to prepare a strategy to develop the parcel to minimize cash outflow while enhancing the value of the property... (read more)
