John Laing Homes
In Chapter 11 since Feb 19, 2009
(District of Delaware)
One of the largest private home builders, John Laing Homes (aka WL Homes) filed for bankruptcy on February 19, 2009. It has been 100% owned by Emaar Properties since June 2006. Until recently, it had 105 real estate developments across the United States and operated mainly in California, Colorado, Texas and Arizona.
John Laing Homes, Research Report (Jul 5 2009)
*News Flash:
Jul 17, 2009 Update addressing key events in July, specifically who to contact regarding upcoming auctions, which properties are now OREOs and contact info for the real estate advisors responsible for marketing the properties ($69.99, Updated as of 7/17/09). View excerpt.
Our full report in July’09 provides a List of Real Estate Properties coming on the market.
Components of the Base Report
- Discussion of Impending Liquidation of John Laing Homes
- Listings of Real Estate Properties
- Specific location – e.g., “Located at Filings 9 & 18 within the Stapleton MPC in Denver Colorado, which is located north of 35th Ave. between Akron Ct. and Wabash St.”
- Specific unit number – e.g., “Bldg 5 Unit 1153”
- Minimum release price
We are watching this case daily. Watch for further updates.
Click here to read an excerpt of this Research Report.
Lists attached. 80 pages
>> Starting at $129.99 for Base Report. Enhanced Report containing all Enhancement Modules for $199.99
Enhancements Modules are available separately - $19.99-$69.99.
Enhancement Modules to the Base Report:
(1) CRO Status Updates: Where are the Fire Sales?
Buyers of the Enhanced Report will get a list of status updates by the Chief Restructuring Officer of WL Homes in May 2009 indicating the projects where they are conducting the biggest fire sales. For example, his comment for certain projects was “Wouldn’t be able to sell” or that the asset value was “Wiped Out”.
(2) List of Related Developments: Are there Other Properties?
The Related Developments List provides details about John Laing Homes’ interests in other residential developments (not in bankruptcy). Most useful for institutions and investors seeking to pick up related distressed assets, especially the entities where the builder holds 100% interest.
Details provided:
- Name of Entity
- Description – e.g., “Acquire, develop, construct and sell a 68 development of single family detached housing in Carlsbad, CA (Cordelane)”
- The amount or value of John Laing’s Interest in the related development
(3) Contact List: Who to Call?
Who do you call for bulk sales or OREOs? Many banks are involved in John Laing Homes’ bankruptcy. The Contact List provides information on the contact person for the bank and the lawyers involved. The report also outlines the banks which have already kick-started the process towards foreclosure.
Details provided:
- Bank Name
- Name & Fax Number of Contact in Bank
- Law Firm, Lawyer’s Name & Address
(4) List of Homeowners: Info on Potential Resales?
The Homeowners List is a comprehensive listing of all the homes sold by John Laing Homes prior to its bankruptcy. It helps investors and buyers looking for resale homes bought during the boom (ie, these owners are likely to have bought at a high price).
Details provided in the list:
- Name of Development - e.g., “Stonetree”
- Address: e.g., “120 Spanish Lace Irvine CA 92620”
- Sale Closing Date
John Laing Homes, Research Report (Mar 11 2009)
Chapter 1 of the Report discusses the List of Abandoned Projects and how the bankrupt builder is dealing with various uncompleted developments. Chapter 2 summarizes the financing situation and the budget released in court filings, thereby addressing the question of whether there will be a cash infusion to support operations and continued construction.
Cash flow budget attached. 48 pages.
>> $49.99
John Laing Homes, Research Report (Feb 19 2009)
An analysis of the builder’s balance sheet at the time of bankruptcy, their major creditors and the extent to which banks are exposed, the properties they are exiting and whether they would honor customer obligations. 6 pages.
>> $29.99
