Previously we wrote about performing a successful commercial loan workout on a broken construction project in downtown San Diego. You can read that article here. We had a chance to sit down with San Diego developer Malcolm Davies and interview him about his recent experience. Here is a transcript of that interview.
A California businessman was facing a debt load he could not manage, in addition to growing pressure from his lender, and the serious prospect of losing another golf course property in California. He had previously tried to do commercial loan workouts on a large block of properties, but unfortunately ended up losing a variety of hotel and golf course assets valued at $120 million to an international bank.
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