Receivership Property Management - Los Angeles Superior Court
Scope of Work:
Receivership and Bankruptcy Case – Superior Court shopping center receivership case converted to bankruptcy case.
Description of Project:
Joel Hiser on behalf of HTL Hospitality Advisors was originally appointed as receiver by the Los Angeles Superior Court BC 438638 and retained by the U.S. Bankruptcy Court – Central District of California Case No.: 1:10-bk-21696-GM to oversee the estate throughout the case. Mr. Hiser managed the business of SE10W&L, LLC which owned a two year old, 28,808 square foot, shopping center consisting of two multi-tenant retail/office buildings and a ground leased Carl’s Jr. Restaurant. A Panda Express Restaurant which had purchased an adjacent development pad from the Debtor also paid CAM charges to the estate. In addition to day to day management of the center, Mr. Hiser also leased several thousand feet of retail space. He testified in the bankruptcy hearings regarding operational matters related to the center, leasing potential and long term profitability of the center.