1994 Land Fund II, Dallas I, LP
The Resolution Trust Corporation (RTC) auctioned off 37 defaulted land loans
with a book value of $55 million. These loans were secured by land in five
states and comprised over 6,000 acres of land.
In a very short period of time William A. Shopoff’s team of specialists set values and ascertained the risk of all major assets in the pool. His team set about winning the bid for the pool of loans for each asset within the land pool.
Based on the due diligence performed in evaluating these assets and determination of a preferred exit strategy for each asset, the results were phenomenal. Within 12 months all of our investors’ capital had been returned through the precise execution of the plans for each asset. Part of the plan was settling some of the larger defaults, as well as foreclosures and sale of the land on a few of these properties. This was done rapidly and relentlessly. The RTC had not pursued collection on many of these loans for over a year, whereas William’s team resolved many of the challenges in a matter of months.
Over the course of the next decade, our team continued to work on maximizing value, having to create numerous exit strategies ranging from subdivision of parcels, re-zoning and creating joint ventures.
This long-range plan resulted in the foreclosure or sale of the property or settlement of the debt on all parcels and generated a yield to our investors of over 40% per annum.
Investing in The Shopoff Group limited partnerships involves a high degree of risk,
including the possible complete loss of your investment. In addition to being an illiquid
investment with an uncertain liquidity date, these investments may have other risks.
The past performance of any of The Shopoff Group's Limited Partnerships is no guarantee of
future results.
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The Shopoff Group
Corporate Headquarters
114 Pacifica, Suite 245
Irvine, California 92618
Main: 949–417–1396
Fax: 949–417–1399