Agency Sells Building That Was Owned by Seized S
The Resolution Trust Corp., the federal agency responsible for cleaning up the troubled savings and loan industry, said it completed the sale of a 61-unit apartment complex at 8700 De Soto Blvd. in Canoga Park for $3.7 million. The property was previously owned by County Bank of Santa Barbara, which was seized by the RTC in March.
The buyer of the apartment complex, which is known as Parc Place, is J. H. T. Partners of San Gabriel. The RTC said the purchase price is 85% of the property’s book value--the value at which an asset is listed on a balance sheet.
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