San Francisco Landlord Tops List Of Bay Area Tax Delinquents
Of the top 500 tax delinquents in California, former CitiApartments Managing Partner and cousin of the late Walter Lembi, David M. Raynal, is number six with $2.59 million owed, the…
Is That The Fat Lady We Hear Singing Over At CitiApartments?
Pledged as collateral on a number of loans which are now in default, it’s a plugged-in tipster that notes “the Debtors’ respective membership interests in the limited liability companies” which…
Flipping A Few Lembi Properties Through Foreclosure
A plugged-in tipster reports: Coastal Capital of Sausalito, which bought a portfolio of loans secured by Lembi properties, foreclosed on the properties . Coastal reportedly paid $24.1 million (64% of…
The Story (And Faces) Behind The Rise And Fall Of The Lembis
San Francisco Magazine digs deep to tell the story of the Lembis. Their business plan was simple: Exploit the difference between artificially low, rent-controlled rents and the sky’s-the-limit, market-rate rents…
The Chronicle Reports “Dozens,” A Plugged-In Source Says Over 100
While the Chronicle reports “dozens more Lembi properties are in play” in addition to the 75 ex-Lembi-owned apartment buildings that have already been given or taken back by the banks,…
A Few More Numbers For The Most Recent Lembi Twelve
Some additional numbers on the twelve properties the Lembis put on the market in May: Lembi hopes to generate $43 million in revenue from the disposition, which equates to approximately…
Lembis At Risk Of Losing Another 23 Apartment Buildings
After deeding 51 buildings back to the bank in lieu of foreclosure in January, the Lembis are at risk of losing another 23 of their remaining 250-ish apartment buildings in…