This new home, shortly after owned by Newhall House and you may Farming Co

The brand new Ca Personal Employees’ Senior years Program, which stream about $step 1 million with the a distressed a residential property package, is actually transactions to store a related loan standard out-of flipping on the a personal bankruptcy.

CalPERS, the country’s greatest societal your retirement financing, as well as people acquired a regulating interest in fifteen,000 acres off undeveloped land in the fresh Santa Clarita Area early a year ago, until the meltdown on housing marketplace. , try appraised at $2.six mil during the brand new CalPERS funding but keeps decrease much more in value subsequently. Continue reading