Force 10 Partners

An advisory firm specializing in corporate restructuring, challenged businesses, litigation, and other special situations.

182-space mobile home park in Long Beach filed for bankruptcy due to tenant litigation for failure to maintain and negligence

From the newsroom

Force 10 served as the financial advisor to the Chapter 7 Trustee. We conducted a Section 363 sale process, culminating in the $11 million sale of this deeply distressed Mobile Home Park, which needed over $20 million of remediation and repair. We managed a complex due diligence process while communicating with more than 200 potential bidders.

A global settlement of over $50 million for the residents of this mobile home park was reached after a jury awarded $39.5 million to an initial group of 30 litigants a year earlier. As part of the agreement, tenants also shared a portion of the proceeds from the park sale. Force 10 marketed the severely neglected facility, managing a complex due diligence process involving numerous soil, geology, and structural consultants. After a first stalking horse bidder broke its commitment, our efforts culminated in a Section 363 sale for $11 million amidst the initial confusion of the COVID-19 pandemic. The buyer also committed to significant property improvements of approximately $15 million. The sale price confirmed Force 10’s stabilized valuation of approximately $27 million.

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