The Island: SunCal: Alameda project not backed by Lehman


Per SunCal spokesman Joe Aguirre:

“The bankruptcy filing by Lehman Brothers Holdings Inc. does not affect SunCal Companies’ development in Alameda. SunCal partners with various lenders and investors throughout the more than 50 developments in its extensive portfolio, and Lehman is not involved in Alameda Point in any way. Every development has its own project-oriented partnership with its own investors, and each holding is wholly separate from the others. SunCal Companies, as its name indicates, is made up of many companies, and it is privately held.”