According to the San Clemente Times, NY Firm D.E. Shaw has bid $195 million to buyout some of SunCal Properties, including Marblehead Coastal, after the bankruptcy of Lehman Brothers. Marblehead Coastal real estate will be one of the last new developments along the Orange County coastline and encompasses 247 acres on the western side of Interstate 5 between Avenida Vista Hermosa and Avenida Pico. The hearing regarding this bid is expected to occur in October. Hopefully this will bring back life to this fanastic development to come offering custom lots with ocean views, villa style homes, and new upscale dining and shopping.
For more information about Marblehead Coastal, please visit our page exclusively dedicated to this new development or give your exclusive San Clemente realtors a call at (949) 281-5444
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