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L.A. Investment Firm Purchases MVP RV Assets
Posted By RVBusiness On April 20, 2012 @ 3:33 pm In Breaking News | No Comments
The last vestiges of MVP RV Inc. were sold Thursday (April 19) to a Los Angeles-based real estate investment firm for an undisclosed amount, according to a report by the Press-Enterprise, Riverside.
Hackman Capital – which buys land and buildings and then sells or leases them – was among a handful of bidders, none with RV manufacturing intentions, to attend the private Thursday morning auction organized by Credit Management Association (CMA) at the recreational vehicle maker’s former headquarters near Riverside at 5300 Via Ricardo.
Hackman bought everything including two buildings with 460,570 square feet of space combined on 37 acres, property that had been owned by Fleetwood Enterprises before MVP RV bought it. The rest of what Hackman bought – the equipment, vehicles, fixtures and furniture inside – will be auctioned again on April 26 by the same auctioneer, said Michael Joncich, manager of the Credit Management Association’s adjustment bureau.
MVP RV shut down in mid-December amid a legal dispute that pit one foreign investor – Chinese businessman Winston Chung — against a group of others dubbed Fadar International which owns a majority of the private company’s shares.
To read the entire article by the Press-Enterprise click here.
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