HomeFed Corp. now owns the general partnership interest in PCG Summit-Lakeline Station-In Austin

In bankruptcy, Pacific Summit battles to keep Lakeline Station project.

Carlsbad, Calif.-based HomeFed Corp. now owns the general partnership interest in PCG Summit-Lakeline Station and will direct the affairs of the partnership as it tries to reorganize in bankruptcy.

Paul Borden, chief executive and president of HomeFed, would not elaborate on the company’s role.

HomeFed has some experience with reorganization. It filed for bankruptcy in 1992 after the failure of what was then its largest asset, HomeFed Bank. It reorganized and emerged from bankruptcy in the mid-1990s, primarily as a development company. It is the developer and manager of the San Elijo Hills mixed-use project in San Diego County and is involved in planning part of the Otay Ranch development near Chula Vista, Calif

In bankruptcy, Pacific Summit battles to keep Lakeline Station project.

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