Schools
Windrush School Poised to Sell to SF-Based LLC
A letter from the trustee informed bond holders of the impending sale.
An outfit called Educational Ventures is buying Windrush School for $6.9 million, according to a letter from Wells Fargo to the holders of Windrush School’s revenue bonds.
Dated Sept. 10, the letter states that the buyer has 45 days to complete due diligence and that the purchase price will be paid in cash at closing.
According to the California Secretary of State’s office, Educational Ventures is an LLC registered in San Francisco and incorporated on August 1 of this year.
Windrush declared bankruptcy almost a year ago. In March, the bankruptcy filing was dismissed with prejudice
Lord Abbett, the investment firm that bought most of the school's $13 million in construction bonds, filed suit on July 13 seeking damages from 17 individuals identified in the suit as school board members at the time the bonds were issued in 2007.
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