Thomas Seaman Company
 
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About the Company
Thomas Seaman, CFA
Judicial Receiver
Thomas Seaman Company
3 Park Plaza, Suite 550
Irvine, California 92614
Direct (949) 265-8403
Main (949) 222.0551 ext. 101
Fax: (949) 222-0661
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Other Websites
> SEC vs. Carolina Development Co., Inc.
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> SEC vs. Small Business Capital Corp.
> SEC vs. Total Wealth Management, Inc.
> SEC vs. USFIA, Inc.

Rents and Profits Cases

Wells Fargo vs. Sargent
Non-judicial foreclosure action on strip mall in Glendora.  Stabilizing property by proposing new lease to tenant and evicting non-paying tenant. 

Banco Popular North America vs. Eagle Point Development, LLC
Non-judicial foreclosure action on several commercial buildings in Palmdale. Stabilizing property and evicting non-paying tenants.

Banco Popular vs. Milliani, LLC
Class B grocery anchored strip mall in Yorba Linda.  Replaced management and enforced terms of leases.  Assisted with due diligence which resulted in sale of the property.

Thrivent Financial for Lutherans vs. Finco Partners
Judicial foreclosure action on five building 70,000 square foot multi-tenant office and retail complex in Rancho Mirage.

Indymac Bank vs. Duarte
Judicial foreclosure action on mixed used apartment retail project in blighted area of Fresno.

Banco Popular vs. Navarro
Multi-tenant office building in Downey.

Prudential Insurance vs. JSM et al
Served as receiver in a judicial foreclosure action on a $250 million loan. Collateral consisted of 11 apartment complexes in Santa Monica comprised of 611 units.  Increased occupancy from 72% to 92%.

Comerica vs. Genesis Properties
Class A office building, 85,000 rsf.  Enforced leases, prosecuted unlawful detainer actions, dramatically raised rent collections from $4,000 per month to $80,000 per month in three months, assisted with new lender’s due diligence, plaintiff paid in full. Served as receiver twice!

BC Peak Holdings vs. Sung Koo Lee
Inner-city retail.  Dirty. Rehabilitated building, re-wrote all leases, achieved 100% occupancy at higher rates. Note buyer (Plaintiff) made 100% profit on note purchase due to rehabilitation of property by receiver.

Boeing Realty Corporation vs. Lee et al
Koreatown retail.  Cleaned up.  Enforced rent and triple net collections. Renegotiated leases.  Lender foreclosed, recovered full value of loan +.  Highly adversarial.

Principal Life Insurance Company vs. Inmostrat Corporation
Riverside retail, dark anchor, hazardous materials issues.  Stabilized, lease termination negotiations.  Reconciled three years of triple net expenses.  Efforts lead to sale of property at full note value after foreclosure.

12233 Wilshire
Class B office west side.  Raised occupancy from 60% to 98%, raised rents 35%.  Seismic and numerous other physical problems.  Obtained letters of credit from new tenants for leasehold obligations; two of which were drawn upon later.

John Hancock Life Insurance Company vs. Financial Plaza North
Brought in pro per motion to compel turnover of books and records and enforced Court’s orders.

GMACCM vs. Manning, et al
Class B office.  Settled eminent domain action, got engineering concessions to lessen impact of taking, increased cash proceeds from same.

GMACCM VS. NEC
Class B office building (vocational school).  Successfully brought true ex parte motion without counsel second day as receiver which resulted in unexpected recovery of post default, pre-receiver rents ($350,000).  

Manufacturers Life vs. Mira Costa Partners
Suburban Class B office/retail.  Stabilized leasing, managed after foreclosure, raised caliber of tenants, eliminated un-desirable uses, consolidated leased premises, sold for top dollar in excess of loan.

Yasuda Trust vs. Bonita Properties
Extremely large 660,000 r.s.f. industrial engineering complex formerly occupied by aerospace giant.  Successful negotiations of premises restoration issues lead to large cash windfall to note holder.

Teachers Insurance vs. Wilshire Bundy Plaza
Class “A”, 14-story Westside-Los Angeles office building of 289,000 rsf.  Increased occupancy and raised rents during foreclosure process.