Vineyard Christian Fellowship of Malibu

The Company

Vineyard Christian Fellowship of Malibu (Vineyard Christian) owned and operated a 35,000+ square foot state-of-the-art new media/video production/recording facility, located in Malibu, California. The facility was built in 1998, and was intricately designed to support all stages of new media production.

The Situation

Vineyard Christian filed for Chapter 11 bankruptcy protection. As the result of a stipulation with its senior secured creditor, the debtor obligated itself to either close a sale within a tightly structured time frame or lose the asset to the creditor. Thereafter, the Bankruptcy Court appointed a Chapter 11 trustee to facilitate the sale process.

The transaction

Keen Consultants, the real estate division of KPMG Corporate Finance LLC, was engaged as the exclusive real estate adviser to the debtor’s estate. Keen undertook an aggressive marketing campaign that successfully resulted in the sale of the facility for US$15 million to the City of Malibu.