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Leisure Technology Inc

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NEWS
August 7, 1989 | JANE FRITSCH, Times Staff Writer
A Los Angeles builder used a $27-million loan insured by the U.S. Department of Housing and Urban Development to build a golf course and help finance a lavish clubhouse for a private, gated retirement community in Oceanside, HUD records show. New homes in the development, called Leisure Village Ocean Hills, are selling for as much as $329,000 and feature individual back-yard fountains and hot tubs.
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BUSINESS
April 27, 1991 | JUBE SHIVER Jr., TIMES STAFF WRITER
The nation's housing slump claimed another victim from the troubled real estate industry Friday when Los Angeles-based retirement home builder Leisure Technology and seven of its subsidiaries filed for protection under Chapter 11 of U.S. bankruptcy laws. Leisure, one of the nation's largest developers of retirement communities with estimated annual revenue of $183 million, was the second major home builder to seek protection in federal bankruptcy court this month.
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BUSINESS
September 5, 1988 | BILL SING, Times Staff Writer
At first glance, Leisure Technology Inc. hardly looks like a firm in danger of falling on hard times. The Los Angeles-based developer and marketer of adult retirement communities reported record profits in its latest fiscal year. It owns high-quality properties and has a reputation for developing fine housing. The aging of the American population bodes well for its growth prospects. But a closer look reveals signs of potential vulnerabilities, some analysts contend.
BUSINESS
February 16, 1991 | JUBE SHIVER Jr., TIMES STAFF WRITER
Leisure Technology, one of the nation's largest developers of retirement communities, on Friday announced a quarterly loss of $15.2 million and warned that without "significant" financing and creditor concessions the company "could not continue to operate as a going concern." Conceding that it has been badly hurt by the nationwide housing slump, the Los Angeles-based company said it has defaulted on many of its secured loans and other obligations.
BUSINESS
May 16, 1990 | TOM FURLONG, TIMES STAFF WRITER
In another sign of California's slowing real estate market, Los Angeles-based Leisure Technology announced Tuesday that it will not pay the upcoming quarterly dividend on its preferred stock, a move that should save the struggling home builder more than $500,000.
BUSINESS
February 16, 1991 | JUBE SHIVER Jr., TIMES STAFF WRITER
Leisure Technology, one of the nation's largest developers of retirement communities, on Friday announced a quarterly loss of $15.2 million and warned that without "significant" financing and creditor concessions the company "could not continue to operate as a going concern." Conceding that it has been badly hurt by the nationwide housing slump, the Los Angeles-based company said it has defaulted on many of its secured loans and other obligations.
BUSINESS
April 27, 1991 | JUBE SHIVER Jr., TIMES STAFF WRITER
The nation's housing slump claimed another victim from the troubled real estate industry Friday when Los Angeles-based retirement home builder Leisure Technology and seven of its subsidiaries filed for protection under Chapter 11 of U.S. bankruptcy laws. Leisure, one of the nation's largest developers of retirement communities with estimated annual revenue of $183 million, was the second major home builder to seek protection in federal bankruptcy court this month.
BUSINESS
May 16, 1990 | TOM FURLONG, TIMES STAFF WRITER
In another sign of California's slowing real estate market, Los Angeles-based Leisure Technology announced Tuesday that it will not pay the upcoming quarterly dividend on its preferred stock, a move that should save the struggling home builder more than $500,000.
NEWS
August 7, 1989 | JANE FRITSCH, Times Staff Writer
A Los Angeles builder used a $27-million loan insured by the U.S. Department of Housing and Urban Development to build a golf course and help finance a lavish clubhouse for a private, gated retirement community in Oceanside, HUD records show. New homes in the development, called Leisure Village Ocean Hills, are selling for as much as $329,000 and feature individual back-yard fountains and hot tubs.
BUSINESS
September 5, 1988 | BILL SING, Times Staff Writer
At first glance, Leisure Technology Inc. hardly looks like a firm in danger of falling on hard times. The Los Angeles-based developer and marketer of adult retirement communities reported record profits in its latest fiscal year. It owns high-quality properties and has a reputation for developing fine housing. The aging of the American population bodes well for its growth prospects. But a closer look reveals signs of potential vulnerabilities, some analysts contend.
REAL ESTATE
June 28, 1987 | DICK TURPIN, Times Real Estate Editor
The 24th annual "Best in the West" home-building and design competition was dominated once again by Southern California builders and architects who snared 19 grand awards, including two coveted "Home of the Year" prizes.
REAL ESTATE
July 21, 1985
Michael L. Tenzer, chairman and chief executive of Leisure Technology Inc., has been elected a director of the National Housing Conference.
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