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| Thursday, Apr 24 2008 6:21 PM
Last Updated: Friday, Apr 25 2008 7:13 AM
Sacramento homebuilder Reynen & Bardis Communities Inc. has racked up a third default in Kern County.
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And just Wednesday, company co-founder John D. Reynen filed for personal bankruptcy protection at a federal court in Sacramento, the company announced, in an effort to restructure company debts.
The latest default notice recorded Tuesday in Kern shows Reynen & Bardis owes more than $5.7 million, with interest and fees, to Comerica Bank, or about $75,000 more than the original loan.
The money was borrowed two years ago against 67 acres north of Highway 178, east of Fairfax Road. The acreage is owned by a subsidiary created for the project, Reynen & Bardis Bavaro LP, also called Bavaro Owner LLC.
Another faltering Reynen & Bardis project lies just east of the site. River City Bank is suing over a delinquent $6.9 million loan taken out against 58 acres east of Morning Drive.
Last month, the developer defaulted on a $35 million construction loan from Guaranty Bank for a project in Wasco.
The once-prominent developer has eight projects in Kern. One site in Wasco, Hidden Grove, has been left sitting with homes partially built.