The Associated Press
Posted: 11/22/2010 08:22:47 AM PST
VENTURA, Calif.—Former New York Mets outfielder Lenny Dykstra took out $18 million in loans three years ago to buy a California estate overlooking the Sherwood Country Club Golf Course.
It sold at bankruptcy auction last week for $760,712.
A junior lienholder bought the 12,713-square-foot Lake Sherwood home. Index Investors representative Jeff Smith says he was the lone bidder at the Ventura County courthouse on Nov. 17.
There’s still a $13.5 million senior mortgage held by J.P. Morgan Chase & Co. The Oregon-based private equity firm is negotiating with J.P Morgan to deal with that debt.
Dykstra filed for bankruptcy protection in July, saying he owed more than $31 million and had about $50,000 in assets.
Dykstra told the Ventura County Star on Saturday that he doesn’t know anything about the auction.