Operators of the financially troubled South Bay Expressway are in discussions with potential buyers including private sector businesses and Sandag. Indebtedness and a delayed opening contributed to a bankruptcy filing about a year ago, according to its CEO Greg Hulsizer.

Operators of the financially troubled South Bay Expressway are in discussions with potential buyers including private sector businesses and Sandag. Indebtedness and a delayed opening contributed to a bankruptcy filing about a year ago, according to its CEO Greg Hulsizer. Photo by Photo courtesy of South Bay Expressway L.P. 

SOUTH BAY EXPRESSWAY L.P.

CEO: Greg Hulsizer.

Financial information: For the fiscal year ending June 30, 2009, the South Bay Expressway L.P. had revenues of approximately $21 million and adjusted earnings before interest, taxes, depreciation and amortization, of approximately $3 million. As of March 22, 2010, the bankruptcy petition date, the company had approximately $640 million in book value of total assets and approximately $570 million in book value of total liabilities. As of Dec. 29, 2010, the value of the asset was declared to be $287 million.

No. of local employees: 50.

Investors: Macquarie Atlas Roads and Macquarie Infrastructure Partners.

Headquarters: Otay Mesa.

Year founded: The current owners financed the project in 2003.

Company description: Owner and operator of a 9.3-mile toll road, developed and operated under a public-private partnership with the state of California. It holds a 35-year lease with Caltrans to own and operate the toll facility until it returns to state ownership.

Operators of the financially troubled South Bay Expressway L...

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