of Airway Heights, is designated as APZ-2. Any questions
regarding development restrictions or allowable uses should
be directed to the City of Airway Heights at 509-244-2552.
BANKRUPTCY CASE # 11-01020-FLK-11
The properties are operating under a Chapter 11 Bankruptcy
Plan confirmed by the U.S. Bankruptcy court for the Eastern
District of Washington, in re: Daiichi Solar World, LLC, Case
Number 11-01020-FLK-11. There has been a payment default
under the plan.
All documents related to the bankruptcy plan filed in
January of 2012 for the Solar World Estate properties are
public information. All of these documents can be accessed
electronically. Access to these documents is through use of the
PACER website (Public Access to Court Electronic Records).
Instructions for access are included in the Supplemental
Information Package. Realty Marketing/ Northwest does not
provide any warranty regarding the accuracy or completeness
of any information contained within these files included with
the bankruptcy plan. The bidder is encouraged to verify the
accuracy of any findings or reports through independent
review and/or study.
UTILITIES
All public utilities are available to both properties. The City of
Spokane provides services for water and sewer to Solar World
Estates North. Sewer and water service is provided by the City
of Airway Heights to Solar World Estates West. Comcast is the
cable provider and Inland Power and Light is the electricity
provider to both properties.
Services are not metered separately for any of the buildings
and the landlord is responsible for payment of all utilities.
ENVIRONMENTAL
There are no known environmental concerns associated with
either property.
6
Top: Solar World Estates West was constructed between 1987-1990 with 94 units in
24 four-plex buildings
Bottom: SolarWorld Estates North was constructed in 1988 and contains 8 four-plex
buildings.
R E A L T Y M A R K E T I N G / N O R T H W E S T
The secured lender, under the terms of the
Deed of Trust, has initiated a Trustee’s Sale, to
be conducted on April 12, 2013 at 10 a.m. at the
Spokane County Courthouse.
Solar World Estates contains a total of 126 rental
units in two locations, within the greater Spokane
market, with 4.1± acres of excess commercial land
in proximity to major employment, transportation,
and commercial centers.
Solar World Estates West, with 94 units and the
excess land with commercial zoning, is located in
Airway Heights, between Spokane International
Airport and Fairchild Air Force Base, the region’s largest employer with over 5,200 employees. Northern Quest Resort and
Casino, the Inland Northwest’s only AAA rated Four-Diamond Casino Resort, is nearby, and is owned by the Kalispel Tribe
of Indians. The Airport Technology and Business Park, by the Spokane International Airport, is within the Spokane Foreign
Trade zone, providing incentives for future business development.
SolarWorld Estates North, with 32 units, is located fivemiles north of downtown Spokane, near NorthTownMall andWhitworth
University, and has excellent access to both Highways 395 and 2 (North Newport Highway).
Opportunity & Strategic Location
Solar World Estates North contains 32 one bedroom/one bathroom apartments
94 Unit Solar World Estates West and Excess Land
Parcel 1
Northern Quest
Resort and
Casino
Airway
Heights
Spokane
County
Raceway
Parcel 2
Spokane
Hwy. 2
Parcel 3
Parcel 4
To Fairchild Air
Force Base
South
Lawson St.
1,2,3,4,5 7,8