HOUSTON – JDH Capital LLC, a real estate development company, submitted the winning bid of $28 million for Sam Kane Beef Processors LLC.  JDH Capital specializes in property development services for retail shopping centers in addition to real estate management, leasing and construction services.

Court documents state that $1.5 million will be used to pay outstanding 2017 and 2018 property tax bills for Nueces County. The remainder is to be allocated and directed by Rabo AgriFinance Inc. JDH Capital also is prepared to invest $20 million from available cash to resume operations at the beef processing facility and provide “…ongoing environmental and operational capex, working capital, and other operating expense related to facility,” court documents state. “Purchaser intends to establish a relationship with a local Corpus Christi bank for these funds.”

Sam Kane Beef had been operating under court-ordered receivership since October 2018 and later filed for bankruptcy under Chapter 11 of the US Bankruptcy Code in January.