LOS ANGELES — Veteran public finance banker L. William Huck and real estate lawyer and developer Todd Anson have formed San Diego-based Common Bond Capital Partners to capitalize on an estimated $5 billion in defaults expected in the land-secured municipal bond market.

Though plenty of companies have formed since the economic crash to capitalize on distressed debt underlying real estate projects, Huck and Anson say they have a unique approach to an untapped market. The timing is right because land-secured bond defaults are a lagging economic indicator, Huck said.

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