Auction.com, the nation's leading real estate auctioneer and loan sales advisor,has announced its upcoming online auctioning of over 325 Non-Performing Notes & Commercial REO Properties located throughout the Southeastern U.S., representing the largest online auction of commercial real estate to date for the company that pioneered modern real estate auctions.
The online auction for properties and collateral spans over 18 days, beginning on September 19, 2011 and concluding on October 6, 2011. It includes multi-family, mobile home parks, retail, mixed-use, hotel, land, self-storage, office, industrial, and special-purpose assets. Starting bids range from $500 to $10.5 million.
After extremely successful auctions in Arizona, Nevada and Texas, our clients are requesting additional location-specific events, says Auction.com CEO, Jeff Frieden. Based on early call volume and web traffic, there is strong interest for real estate and non-performing loans from opportunistic investors, particularly in areas like the Southeast.
Auction.com's platform is the only transparent vehicle in the marketplace where everyone gets to compete on a level playing field.
The online auctions are currently comprised of 151 assets in Florida, followed by 98 in Georgia, 38 in North Carolina, 16 in Tennessee, 13 in Alabama, 14 in South Carolina, seven in Virginia, five in Mississippi, and two in both Kentucky and Maryland.