International real estate investment and services firm Kennedy Wilson has announced that the company sold more than $35 million of properties through auction and conventional sales last month.
Most recently, the company sold 15 luxury condominiums for more than $6 million at the Resort at Squaw Creek in Lake Tahoe. The auction took place on Saturday, April 30, 2011 with over 100 bidders in attendance and more than 40 bidders online. Five of the units ultimately sold to online bidders.
Online bidding has become an integral component of our auction process, Rhett Winchell, president of KW Auction Group stated. We are able to increase our pool of bidders across the country as well as in international markets and maximize results for the sellers.
The California-based company also produced sales of approximately $30 million through auctions and conventional sales in Southern California, Texas and Washington. Kennedy Wilson plans to auction an additional 90 condominiums in Los Angeles, Texas and Oregon over the next two months.