Jun
23
Upwards of $2B in Assets About to Move Through Auction.com
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Rick Sharga, EVP at Auction.comIRVINE, CA—Auction.com plans to bring more than $2 billion in real estate assets to sale at auctions over the next two months. In addition to its regularly-scheduled commercial and residential real estate auctions, the company will hold a $300 million custom auction eventon July 22nd and 23rd that includes a $100 million office complex located in Southern California and three multifamily assets located in Florida, Nevada and Arizona. Auction.com’s custom two-step process, typically conducted on higher-priced properties, allows interested bidders to first qualify for a “short list” by submitting a sealed indicative offer prior to the live auction. Indicative offers are due June 25.
“July’s custom auction is the latest example of how the market is accepting Auction.com as a reliable partner for moving high quality, traditional CRE properties,” said Auction.com’s executive vice president Rick Sharga. “Almost 50% of the properties we bring to auction today are non-distressed, desirable assets. It’s gratifying to see building owners and forward-thinking CRE brokers recognize that we can help them move their best properties more quickly, efficiently and profitably by leveraging internet technology.”…
“July’s custom auction is the latest example of how the market is accepting Auction.com as a reliable partner for moving high quality, traditional CRE properties,” said Auction.com’s executive vice president Rick Sharga. “Almost 50% of the properties we bring to auction today are non-distressed, desirable assets. It’s gratifying to see building owners and forward-thinking CRE brokers recognize that we can help them move their best properties more quickly, efficiently and profitably by leveraging internet technology.”…
