Opportunities include Retail, Hospitality, Industrial,
Office, Land and Residential Property Types
Chicago, IL – February 14, 2013 – Douglas Johnson, managing director of CBRE Auction Services, announced today that a major financial institution has retained CBRE to auction 65 properties in 22 states. The properties will be sold on an individual asset basis in online auctions on March 19, 20 and 21, 2013.
“The financial institution was seeking a disposition process that would widely and broadly market and sell these properties on a date certain,” remarked Paul Galanis, managing director of CBRE Auction Services.
The auction presents a variety of investor and owner-user opportunities across retail, hospitality, industrial, office, land and residential property types. The assets are located throughout 22 states to include Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Indiana, Kansas, Louisiana, Maryland, Maine, Minnesota, Missouri, North Carolina, New Jersey, New Mexico, Ohio, Pennsylvania, Tennessee, Texas and Virginia.
According to Mr. Johnson, “This is a tremendous opportunity to acquire well located, lender-owned assets at your price.” Mr. Johnson added, “It is rare that a lender will offer this many properties at auction pricing.”
The properties will be sold in online auctions on an individual asset basis on March 19, 20 and 21, 2013. Initial earnest money deposits are required in order to participate. Property inspections will be held by appointment only as outlined on the auctioneer’s website www.cbre.com/NationalPortfolioAuction. CBRE representatives will be available to answer questions about the auction process, procedures, as well as the properties. Detailed property information will also be available for review including the purchase and sale agreement. For this, and other information about the auction, including the terms and conditions of the auction and a brochure, prospective bidders should visit www.cbre.com/NationalPortfolioAuction or call CBRE Auction Services at 800-815-1038.
Led by Douglas Johnson, Paul Galanis and Patrick Connell, CBRE Auction Services assists lenders, investors and other owners in the disposition of commercial real estate assets. The group joins forces with experts in each of CBRE’s business lines to develop a comprehensive marketing program designed to achieve client goals and the selling of the asset(s) on a date certain. More information on CBRE Auction Services can be found at www.cbre.com/auctionservices.
About CBRE Group, Inc.CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.