SVN Auction Services Coordinates Sale of Well-Known Downtown Baltimore Apartment Complex
SVN Auction Services team expedites close of Chapter 11 bankruptcy property within eight days
SVN Auction Services (http://svnauctions.com)
“The successful sale of this property can be attributed to SVN Auction Services’ thorough understanding of the protocols involved with bankruptcy auctions, experience in handling multi-family assets, and knowledge of the local market,” said Louis B. Fisher III, SVN Auction Services’ lead auction advisor on the bankruptcy sale.
In addition to Fisher and other regional team players, local SVN commercial real estate advisors Tony Casalena, CCIM, and Justin Verner were instrumental in the successful coordination of this property event. The auction attracted serious interest from major equity funds and property owners in 14 states with numerous prospective purchasers entering the buyer momentum process and inspecting the property. There were 129 entities that accessed the data room/document vault for the due diligence on the asset. In addition, 34 groups attended the guided property tours directed by Casalena and Verner
SVN Auction Services encompasses an elite group of local and regional auction advisors throughout the Mid-Atlantic region and beyond. Currently undergoing a national expansion effort, SVN Auction Services consists of industry experts in areas such as foreclosures, tax sales, multi-par and bankruptcies. It offers the industry’s most comprehensive spectrum of auction solutions—from rapid asset resolution and 30-day countdown asset sales to wide area and high impact/high promotion events.
Baltimore’s commercial real estate market—specifically multi-family assets— continues to remain strong, according to Casalena. Downtown Baltimore is expecting hundreds of apartments to open in the next few years based on market demand and high occupancy rates. There are a number of underused office buildings with plans to convert to apartments and investor appetite for multi-family development continues to grow. SVN Auction Services has been very active in the local market and throughout the state. On a national level, it has been involved in bankruptcy sales in nine states during the last 12 months.
About Sperry Van Ness Auction Services
SVN Auction Services is a provider of date-specific sales and special asset solutions. It encompasses an elite group of local and regional auction advisors throughout the United States who specialize in areas such as foreclosures, tax sales, multi-par and bankruptcies. SVN Auction Services offers the industry’s most comprehensive spectrum of auction solutions—from rapid asset resolution and 30-day countdown asset sales to wide area and high impact/high promotion events. As part of one of the most recognized and reputable commercial real estate firms in the industry, SVN Auction Services is supported by SVN International’
SVN Auction Services