Hilco Real Estate announces auction of seven bank-owned properties
Northbrook, Ill. Hilco Real Estate announced that it will sell six land parcels, located in California, Louisiana and Nebraska, and a newly-renovated, 18,000 square foot fishing lodge in Alaska, through a sealed bid auction process. A bidding deadline of Aug. 28 has been set for all properties. Prospective buyers may submit bids on one, some, or all of the assets.
“The land parcels are ideal for retail, industrial, and/or residential/mixed-use development,” said Neil Aaronson, CEO of Hilco Real Estate. He added, “All of these properties are fundamentally strong and the portfolio offers bidders great diversity in terms of location and future development applications. We feel there will be significant interest by developers, users and investors.”
Geoffrey Schnipper, Sr. Project Manager for Hilco Real Estate, added “This sale has been structured to enable an orderly disposition of these assets in an accelerated timeframe. Through cooperation with the unnamed bank seller, most of the due diligence work has already been completed.”