Bankruptcy Auction Of Occupied Apartment Complex In Washington, DC

The Cole Gardens Apartments will be offered for sale at auction on Wednesday, January 15,2014, pursuant to an Order of The United States Bankruptcy Court for the District of Maryland. The property, which consists of sixty six (66) 3BR & 2BR garden style units on 1.66 +/- acres, is currently 75% occupied.

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Washington, DC (PRWEB) December 04, 2013

The Cole Gardens Apartments will be offered for sale at auction on Wednesday, January 15, 2014, pursuant to an Order of The United States Bankruptcy Court for the District of Maryland. The property, which consists of sixty six (66) 3BR & 2BR garden style units on 1.66 +/- acres, is currently 75% occupied.

The established “Bidding Procedures and Terms” by the court, requires all interested prospects to be qualified bidders for the live auction. As part of those procedures, initial written bids are due on January 10th followed by the Live Auction on January 15th.

The complete Bidding Procedures and Terms are posted in the data room / document vault at http://www.colegardensAPTauction.com along with other pertinent information for this Bankruptcy Auction; Such as, The Court order outlining the required processes and steps for qualifying to bid, FAQ’s, leases, profit and loss statements, broker | client registration form, important dates and more.

The website: http://www.colegardensAPTauction.com also contains contact information for Sperry Van Ness, the court appointed marketing agent for specific property questions and for scheduling guided property tours. A 1.5% Broker Cooperation Fee is available to licensed real estate brokers subject to court approval.

“The Cole Gardens Apartments represent an opportunity for the investment community to acquire a large number of multi-family units located only minutes from downtown DC” states Sperry Van Ness National Auction Director, Louis B. Fisher III. “The property is strategically located with accessible public transportation network(s) to downtown DC and Prince George’s County, Maryland”, continues Fisher.

Founded in 1987, Sperry Van Ness is one of the largest and fastest-growing commercial real estate brokerage firms in the industry, with more than 850 advisors in over 150 locations. The firm is built to immediately market every one of its clients’ properties to the entire brokerage community. Sperry Van Ness delivers results for clients through a proven business model that provides advanced marketing and technology tools. Based in Irvine, California, the firm operates internationally and provides brokerage, consultation, asset management, property management, leasing, accelerated marketing, and auction services. Sperry Van Ness transactions total billions of dollars annually in office, multifamily, retail, industrial, self-storage, hospitality and land transactions.

SVN Auction Team members are fully integrated with Sperry Van Ness International and the 850 member advisors. Collectively, the team boasts more than 100 years of experience in planning, orchestrating and conducting successful auctions and sealed bid sales throughout North America, Mexico, Puerto Rico, and the U.S. Virgin Islands.

All Sperry Van Ness Offices Independently owned and operated.

CONTACT INFORMATION
Louis B. Fisher III, CAI
Sperry Van Ness Auction Services
954.931.0592
fisherl(at)svn(dot)com

David E. Gilmore, CCIM
Sperry Van Ness Auction Services
504.468.6800
david(dot)gilmore(at)svn(dot)com


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