In a release, Carlton notes that the pool includes "a potpourri of top development, busted condo and residential lots and single-family home opportunities for developers and individual investors who are looking to acquire excellent assets at their current market value." Seventy percent of the assets are located in Florida, with the remainder located in Texas, Hawaii, New Jersey, Oregon, Missouri, Washington, Kansas and New Mexico. They include residential land lots, luxury waterfront and residential development parcels and hospitality, office, industrial and retail assets.

The Florida assets include a 1.8-million-square-foot retail, residential and hospitality development site in Orlando; a 554-acre mixed-use residential site in Kissimmee, containing 1,650 housing units and more than 100,000 square feet of retail space; two partially completed medical office condominiums in Bonita Springs; and a 90,000-square-foot former K-Mart property in the central part of the state.

The Texas components of the pool include a six-building, 111,917-square-foot vacant neighborhood retail center located across from a Wal-Mart SuperCenter in San Antonio; a 10,382-square-foot office property in Dallas that is 97% occupied; and a 3.41-acre, waterfront residential high-rise development, also in Dallas. All of the assets in the pool are being offered on a competitive sealed-bid basis with staged bid dates from Dec. 11 through Dec. 17, according to Carlton.

In May, Carlton managing director Thomas McCarthy told GlobeSt.com that the company's loan and REO sales have attracted a wide range of investors or investor groups, including "hedge and opportunity funds. They often have a great deal of capital and can make a compelling case that they can close. We're seeing previous developers who see opportunities to come back to that space for the long-term planning; they can buy now at very cost effective rates to position themselves for the recovery." National as well as local real estate players have also been interested, McCarthy said at the time.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.