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Carlton Markets Nine-State Loan/REO Pool

NEW YORK CITY-The pool includes a variety of residential development parcels as well as commercial assets, located mostly in Florida.

By Paul Bubny | Updated on November 09, 2009

NEW YORK CITY-Carlton Group chairman Howard Michaels announced Saturday that the company has been retained to conduct a sealed bid loan and REO sale of $350 million of assets in nine states, with the majority located in Florida. The sale is being conducted through Carlton’s auction platform launched in August, Carlton Exchange; the company did not disclose the sellers.

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.

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