PHOENIX-Paulson & Co. Inc., a New York-based hedge fund operator, expects to win the bid for a property owned by Engle Homes in Nevada, Colorado and Arizona, through its stalking horse bid of $42.426 million during a foreclosure auction held on Aug 20.
Engle Homes' parent company Technical Olympic USA has been liquidating its assets since filing for bankruptcy protection in Florida's Bankruptcy Court. Silver Fern Management acted as Paulson & Co.'s advisor during the auction. For the full story, go to Business Real Estate Weekly.
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