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CEX Auctioning 44 Acres of Prime Intracoastal Land

HUTCHINSON ISLAND, FL-JP Josephson, managing director of the Carlton Group, tells GlobeSt.com he expects 2011 to be a busy year for loan auctions.

By Jennifer LeClaire | Updated on January 20, 2011

HUTCHINSON ISLAND, FL-It’s been rightly said that they aren’t manufacturing any more waterfront land. That’s one reason why Carlton Exchange is expecting plenty of action on the auction of a $24-million loan secured by 43.7 acres of prime intracoastal waterfront land in Hutchinson Island.

The site offers 17 single-family home lots directly across AIA from the Atlantic Ocean, with 1,200 linear feet of direct Intracoastal waterfront in Martin County, north of Palm Beach County. Investors can bid on the non-performing loan sale, which has about $24 million in unpaid principal balance, at a discount.

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