CREC Closes 15 REO Deals Worth $100M

MIAMI—Call it yet another sign that distressed assets are flushing through the Florida sales cycle. Continental Real Estate Companies (CREC) brokered the sales of 15 lender-owned assets valued at nearly $100 million in the four quarter of 2011.

The deals come after three years of market instability that saw the value of Florida’s distressed real estate top $12 billion while asset values dramatically declined. During those 36 months, CREC’s distressed asset practice managed 35 court-appointed receiverships, ultimately positioning the firm to maximize asset value and dispose of the properties via sale.