IRVINE, CA-Auction.com is holding a commercial real estate auction next week that will feature $450 million of assets and notes. The event will be in two parts with properties changing hands beginning on Nov. 5 and notes starting to trade on Nov. 6.

The commercial real estate sale ends on Nov. 7, while the notes sales ends on Nov. 8.

The 147 commercial real estate assets on sale are located in 28 states and across virtually every property type. There are even some non-traditional buildings up for grabs, including a portfolio of school buildings in the Cincinatti area.

“We are a great reflection of the market, so we have a lot of apartments and a lot of retail available for sale,” Eric Paulsen, co-chief executive officer of Auction.com, told GlobeSt.com. “We're in the perfect storm for real estate investors. There is a lot of product in the wrong hands, and where else are you putting your money right now? It's a good time for real estate.”

So far this year, Auction.com's events have sold about $4 billion in assets. Paulsen expects about $1 billion in additional transactions to round out 2012 and says some firms are still looking for buys before the year ends.

In next week's particular line up, there are both distressed assets and properties that are fully leased and profitable. They are in primary markets, and there are some in secondary markets as well, which sell better than expected, according to Paulsen.

“We've got a lot of loyal followers who will buy in the secondary markets all day long because they see better opportunities for them,” he says. People are also looking in tertiary markets for hidden gems.

The note auction is expected to attract more foreign buyers because it is an easier way for them to gain a foothold in the US, Paulsen says. Auction.com sees buyers from Australia, Canada, England and other countries.

This year Auction.com is seeing more sellers of real estate than notes. Another trend Paulsen sees is less office product on the market compared to other property types.

“I just don't see as many office sellers selling in this market,” he says, pointing out that most office owners are institutional entities. “They have more staying power.”

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