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SEPTEMBER 24 BID DEADLINE SET FOR BANK DIRECTED SALE OF REO PROPERITIES

20:00 EDT 10 Aug 2015 | Globe Newswire

NORTHBROOK, Ill., Aug. 11, 2015 (GLOBE NEWSWIRE) -- Hilco Real Estate, LLC today announced the online auction date of September 24, 2015 for a portfolio of real estate assets owned by RiverWood Bank based in Baxter, Minnesota. The sale includes a total of 12 assets, ranging from office and commercial facilities to prime development land, located north of Minneapolis, Minnesota.  

Among the 12 assets being sold are a number of marquee properties, including a 20,000 square foot commercial office building in Monticello with easy access to I-94 and Highway 25; an 8,072 square foot, 80% leased commercial building in Big Lake with great visibility and access along Highway 10, as well as several commercial and residential lots in Big Lake and residential lots in Lake Mahnomen at Crosby, MN. A complete list of the 12 properties within the portfolio, including general descriptions and due diligence information is available for viewing at:

http://www.hilcorealestate.com
 
The format and structure of the sale allows for the properties to be purchased individually or in any combination. The online auction is scheduled to begin at 9:00 am (CT) on September 24, 2015.  

Commenting on the portfolio of properties being sold, Jeff Azuse, Senior Vice President of Hilco Real Estate, said, "The assets in this portfolio offer a number of use and location-related attributes that will be very attractive to a wide variety of potential buyers. As such, we expect this sale to attract active interest from a broad spectrum of real estate investors, developers and end users."  

Mr. Azuse added, "Virtually all sites are ideal for development or reuse. The auction represents a tremendous opportunity with many of the sites being located close to interstate highways and major state routes."

For more information about bid qualifications and further details about the properties available, please visit www.hilcorealestate.com  or contact a member of our transactional team at 855-755-2300.

About Hilco Real Estate, LLC:  Hilco Real Estate, LLC ("HRE"), a Hilco Global company www.hilcoglobal.com, is headquartered in Northbrook, Illinois (USA).  HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies & techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.
 

CONTACT: Gary Epstein
         Hilco Global
         Office: 847-418-2712
         Mobile: 847-323-4943
         Email: gepstein@hilcoglobal.com

Hilco Global

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