Done Deals: Sperry Van Ness/Guardian Launches Marketmaker Western Regional Commercial Real Estate Auction July 30 in Los Angeles

Friday, June 26, 2009

Sperry Van Ness/Guardian Launches Marketmaker Western Regional Commercial Real Estate Auction July 30 in Los Angeles

LOS ANGELES, CA– Sperry Van Ness/Guardian has announced the MarketMaker Western Regional Commercial Property Auction to be held July 30 at 2 p.m. at the Hyatt Regency Century Plaza in Los Angeles.

To accelerate sales for the region’s most motivated sellers of commercial properties, the company launched MarketMaker a new distressed real estate liquidation platform.

With more than 50 years of combined auction experience, Sperry Van Ness has sold more than 20,000 properties located across 46 states as well as Mexico, Puerto Rico and the Virgin Islands. Auction information can be found at http://www.svnmarketmaker.com/.

A summary of the participating property listings include:

· Dozens of individual commercial properties located in six western states
· In excess of $100 million in assets are aggregated (and growing).
· Properties are REO, bank ordered sale or developer close outs.
· Auction inventory is pre-qualified as “motivated sellers” only.
· Properties will be sold at up to 90 percent off the original loan balance.
· Each listing will have a qualified, local Sperry Van Ness listing advisor to improve due diligence efficiency.

Property listings are welcomed before June 30, subject to our pre-qualification criteria. The brokerage community is encouraged to participate in the auction as the site provides SHARElink, a proprietary website tool that allows agents to securely register clients and collect a cooperative fee. This on-line protection feature is unique to MarketMaker and is a first in the auction industry.

“Our team has spent the last several months filtering through hundreds of properties to identify the most sellable assets for this auction,” said Karlin Conklin, Chief Operating Officer of Sperry Van Ness/Guardian.

“With our solution, prospective investors will work directly with a local Sperry Van Ness advisor who has both property and market knowledge - ensuring a smooth due diligence process and timely closing. But ultimately, investors decide the value and the final price of this inventory.”

“Our site will serve as a distressed property marketplace. Real estate professionals and investors will have direct access to our auction and REO listings. MarketMaker will also serve as a secure platform for handling note sales for our