NORTHBROOK, Ill., Oct. 6, 2015 (GLOBE NEWSWIRE) — Hilco Real Estate, LLC sold through an on-line auction program a 17.3 AC Development site located in the 20600 Block of Stone Oak Parkway in the prestigious Stone Oak Master Planned Community. The site is located near Loop 1604 and US-281 in NW San Antonio. Hilco Real Estate in cooperation with Providence CRES represented the Seller, Stone Oak TIC 2. The Buyer was a local investment group represented by Robert P. Braubach, a San Antonio International and Commercial Real Estate attorney. The new owner and developer for the site, Ironwood Partners, Ltd., has not indicated their plans for the site.
“After having been offered for sale for a number of years, the on-line auction program was executed over a 45 day marketing campaign that generated a number of interested buyers and closed 45 days following the auction” stated Paul A. Lynn, CCIM, Senior Project Consultant and Texas broker with Hilco. “We found the on-line auction program to be an effective method for the expedited sale of the site in about 100 days,” stated Lee Springer on behalf of the TIC.
About Hilco Real Estate: Hilco Real Estate, (“HRE”) a unit of Hilco Global (www.hilcoglobal.com), is headquartered in Northbrook, Illinois. HRE is a national provider of accelerated real estate disposition services for corporations, lenders, servicers, receivers, bankruptcy attorneys, estates, private owners, investment companies as well as local, state and federal government agencies. Acting as an agent or principal, HRE applies its vast experience to advise and execute strategies, helping both healthy and distressed clients to derive 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 EVP Chief Marketing Officer Hilco Global Office: 847-418-2712 Email: email@example.com