Irvine, Calif.—Auction.com (www.auction.com), an online real estate marketplace, successfully auctioned 12 multifamily properties totaling 1,716 units during a three-day online auction earlier this month.
The properties, which ranged in size from two to 496 units, are located in California, North Carolina, South Carolina, Georgia, Tennessee and Kentucky. They sold for a total purchase price of just under $43 million.
Half of the properties sold were more than 90 percent leased. The auction was held April 18 for four sellers that comprised special servicers, family trust and trust fiduciaries.