CEX Auctions $10 Million in Nonperforming Loans

The Carlton Exchange has been retained as the exclusive seller of $10 million of nonperforming first-mortgage loans secured by eight commercial office, retail and hospitality properties located throughout the country.

The loans are being offered on a competitive real-time-bid basis and prospective bidders may bid on individual assets, bidder-defined asset pools or on the entire portfolio.

Prospective bidders may bid at anytime by completing and submitting a form that can be found on the Carlton Exchange website (http://www.carltonexchange.com). The last day for real-time bidding is Nov. 17.

Some of the loan assets include a three-story, 8,120-square-foot mission-style boutique hotel in Colorado Springs, Colo., initially built in 1921 and renovated in 1993. The historic inn is located at the entrance of North Cheyenne Park and Pike National Forest.

In Sarasota, Fla., the company is offering a 6,113-square-foot, standalone office building constructed in 2004 that is located within a larger business complex in the Venice, Fla., submarket.

Also up for grabs is a 7,100-square-foot multitenant retail building in Douglasville, Ga., recently renovated and located in the Greater Atlanta area with excellent access to the area's major thoroughfares.

In Goshen, Ind., the loans being offered include a 207-key, full-service hotel with meeting rooms, game room, restaurant and lounge. In Washington, Ind., there are two buildings totaling 15,746 square feet previously used as a warehouse and office.

A 34,800-square-foot family entertainment center located in Grawn, Mich., consists of a bowling alley, billiards, laser tag, arcade center, miniature golf, banquet room and sports bar.

And finally in Brockport, N.Y., up for bid is a 3,100-square-foot building utilized as an automotive service facility and includes four service bays.