Auction.com has launched Auction Finance to assist investors with the financing of commercial and residential real estate.
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Auction.com hopes to increase liquidity for those who seek to use its core marketplace service by connecting them with preferred lenders. The new financing division will be able to help reach Auction.com's proof of funds.
Gordon Smith, the former managing director of Fortress Investment Group, will head the new division. Smith has an impressive resume that includes stints as director for the Union Bank of Switzerland's Global Principal Finance Group and BlackRock Financial Management.
Since 2007 Irvine, Calif.-based Auction.com claims to have sold over $26 billion in commercial and residential real estate.
