Tranzon Auction Properties has been selected by TD Bank to market and auction over 300 properties throughout the Southeast.
The properties represent a portion of the REO assets TD Bank acquired with the purchase of the Carolina First Bank and its subsidiaries. Located throughout North Carolina, South Carolina, Georgia and Florida, the properties are a mix of residential, industrial, commercial and hospitality real estate.
“We’re pleased to have been given the opportunity to assist TD Bank with the auction marketing of this OREO inventory,” said Thomas Saturley, president of Tranzon Auction Properties. “Our campaign kicked off in late February and the response has been strong thus far.”
The Portland, Maine-based company is partnering with its affiliates, Tranzon Integrity Partners in South Carolina and Georgia, Tranzon Fox in North Carolina, and Tranzon Driggers in Florida, to auction the bank-owned properties. The auction will be conducted online and in a live bidding format through the entire month of April.
“While there is still a lot of inventory to move through, buyers are indicating that they feel now is a strong time to buy and are selling off other assets in order to ride real estate up over the next few years,” said Walt Driggers, president of Tranzon Driggers. “One person even indicated he is selling his plane so he can invest that money in land.”