MIAMI-Since the beginning of 2010, the Carlton Exchange, an online commercial and residential real estate auction site, has been hired to sell over $1 billion worth of commercial real estate properties and loans in Florida, through a sealed-bid process. Sealed bids for its latest offering, which is composed of almost all Florida properties, a $188-million portfolio, are due by June 4th.

The portfolio includes a loan for a shopping center in Boynton Beach and a $10 million loan for 12 remaining units in a six-story luxury condominium in Jacksonville Beach. Florida is one of the top five states which have the most distressed assets, says Howard L. Michaels, chairman of the Carlton Group, which runs the auctions.

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