SAN DIEGO—Heritage Global Inc., a leader in distressed and surplus corporate and financial asset valuations and transactions, has launched Heritage Zetabid Realty Services a new real estate auction platform and services division.

Heritage Zetabid (HZRS) complements and expands Heritage Global's existing asset valuation, advisory, and auction capabilities by adding new service offerings and experienced industry professionals to effectively market and monetize clients' commercial, industrial, and luxury/bank-owned residential real estate assets.

Heritage Zetabid Realty Services is a strategic alliance between Heritage Global and Zetabid, a leading provider of real estate marketing services that delivers a transparent open bidding platform for buyers to purchase real property. Since it was founded in 2008, Zetabid has successfully sold over 3,000 properties.

In conjunction with the launch of HZRS, Michael Davin, the co-Founder of Zetabid, has been named managing director with responsibility for overseeing the division's operations including developing and growing its customer base, implementing and executing its sales and marketing strategies, and assisting in the implementation of Heritage's real estate-focused asset monetization and auction strategies, products and services. Davin has nearly three decades of real-estate industry experience. Prior to founding Zetabid, Davin co-founded Catalist Homes, a California based real estate firm, and earlier in his career worked for Grubb and Ellis.

“Heritage Global is focused on building our organization into a leading provider of diversified global asset solutions and services,” said Heritage Global CEO Ross Dove. “The launch of Heritage Zetabid Realty Services is another step in our plan to strategically grow our product portfolio by adding new complementary capabilities that serve a broad range of businesses while creating further value for our corporate clients, customers and investors. 

“Over the years, I have worked together with Michael Davin in various capacities and on a number of real-estate auctions. He brings to his new role at HZRS a deep understanding of the dynamics of commercial and luxury residential real estate and a proven record of forging strong relationships with customers.”

Heritage Global is focused on corporate and financial asset liquidation transactions, valuations and advisory services. Heritage Global focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets in twenty-eight global manufacturing and technology sectors. The firm specializes both in acting as an adviser, as well as acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, related intellectual property, and entire business enterprises.