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ALPHARETTA, GA-Locally based Bank of North Georgia is auctioning as much as $100 million in distressed real estate by month’s end in what is being called one of the largest such local sales since the real estate crisis began, according to the Atlanta Business Chronicle. The bank, one of the largest in the Atlanta metropolitan area with $5.7 billion in assets, is selling the properties to private investment groups.

The auction is the largest conducted so far by Bank of North Georgia, which has been hard-hit by the real estate downturn, and surpasses the scale of other sales of distressed metro Atlanta property. The auction comes as banks across the country, from small community lenders to mammoth financial conglomerates, are struggling with how to liquidate toxic assets without pushing the banks into insolvency.

Click here to read more from the Atlanta Business Chronicle.

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