Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CENTURY CITY, CA-More than $100 million of distressed commercial real estate assets will go on the auction block here on July 30 at the Hyatt Regency Century Plaza, including REO properties, bank-ordered sales, developer close-outs and others. The $100-million total is expected to grow by auction date, according to Sperry Van Ness/Guardian, which will be auctioning the assets via its newly launched MarketMaker distressed real estate liquidation platform.

According to Karlin Conklin, chief operating officer of Sperry Van Ness/Guardian, the company has spent the last several months “filtering through hundreds of properties to identify the most sellable assets” for the auction. The offered assets will include dozens of individual commercial properties located in six western states, and SVN/Guardian says that some will be sold at up to 90% off the original loan balance.

Conklin explains that prospective buyers will work directly with a local Sperry Van Ness adviser who has both property and market knowledge. This approach, she says, is designed to ensure a smooth due diligence process and a timely closing.

SVN/Guardian has partnered with Real Capital Markets to launch a MarketMaker web site for the auction, which “will serve as a distressed property marketplace” and will provide direct access to auction and REO listings, Conklin notes. “MarketMaker will also serve as a secure platform for handling note sales for our banking clients,” she says.

Sperry Van Ness/Guardian is owned and operated by Guardian Real Estate Services LLC, a commercial real estate management and investment company that manages 125 multifamily assets totaling 12,000 units, as well as 600,000 square feet of commercial space.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.