Auction sale nears on 2 Catlin properties in default
Two Nevada County parcels owned by the now-defunct Catlin Properties Inc. will be auctioned off later this month after the Sacramento-based company defaulted on its loans. Catlin owes Guaranty Bank about $9.5m on the properties, which include the 65-acre SouthHill Village development in Grass Valley and the former Indian Springs Vineyard. A number of liens were issued against the company in 2009, and Catlin also defaulted on properties in Rancho Cordova and Novato. Catlin Properties had properties elsewhere in the West; the office of then-owner Ben Catlin is now with Bluemont Properties, but the nature of the relationship between the two firms could not be ascertained. Officials of Bluemont Properties did not return a telephone call asking for comment.