Kennedy Wilson to auction $80.9 million commercial REO portfolio for U.S. Bank
Kennedy Wilson has been retained by U.S. Bank to auction off $80.9 million in commercial REO properties in six states. The portfolio consists of 12 properties in Arkansas, California, Colorado, Florida, Nevada and Oregon and includes Class A office buildings, retail centers, commercial land and oceanfront property that had been pegged for a luxury condominium project. The auction arm of Kennedy Wilson, a real estate investment and services firm based in Beverly Hills, Calif., is handling the property sale. Bids, due Sept. 21, may be submitted for individual properties or for bulk purchases. Funding must occur by Sept. 29 with closing by Sept. 30.