Bankruptcy Auction Underway for High Profile Properties in Honesdale, PA
Wilkes-Barre, Pennsylvania (September 1, 2015)—The bankruptcy auction for the American Real Estate Investment Holdings, Inc. and its affiliated debtors portfolio of properties located in the downtown Honesdale, Pennsylvania area is now underway. Led by SVN Auction Services’ National Director, Louis B. Fisher III and Managing Director David E. Gilmore, CCIM, the offering consists of a two story leased office building, 70,000 plus square foot industrial warehouse, 28 room motel with restaurant, 2.82 acre commercial pad site and a lakefront residential home / resort. Initial written bids for these real estate assets are due by October 14.
“These are well positioned, very visible, high profile properties in the Honesdale market,” said Fisher.
Three of the commercial properties are located next to the other and the fourth commercial property is located across the street.
“The variety of the assets, their potential investment upside and their locations predominantly in the downtown area should make this an exciting and active auction event” said Fisher.
Qualified bidders can bid on a single property, a group of properties or the entire asset portfolio. Property tours will begin September 4th by special appointment. Qualified Bidders for each property —single, group and / or entire portfolio—will be invited for the live auction, which is scheduled for 10:00 AM in the United States Bankruptcy Court in Wilkes-Barre on Wednesday, October 15. For more information, visit www.PABankruptcyAuction.com.
Fisher, a nationally-recognized auction services and commercial real estate professional and Gilmore managing director, earned the American Real Estate Investment Holdings assignment from the United States Bankruptcy Court Middle District of Pennsylvania (Wilkes-Barre Division). In this effort, Fisher and Gilmore are working closely with the debtors and debtor’s counsel, Fitzpatrick, Lentz & Bubba.
About Sperry Van Ness Auction Services
SVN Auction Services is a provider of date-specific sales and special asset solutions. It encompasses an elite group of local and regional auction advisors throughout the United States who specialize in areas such as foreclosures, tax sales, multi-properties, receiverships and bankruptcies. The SVN Auction Services Team offers the industry’s most comprehensive spectrum of auction solutions—from rapid asset resolution and 30-day countdown asset sales to wide area and high impact/high promotion events. As part of one of the most recognized and reputable commercial real estate firms in the industry, the SVN Auction Services Team is supported by SVN International’s more than 1,300 commercial real estate advisors throughout the nation. This relationship provides outstanding opportunities for the SVN Auction Services Team to serve clients needing to move assets in accelerated timeframes and creates significant value for buyers and sellers. For more information, visit SVN Auction Services.
Louis B. Fisher III, CAI | National Director
SVN Auction Services, LLC