Louisiana Land Trust Board Approves Gilmore Auction & Realty Co. for Auction Services

Placing Storm Damaged Properties Back into Commerce through Public Auction

Baton Rouge, LA (May 20, 2010) – The Louisiana Land Trust’s Board of Directors approves Gilmore Auction and Realty Co. to assist the Louisiana Land Trust in the disposition of properties through public auction.  The Louisiana Land Trust has been charged with the disposition and maintenance of over 10,000 properties acquired through the Road Home Program that was created in the aftermath of Hurricanes Katrina and Rita.

Gilmore Auction & Realty Co. is a Kenner, Louisiana based company in business since 1986 that specializes in the sale of real estate at auction.  The firm utilizes all forms of accelerated marketing including open outcry auctions, sealed bids, dual bids and online bidding to accomplish the disposition of needs in its clients.

The Gilmore team has been involved in the planning and orchestration of successful auctions in 18 states from coast to coast.  Gilmore has sold over 10,000 properties while representing clients such as Jefferson Parish, St. Charles Parish, Gulf Coast Bank, First American Bank, First Guaranty Bank, Whitney National Bank, Federal Deposit Insurance Corporation (FDIC), Resolution Trust Corporation (RTC), U.S. Bankruptcy Court plus many others.

Michael Taylor, executive director of the Louisiana Land Trust said, “With Gilmore’s proven auction marketing techniques, the LLT is confident we are moving in the right direction to get these properties back into commerce.  Once these properties are in the hands of our citizens, we can confidently say that we are indeed recovering from the hurricanes that devastated our land.”

“The Gilmore Auction Team is very pleased to be assisting the Louisiana Land Trust Road Home Program with the disposition of Road Home properties,” says David E. Gilmore, president of Gilmore Auction & Realty Co.  “Our upcoming multi-property auctions of Road Home properties will be great opportunities for bidders to acquire prime Louisiana real estate.”

Gilmore Auction & Realty Co. is an affiliate of Sperry Van Ness International, one of the largest commercial real estate companies in the U.S.  The company has a network of 938 commercial real estate advisors located in 138 markets giving Gilmore a national platform for all auctions.

The Louisiana Road Home Corporation Act became effective on June 29, 2006 under Senate Bill No 445 creating a non-profit corporation.  The Louisiana Road Home Corporation dba Louisiana Land Trust (LLT) has been charged with the acquisition, disposition, purchase, demolition, renovation, improvement, leasing, or expansion of housing stock, including by not limited to housing stock as described by the Road Home Program designed by the Louisiana Recovery Authority and funded in whole or in part by the U.S. Department of Housing and Urban Development Block Grant (CDBG) Program in the aftermath of Hurricanes Katrina and Rita.