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SVN Moecker Realty Auctions completes sale of 22 lots in upscale Windmill Reserve at Weston in South Florida

02/08/2017

Weston, FL –  SVN Moecker Realty Auctions completed the court-ordered sale of 22 vacant residential lots in Windmill Reserve at Weston on Feb. 8. U.S. Bankruptcy Judge Raymond Ray approved the final purchase price for the lots of $6.15million, submitted by Windmill Reserve Holdings LP, an affiliate of 13th Floor Investments.

Windmill Reserve Corp., is an entity owned by the Estate of Victor Posner. Phil von Kahle, of Michael Moecker & Associates, became the Curator of the Estate and president of Windmill Reserve Corp., which filed chapter 11 bankruptcy in August 2016.

Reynoso hammered out the transaction with fellow SVN Moecker advisor Keith Kidwell. von Kahle noted that Jordi Guso and Paul Singerman of Berger Singerman, counsel for Windmill Reserve Corp., assisted the debtor substantially and conducted the auction.

“This was a complex sale and we had to overcome several challenges to get the parties to the auction table,” said Will Reynoso, MBA, advisor with SVN Moecker. “We were dealing with a litigious party and there was a lot of ‘hair’ on the case and property.”

The 22 lots comprise almost 20 acres of a 139-acre lakefront housing development in Weston. The offering was for 15 one-acre lots, five lots covering a half-acre each and two that were a third-acre each. Houses in Windmill Reserve sell in a range of about $2 million to $10 million.

About SVN Auction Services

SVN Auction Services 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, SVN Auction Services is supported by SVN International, which features 200+ locations serving more than 500 markets.  For more information, visit SVN Auction Services or SVN Moecker.

Contacts 

Will Reynoso, MBA, Advisor, SVN Moecker Realty Auctions 954-252-1049 / wreynoso@svn.com

Ken Zeszutko, Zeszutko Corp.-PR on behalf of SVN Auction Services 321-213-1818 / zeszutko@zcorp-pr.com

Source

SVN Auction Services

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