Auction.com sold 64 multifamily assets in an online auction covering three days last week. The assets sold to online bidders included 46 properties and 18 notes comprised of 9,300 units and totaling $424 million.
The auction featured assets in 29 states, including: Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Kentucky, Massachusetts, Maryland, Mississippi, Minnesota, Missouri, North Carolina, Nebraska, New Jersey, Nevada, New York, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Washington, Wisconsin and West Virginia.
The assets in the auction were viewed 230,884 times, 5,926 confidentiality agreements were signed and there were 2,366 registered bidders who had submitted cash deposits in advance to participate in this online event. These registered bidders submitted 1,821 bids on the 64 assets. In addition, each asset received, on average, 22 bids. The highest-priced individual asset of the auction sold for $55.1 million.