Auction.com to hold third German offering

Auction.com, the US online real estate market place, will conduct two sales evebnts in Germany involving 46 assets valued at over €100 mln.

The first auction, a sale of multifamily homes, will take place between 1-4 December and the second, an auction of commercial real estate, will take place from 2-5 December. Both auctions are fully booked.

'We are excited to extend our offering in Germany following our successful auctions in December 2012 and June of this year, which demonstrated the value of our unique Internet-based business model,' said Ken Rivkin, executive vice president and managing director of Auction.com’s commercial division.

He added: 'The level of interest in our previous auctions and the fact that our upcoming auctions are fully booked shows that European real estate sellers appreciate the opportunity to market their assets to investors throughout Germany and abroad via our advanced online-bidding platform.'

The properties offered for sale are located across Germany, with a focus on North Rhine-Westphalia and Thuringia. The assets, with a combined area of 170,000 m2 include offices, supermarkets, or retail and industrial sites.

Auction.com said there are no starting bids for the properties in these auctions. Bid increments will be set at the start of the bidding period and adjust as the auction progresses.