Auction.com, the US real estate online marketplace, has announced the launch of its web-based auction platform in Germany. The auction platform provides for the first time, according to Auction.com, 'unprecedented transparency' and single-point access to commercial real estate investment opportunities throughout the country.
Auction.com, the US real estate online marketplace, has announced the launch of its web-based auction platform in Germany. The auction platform provides for the first time, according to Auction.com, 'unprecedented transparency' and single-point access to commercial real estate investment opportunities throughout the country.
'The launch of our offering in Germany is a major step forward in our plans for global expansion and the future direction of our company,' said Ken Rivkin, Co-CEO of Auction.com Commercial.
The properties being auctioned on the German website are typically owned by major financial institutions, real estate investment funds or local owners.
The assets for sale fall primarily into the multi-family, industrial, retail, office, warehouse and logistics sectors, while mixed-used properties and pools of assets will also be considered.
The first auction is planned for the beginning of December 2012 and includes only commercial real estate assets, although it is expected that subsequent auctions will also include loans and bidding guarantees (Ausbietungsgarantie).
