Hilco Real Estate, LLC announced July 13 as the qualified bid deadline for the bankruptcy sale of a city-approved luxury condominium development in the fast-growing city of Desert Hot Springs. Spanning approximately 25 acres, this parcel is accompanied by a valid city-approved development agreement until 2042. The plans for this luxury condo development include 402 total units and will be gated with an abundance of high-end amenities on site, making it one of the first developments its kind in that area.
Terry Rochford, SVP of Business Development at Hilco Real Estate commented: “The approved development agreement until 2042 ensures investors can move forward confidently with their plans.” This sale is being conducted by Order from U.S Bankruptcy Court Central District Of California (Riverside), Bankruptcy Petition No 6:23 – bk – 10602 – RB In re: The Residences at Ovation LLC .
An opportunity to invest in an innovative and luxurious condo project has arisen within Desert Hot Springs due to Hilco Real Estate’s upcoming auction on July 13th which offers potential buyers a streamlined process enabled by its accompanying City Approved Development Agreement valid until 2042!
The post July Auction for Desert Hot Springs Development Site Now Open appeared first on CRE MarketBeat.
