AmeriBid LLC Sells 84 Properties at Absolute Auction in San Antonio on Behalf of the San Antonio Housing Authority (SAHA)

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SAN ANTONIO, Sept. 24, 2013 (GLOBE NEWSWIRE) -- On Saturday, September 21, 2013, the San Antonio Housing Authority (SAHA) sold 84 homes, residential and commercial lots at their first auction in San Antonio. All buyers walked out with fully executed contracts and all closings are scheduled to occur within 30 days. AmeriBid LLC acted as Auctioneer with Texas Real Estate Broker Paul A. Lynn & Associates, LLC. Nearly 300 people were in attendance at the San Antonio Henry B. Gonzalez Convention Center. The properties sold were surplus properties within the SAHA portfolio that had been obtained from various sources over a number of years.

"This auction was very successful for SAHA. The funds obtained by SAHA from this sale will be used to further SAHA's primary mission of providing affordable housing opportunities within the San Antonio community," states Kathy McCormick, Director of Real Estate Development for SAHA. "SAHA is pleased that these properties will be returned to the private sector to serve as another tool in the on-going effort of rebuilding neighborhoods and reducing blight throughout San Antonio."

"AmeriBid is pleased to be able to work with SAHA on this Auction. This auction is a continuation of a number of Absolute Auction programs AmeriBid has executed over the last few years for many Public Agencies across the country. The auction method is a very effective, transparent process and is a perfect way to pinpoint today's true market value and transition properties from the public to the private sector. Auctions act as a catalyst to rebuild our urban communities," comments Paul A. Lynn, CCIM, Regional Director and Broker with AmeriBid LLC.

The talented AmeriBid auction team was led by Paul A. Lynn, CCIM, Texas Broker and Fernando Palacios, AmeriBid LLC Regional Director and Broker in the Mid-Atlantic Region. While hundreds of buyers competed for properties located throughout many of the historic neighborhoods of San Antonio, no buyer was restricted from being able to obtain a property during the auction. Auction participants included first time home owners, various community organizations, developers, investors, and many others interested in the rebuilding of San Antonio, while diminishing urban blight in some areas.

About AmeriBid

AmeriBid LLC is the premier global real estate auction leader specializing in the sale of commercial and residential real estate, land properties and other assets for lenders, servicers, receivers, bankruptcy attorneys, estates, private owners, investment companies and various Housing Authorities as well as local, state and federal government agencies. To be notified of future auctions, sign up for email alerts here.

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CONTACT: Michelle Baker 877.895.7077 michellebaker@ameribid.com

Source: AmeriBid