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AmeriBid LLC to Conduct Foreclosure Auction of 81.46+/- Acres of Residential and Multi-Family Land

GAITHERSBURG, Md., Oct. 22, 2012 (GLOBE NEWSWIRE) -- AmeriBid LLC (www.AmeriBid.com), announces the foreclosure auction of 81.46± acres of valuable residential and multi-family land in Lanham, Maryland in Woodmore Towne Centre at Glenarden. The auction will be held Friday, November 2nd at 1:00 p.m. at the intersection of Campus Way North & Ruby Lockhart Blvd., Lanham, Maryland 20706.

"Rarely does such a well-located tract of residential property come to market like this," comments Stephen Karbelk, CAI, AARE, Co-Chairman of AmeriBid. "This property has a detailed site plan approval pending certification for approximately 503 residential units and 468 multi-family units, making it an outstanding acquisition opportunity for any buyer that wants to take advantage of the continuous demand for new homes in Prince George's County."

This property consists of a 81.46± acre residential and multi-family land parcel that is part of Woodmore Towne Centre at Glenarden, a 245 acre mixed use development to include retail, residential, hotel and office space. Features of this property include easy accessibility from the Beltway, close proximity to Fed Ex Field and Prince George's County's premium shopping center that includes Wegmans, Costco, Best Buy, JC Penney, Petco and many other retailers.

This opportunity is relevant to the needs of the area and is an ideal site for this development. "Talk about location, this property has it all. Being right off of the Beltway and part of Woodmore Towne Centre at Glenarden, this property is incredibly convenient for all of its future residents," says Karbelk. It is also just within reach of everything our nation's capital has to offer, including the area's newest scenic attraction – National Harbor.

Development of this property is subject to the Joint Development Agreement dated June 20, 2008 as well as additional requirements. Prior to bidding, please sign and return the Confidentiality and Non-Reliance Agreement in order to gain access to the AmeriBid Digital Dataroom where the available construction and development documents are available for review. Please visit our website to view the Trustee's Sale Notice for complete terms and conditions of the foreclosure auction. Property may be inspected at your own risk. For more details, please visit www.AmeriBid.com or call 877-895-7077.

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CONTACT: John Pellow 877.895.7077

Source: AmeriBid