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Heartland Financial USA Continues to Sell Real Estate on Online Auction Marketplace

Heartland Financial USA, a financial services company better known through their affiliates such as Arizona Bank & Trust, Rocky Mountain Bank, Wisconsin Community Bank and Summit Bank and Trust, has once again employed the services of Freedom Realty Exchange (FRE.com) to market and sell a portfolio of OREO properties via an online auction.

1100 Bridger Spur Rd, Bozeman, MT. Lender-Owned Luxury Home - log cabin-style estate on 40 acres. (P ...

1100 Bridger Spur Rd, Bozeman, MT. Lender-Owned Luxury Home - log cabin-style estate on 40 acres. (Photo: Business Wire)

Since launching the first online auction of properties owned by Heartland Financial USA in early 2011, FRE.com has sold multiple properties across the U.S. Because of this solid track record and the best of breed auction marketing methods of Freedom Realty Exchange, Heartland knew the online auction route was the only solution to quickly sell their current inventory of bank-owned real estate.

“The benefit of selling real estate by auction is best achieved when the seller completely understands the auction approach, is fully invested in the process and has realistic expectations of the market,” states Ryan Devin, director of Auction Operations. “Heartland encompasses all three of these elements - that’s why their auctions lead to successful sales. “

This lender-ordered real estate auction features a diverse group of properties:

  • Industrial Campus in North Carolina – 3 separate buildings totaling +/-173,900 SF on 12 acres of land featuring multiple loading docks, drive-in doors and nearly 12,000 SF of general office/admin space.
  • Office/Warehouse in Arizona – the 10,612 building is just south of Sky Harbor International Airport in the industrial hub of Phoenix.
  • Multi-tenant Industrial Building in Colorado – perfectly located between Denver and Boulder, the building spans 196,000 SF with over 80,000 SF of income in place. There are 18 separate units and on-site parking for 500 vehicles.
  • Former Fun/Recreational Center in Montana – this +/-18 acre site offers huge redevelopment opportunity as a RV Park or campgrounds.
  • Auto Repair and C-Store in Colorado – located on I-76, this partially occupied 5,808 SF facility sits on just over an acre of land. Formerly fully operating gas station, with tanks and pumps still in place.
  • Luxury Log Cabin Home in Montana – the main house and guest house are exquisitely appointed and sit on over 40 acres of pristine mountain land adjacent to a nature conservancy ensuring that views will not be disturbed.
  • Two Commercial Buildings in Montana – one building is +/-13,000 SF complete with office space, lobby, and showroom, also features a warehouse with six overhead doors. The adjacent building is approximately 4,000 SF.

The minimum bids for all the properties are surprising low, a clear message from the seller to buyers that they are motivated to sell and encourage ready, willing and able buyers to step up and bid.

All bidding is conducted online allowing buyers from anywhere to participate without the hassle or pressure of being on-site to place their bid. Also, due diligence materials are available for download on FRE.com.

Interested buyers can access specific property documents, photos and auction details by visiting FRE.com/131R2. Bids must be submitted by August 10th.

The Freedom Realty Exchange®

The Freedom Realty Exchange is owned and managed by LFC Internet Marketing, Inc., a member of the LFC Group of Companies. For more than 30 years, the LFC Group of Companies has successfully auction marketed thousands of commercial, industrial, land and residential properties, with sales in excess of $5 billion; and for the last seven years, we have conducted real estate auctions exclusively online. We have successfully served numerous Fortune 500 companies, real estate developers, investors, financial institutions, government agencies and real estate brokerages, providing a complete suite of real estate disposition strategies and auction marketing programs for commercial and residential property and mortgage notes.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50338401&lang=en

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