NORTHBROOK, Ill., January 13, 2022 / PRNewswire / – Amid unprecedented market conditions due to the coronavirus pandemic, Hilco Real Estate, LLC (HRE) successfully established its client in connection with a $ 18,100,000 Bankruptcy sale of approximately 134 acres of vacant land on the southeast corner of East 64th Avenue and Piccadilly Road in Aurora, Colorado, south of the Denver International Airport.

HRE’s client, Hilltop of DIA, LLC, purchased the land called “Avelon” with the intention of developing a master plan community that would include hotels, commercial spaces, apartments, green spaces and single-family residential lots. Due to various obstacles, the property filed for Chapter 11 bankruptcy protection in June 2021 (Bankruptcy Proceedings No. 21-13309-tbm District of Colorado [Denver]. In RE Hilltop at DIA, LLC. Working regulations of the HRE, October 6, 2021).

HRE exceeded expectations by implementing its bespoke sales solution, deep understanding of the bankruptcy sales process and nationally reaching out to knowledgeable, discerning buyers.

In just 30 days, HRE effectively marketed the property to a universe of buyers across the country and generated offers that included: $ 250,000 of non-refundable serious monies from qualified buyers and conducted a competitive virtual auction where the price was based on an opening bid of $ 16,050,000 to a final highest bid of $ 18,100,000. This ultimately resulted in the property sale days closing before the end of the 2021 calendar year. HRE’s efforts resulted in 3,876 unique prospects, over 110 direct inquiries and a total of seven offers that were received in the auction itself. Additionally, with the help of HRE, Hilltop of DIA, LLC was able to complete the real estate sale transaction just 37 days after the auction.

Senior Vice President of HRE Stephen Madura stated: “The success of this auction demonstrates the insolvency expertise that the HRE team offers its customers. Our team completed the transaction in a fast time frame and exceeded the expectations of all parties involved in the case.”

To learn more about the services HRE offers or to obtain an ongoing bankruptcy advisory service, please visit HilcoRealEstate.com or call (855) 755-2300.

About Hilco Real Estate
Hilco Real Estate (“HRE”), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (UNITED STATES OF AMERICA). HRE is a national provider of strategic real estate disposition services. As an agent or client, HRE uses its experience to advise and implement strategies to help customers get the maximum value from their real estate assets. Using a variety of sales strategies and techniques, aggressive repositioning and restructuring experience, an extensive and motivated network of buyers and sellers, and extensive access to capital, HRE exceeds expectations for even the most complex transactions.

SOURCE Hilco Real Estate