Selling Bid: $5,950,000

Weston, FL – Auction Sale by Order of the United States Bankruptcy Court

Represented the Debtor and Buyer as transaction Broker. This offering included the remaining 22 residential lots at the Windmill Reserve at Weston waterfront estate community accented by 139 acres of sparkling lakes and pristine preserves. Available are 15 one-acre home sites within the Estates, 5 1/2-acre homes sites within the Lakes, and 2 1/3-acre homes sites within the Shores. This is the last estate and custom home community in South Florida’s best planned hometown, Weston, FL.

Summary: The stalking horse bid offer of $5,000,000 was approved by the court. There were two other qualified bids at  $5,150,000 and $5,250,000. The live auction resulted in a final bid amount of $5,950,000 plus $200,000 replacement of a letter of credit for net price of $6,150,000. The sale was immediately approved by the Court at the Sale hearing following the auction.