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Hilco Real Estate Announces New Date for Auction of Former Emivest Headquarters Building in San Antonio, TX

Dépèche transmise le 15 avril 2011 par Business Wire

Hilco Real Estate Announces New Date for Auction of Former Emivest Headquarters Building in San Antonio, TX

NORTHBROOK, lll.--(BUSINESS WIRE)--Hilco Real Estate and Counsel RB announced today a tentative new date of April 20, 2011, at 12:00 p.m. (Eastern Time) in Wilmington, Delaware, for the auction of the former Emivest Headquarters in San Antonio, Texas. Subject to Bankruptcy Court approval, bidders should be prepared to close the transaction by April 21, 2011.

“The exceptional nature of this property has yielded numerous ready, willing, and able potential buyers, who have expressed interest in the asset. In response to this acute interest, we have changed the sealed bid format previously announced and are moving ahead to an auction”

“The exceptional nature of this property has yielded numerous ready, willing, and able potential buyers, who have expressed interest in the asset. In response to this acute interest, we have changed the sealed bid format previously announced and are moving ahead to an auction,” said Roberto Perez, Senior Vice President of Hilco Real Estate. He added, “There is still time for interested bidders to participate.” The offering consists of the following asset:

• San Antonio, TX – Current lease runs through 2016 with a first right of refusal on 10 year extension. The annual lease rate for the 127,407 SF is $100,000 per year. The property served as the company’s corporate headquarters and final assembly plant for the Emivest SJ30 business jet. Originally constructed to serve as an MRO facility for Boeing 707 aircraft, the property can be used for many aerospace/defense applications. The building features heavy power, executive office space, expansion capability, and 46’-54’ ceiling clear height.

Bidding instructions, form contract, and comprehensive due diligence information for the San Antonio property as well as the previously announced Martinsville, West Virginia, property being offered can be found online at www.hilcorealestate.com/airport or by calling call 847-313-4790.

About Hilco Real Estate, LLC

Hilco Real Estate helps businesses improve leverage and cash flow by repositioning and restructuring their real estate commitments. The company’s focus is to optimize value in the shortest period of time. Core competencies include strategic advisory and consulting services, owned portfolio disposition, lease portfolio sales/assignments, lease termination, lease renegotiation, leasing/subleasing, sale of non-core owned assets, sale/leaseback transactions, and fee and appraisals for leased and owned assets. The company, which is headquartered in Northbrook, Ill, is a division of The Hilco Organization. For more information please visit www.hilcorealestate.com.

About Counsel RB Capital

Counsel RB Capital LLC (“CRBC LLC”), which commenced operations in the second quarter of 2009. CRBC LLC specializes in the acquisition and disposition of distressed and surplus assets throughout the United States and Canada, including industrial machinery and equipment, real estate, inventories, accounts receivable and distressed debt. In addition to purchasing various types of assets, CRBC LLC also arranges traditional asset disposition services such as on-site and webcast auctions, liquidations and negotiated sales.

www.counselrb.com