Tranzon Asset Advisors, a national real estate auction firm, recently conducted an auction of 17 new homes and 5 building lots in Kenton and Boone counties as part of a Bankruptcy settlement for SMI New Home Solutions, LLC. The company has recently been in the news as it has been under investigation by Federal authorities.  The company entered a petition for Chapter 11 Bankruptcy in early May

The auction event was held at The Airport Hilton Hotel in Florence, Kentucky and had over 300 attendees. The sale event lasted less than two hours as the bidding atmosphere was filled with energy and fast bidding. The net proceeds from the sale were in excess of $3M.

“In today’s market it is unheard of to sell 17 homes in such a short period of time”, said Ed Durnil, CEO of Tranzon Asset Advisors.  “It just goes to show that the market is still there at the right price”.

Tranzon Asset Advisors, headquartered in Elizabethtown, KY, is a full-service real estate auction company and a member company of Tranzon, L.L.C., which is based in Richmond, Va.  Founded in 2001, Tranzon L.L.C. has 14 independently owned and operated member auction companies that collectively have more than 30 offices ranging from coast-to-coast.  The professionals working at Tranzon member companies specialize in providing real estate auction and accelerated marketing services to corporations, financial institutions, trustees, individuals and estates throughout the U.S.  Tranzon member companies regularly conduct over 1,000 auctions and 2,500 property valuations per year, effecting in excess of three billion dollars in real estate per year. 

To learn more about Tranzon visit www.tranzon.com.