Richmond, VA, November 1, 2000 – Six of the leading real estate auction firms in the country announce the formation of Tranzon L.L.C. Tranzon fulfills the vision of its founders to create the first truly national real estate auction firm. Through internal growth and additional auction company shareholders, Tranzon intends to serve all major US metropolitan areas by the end of 2002. The founding companies are Tranzon Fox, Tranzon Auction Properties, Tranzon Driggers, Tranzon Asset Advisors, Tranzon Jax and Tranzon Hanley. In 2000, the Tranzon companies will conduct close to 1,000 commercial and residential property auctions in 26 states.

Tranzon Fox serves the Middle Atlantic States from its offices in Virginia Beach, Richmond and Fairfax, Virginia. Tranzon Auction Properties based in Portland, Maine, services the New England States. Florida and the Gulf Coast States are covered by Hernando, Florida based Tranzon Driggers. Tranzon Asset Advisors provides coverage of the Central US from its Kentucky offices. Tranzon Jax, based in Greenville, South Carolina, with an additional office in Charlotte, North Carolina, conducts auctions throughout the Southeast. Fort Worth, Texas based Tranzon Hanley, gives Tranzon market coverage in Texas and the Southwestern US.

Time sensitive sellers of U.S. real estate desire a single company that can meet their real estate disposition needs. Through Tranzon, these sellers can streamline the auction company selection process, minimize the time and cost of managing their auctions, and receive a consistent, high quality level of service. Tranzon provides uniform training and technology programs to its associates and companies, which gives Tranzon’s associates the tools necessary to deliver its clients professional, effective and efficient auction services.

The Tranzon companies specialize in providing real estate auction services to institutions, trustees and individuals throughout the US. The Tranzon companies have successfully auctioned virtually all types of real estate and have a depth of knowledge and regional market expertise that can only be afforded by the regional experience of its companies. The geographic breadth of the Tranzon companies allows it to serve sellers with properties throughout the US, as well as individual real estate owners on a local basis.

For more information, contact:
Jeff Levin, 804-288-4190