Tranzon Engaged By TD Bank to Auction REO Portfolio of Carolina First Bank

PORTLAND, Maine, March 21, 2011 /PRNewswire/ -- Tranzon Auction Properties, with corporate offices in Portland, Maine, announced today that it has been engaged by TD Bank to market and auction over 300 properties throughout the southeast. The properties represent a portion of the REO assets TD Bank acquired with the purchase of the Carolina First Bank and its subsidiaries. Representing a diverse mix of real estate, including residential, industrial, commercial, hospitality and more, these properties are located throughout North Carolina, South Carolina, Georgia and Florida.

Tranzon Auction Properties has partnered with its affiliates, Tranzon Integrity Partners (SC & GA), Tranzon Fox (NC), and Tranzon Driggers (FL), to auction the bank-owned properties in both online and live bidding formats.  The "Spring Fling," as Tranzon has dubbed the multi-property sale, will take place throughout March and April, kicking off with online auctions of land and buildings in Florida on March 16th.  

"We're pleased to have been given the opportunity to assist TD Bank with the auction marketing of this OREO inventory," says Thomas Saturley, President of Tranzon Auction Properties. "Our campaign kicked off in late February and the response has been strong thus far."

Walt Driggers, President of Tranzon Driggers, remarked, "While there is still a lot of inventory to move through, buyers are indicating that they feel now is a strong time to buy and are selling off other assets in order to ride real estate up over the next few years. One person even indicated he is selling his plane so he can invest that money in land."

For a complete list of properties, please visit www.tranzon.com.

About Tranzon Auction Properties

With more than 30 offices from coast to coast, Tranzon's independently owned and operated regional member companies form a full-service, nationwide auction and real estate disposition company. Tranzon's companies have conducted more than 10,000 auctions in 47 States and the District of Columbia, and have sold more than $1.4 Billion in asset value since the Company's formation.

SOURCE Tranzon Auction Properties