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Article: RTC to auction $1B in assets. (Resolution Trust Corp., $1 billion)
- Article from:
- Real Estate Weekly
- Article date:
- April 6, 1994
CopyrightCOPYRIGHT 1994 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Resolution Trust Corporation has launched Phase II of the National Land Fund, which pools together distressed real estate assets into a series of limited partnerships between the RTC and private investors to deal with land loans and to develop or sell off parcels of land. The National Land Fund's Phase II is valued at approximately $1 billion of RTC-controlled assets, including commercial land loans and underdeveloped land.
According to Gordon Alpert, a real estate partner at the New York law firm of Rosenman & Colin, one of two firms selected to represent the RTC in Phase II, "The success of Phase I of the National Land Fund has prompted the RTC to move ...