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Old Port parcels sell for $6M
Two prominent parcels in Portland's Old Port in foreclosure recently changed hands for nearly $6 million.
At an auction Friday, mortgage holder BACM 2007-3 Wharf Street LLC bought the properties on Wharf and Fore streets for $5.9 million, according to the Portland Press Herald. About 30 people turned out for the auction, with seven bidders paying the mandatory $50,000 deposit to take part in the auction. The properties were previously owned by Old Port Retail Holdings LLC, which bought them in May 2007 for a total of $8.31 million and also took part in the bidding Friday. No details were released on why the properties have been foreclosed on.
BACM 2007-3 Wharf Street LLC, which is managed by Florida-based LNR Partners LLC, did not disclose its plans for the properties, which are home to a number of businesses, including Blazin' Ace, Gorgeous Gelato, the Havana South restaurant and three bars -- Oasis, Pearl and Fore Play. According to the paper, BACM is a private entity that deals in commercial mortgage-backed securities.
The Giving Guide
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
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Learn more-
The Giving Guide
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
-
Work for ME
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
-
Senior Smart
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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