NEW YORK - Two real estate companies said they plan a $500 million auction in Los Angeles of 66 U.S. commercial real estate properties to investors from around the world.
The two, Jones Lang Wootton USA and Kennedy-Wilson Inc., said the properties to be sold include office and industrial buildings, retail centers, and hotels.
They said reserve prices range from $2 million to $30 million, and buyers must arrive with a $100,000 cashier's check to qualify for the bidding. Comprehensive due-diligence packages on each property will be available.
