Florida REO Manager Ron Schwartz reports a sale of Oak Clair Apartments in St. Petersburg, FL

ORLANDO, FL. --- Florida REO Managers, Inc. (http://www.floridareomanagers.com/), an affiliated company of Realty Marketing Associates, based in Orlando, reported the all cash sale of Oak Clair Apartments, a 32-unit St. Petersburg rental community owned by City National Bank of Los Angeles.

Ron Schwartz (top right photo), principal at Florida REO Managers, said his firm was awarded a contract to manage the rental community in October.  

 Peter Ford, Terrier Properties, acquired the property for $400,000 Schwartz said.   The apartment property was 50 percent occupied at the time of sale.    Kevin Kelleher with Franklin Street Real Estate Services facilitated the sale. 

Florida REO Managers serves the need for local and statewide management and court appointed receivers of residential apartments and commercial properties that have been taken by out-of-state lenders in foreclosure.

“We work with out-of-state lenders and attorneys who have taken back Florida properties, or who need a receiver to make sure that the borrower’s property continues to be maintained properly during the sometimes lengthy foreclosure process,” Schwartz said.

For more information, contact:

Ron Schwartz, Principal, Florida REO Managers, Inc. 407-342-3648 (direct)

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142