Kennedy Wilson Auctions and Sells 56 Homes in Los Banos and Manteca, California
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Kennedy Wilson Auctions and Sells 56 Homes in Los Banos and Manteca, California

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Inventory of Both Developments Sells Out in Under Three Hours Total

BEVERLY HILLS, Calif., Oct. 17 /PRNewswire/ — Kennedy Wilson Auction Group, a division of the national real estate services and investment firm Kennedy Wilson, conducted an inventory closeout auction of Paseo West, a community of one- and two-story single-family homes ranging up to 3,310 square feet in Manteca, Calif. The 34 single family homes up for auction were all sold on Saturday, October 13, 2007 at the Hilton Pleasanton in Pleasanton, Calif. At a second closeout auction held the next day at the Dolce Hayes Mansion Resort in San Jose, Calif., 22 single-family homes were sold in the developer's Teal Landing project in Los Banos, Calif. Ranging up to 2,542 square feet, these homes are located near the San Luis reservoir and in proximity to 65 miles of shoreline.

“The Paseo West auction was one of the first in Northern California offering 34 new homes in a new subdivision,” said Rhett Winchell, president of KW Auction Group. “All 34 homes sold within 90 minutes and the sale was very well attended.

“Excitement continued the following day as all 22 Teal Landing houses went to bidders in less than one hour,” Winchell continued.

Since 2006, the Kennedy Wilson Auction Group has conducted many successful auctions of condominiums and single-family home communities throughout the United States.

Founded in 1977, Kennedy Wilson is a real estate services and investment firm headquartered in Beverly Hills, Calif., with 20 offices throughout the U.S. and Japan. It seeks opportunities in partnership with clients in pursuit of above-market investor returns and higher real estate values. Kennedy Wilson Auction Group has been a leading force in the auction industry since 1977. It conducts live auctions and sealed-bid sales for all types of residential properties. Click http://www.kwiauction.com or http://www.kennedywilson.com for further information.

CONTACT:

RHETT WINCHELL

310/887-6446

SOURCE Kennedy Wilson Auction Group

© 2007 PR Newswire. All Rights Reserved.

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