California + Inland Empire + Distressed Assets | May 30, 2023

July 13 is the qualified bid deadline for the bankruptcy sale of a luxury condominium development site in Desert Hot Springs, CA

Desert Hot Springs Development Site on the Block for July Auction

Hilco Real Estate, LLC announced July 13 as the qualified bid deadline for the bankruptcy sale of a city-approved luxury condominium development in the fast-growing city of Desert Hot Springs. The development parcel, spanning approximately 25 acres, is accompanied by a city-approved development agreement, valid until 2042

The luxury condo development has plans for 402 total units and will be gated with an abundance of high-end amenities on site, making it one of the first of its kind in the area.

Terry Rochford, SVP of business development at Hilco Real Estate, said, “With the city’s approved development agreement until 2042, it ensures a streamlined process, enabling investors to move forward confidently with their plans.”

The sale is being conducted by Order of the U.S. Bankruptcy Court Central District of California (Riverside), Bankruptcy Petition No. 6:23-bk-10602-RB, In re: The Residences at Ovation, LLC.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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