Deals
Fannie Mae Chicago Foreclosures Sell for $11.8 Million
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Cogsville Group LLC, a New York-based real estate investment fund, won an auction of 94 homes for $11.8 million in Fannie Mae’s second bulk sale of foreclosures to be managed as rentals.
The government-controlled mortgage company is auctioning almost 2,500 repossessed properties in six states. The homes purchased by Cogsville, all in the Chicago area, sold for about 86 percent of the estimated total value of the properties, according to a summary by Credit Suisse Group AG, which managed the transaction.