Austin, Texas-based ""TexTerra Auctions, LLC"":http://www.texterraauctions.com, has opened its doors for business. The newly created real estate auction company is focused on assisting lending institutions in Texas with offloading commercial and bulk residential REO properties.
TexTerra Auctions was launched by principal James Ehrlich, a licensed real estate broker and the owner of affiliated company ""TexTerra Realty, LLC"":http://www.texterrarealty.com. A fourth generation Austinite, Ehrlich has over 20 years experience in commercial lending, private equity funds, and commercial real estate.
Also joining the team is Mike Hanley, a licensed auctioneer and real estate agent. According to Ehrlich, Hanley is a highly experienced auctioneer for both commercial and residential properties. ""Mike brings considerable experience to TexTerra Auctions and provides a unique skill set of both auction and real estate knowledge,"" Ehrlich said.
Speaking about the formation of TexTerra Auctions, Ehrlich said, ""Given the current economic climate across the country, the creation of a real estate auction business made timely sense. The auction company is a natural extension of my established commercial real estate firm, TexTerra Realty. We are filling a market void and offering another viable and dynamic option to prospective sellers.""