Commercial Realtors, can you please tell me what this real estate for sale ad means please?

Jul 24, 2010 in Commercial Property Loans

I am not sure if it is saying the owner owns the majority except for so and so piece of property which is a joint venture with a bank???

Well I know banks aren’t in the real estate business which is why this part doesn’t make sense to me. Is it because someone else had bought a certain plot from the owner with a loan and it got reposessed or what? Please help me clarify as I am interested in the piece of land that it is saying (I think) that the bank owns. This is the ad:

+/- 27.29 Acres of Land Owner Financing / Joint Venture Opportunity Bank owned property +/- 1780 Linear Feet of Frontage on I-10 +/- 750 Linear Feet of Frontage on N Caldwell St

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One comment

ranger_co_1_75 on July 24, 2010 at 7:00 am

In plain English the Ad says, 27.29 Acres more or less….Owner Financing….. This is an opportunity for Joint Venture (partnership if you want someone to go in with you)….. The Bank Owns the property…… and then it gives the feet dimensions of the boundaries more or less.

The bank is the owner, and the bank is willing to finance to a single buyer or partnership.

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