Two-Day Auction Takes in Total of $34 Million

Bank of America, offering properties it valued at $28 million, was the largest single seller among the 20 participating in a two-day real estate auction conducted in Southern and Northern California by Santa Monica-based Kennedy-Wilson Inc.

A total of $34 million was received by sellers at the Disneyland Hotel in Anaheim, attended by 2,700 people, and in the San Francisco Bay Area at the Concord Pavilion, with 1,500 attending. On the block were remaining units in developments, a bulk condominium project, single-family homes, land parcels and former bank branch sites.

The Southern California sale grossed $24 million, with successful bids ranging from $4,000 to $545,000. It also resulted in the complete sellout of two Westside condominium projects, 12 units on San Vicente Boulevard and 6 town houses at The Crown in MountainGate, together grossing $5,134,000.