Asset Management & Recovery: Rich Kruse (Gryphon USA, Ltd.)

FOR IMMEDIATE RELEASE

For more information contact:

Richard Kruse at 614-885-0020 x 17

rfk@gryphonusa.com  

Karlsberger Assets To Be Liquidated By United Country – Gryphon Realty & Auction Group At Online-Only Auction

83-Year-Old Company to Put High-End Office Furniture on the Virtual Auction Bock

Sept. 9, 2011 (COLUMBUS, OH.) – Karlsberger Company, a nationwide architectural firm based in Columbus, Ohio, will liquidate its high-end office furniture, equipment and other supplies at an online–only auction conducted by United Country – Gryphon  Realty & Auction Group.  Bidding has already begun and the auction will conclude on Thursday, September 22 with the first lot closing at 1p.m. EST. The company closed its doors to the public on June 24 after 83 years of doing business throughout North America.

"While this is a sad day for our team, it is with great pride that we look back on generations of fine service and award winning design," the company said in the statement. "The general economic times have made it impossible for the firm to continue. Our level of revenues are insufficient for us to meet our ongoing obligations."

The auction will allow buyers to bid their price on top-of-the-line office items from  manufacturers as Hayworth, Herman Miller, Hon, Trendway, Carlo Bimbi, KI, Steelcase, Global, Toshiba, Canon, Dell, Sony and GBC just to name a few.

Items to be offered to the public include cubicles and modular offices, office chairs, conference table, lateral file cabinets, rafting tables, bookshelves, executive office sets, kitchenette equipment, video conferencing systems, laser printers, scanners and high-output copiers, cameras, computer towers and laptops and  much more

Potential buyers will be able to preview the items on Sept. 21 at Noon EST. Pick-up of the items will be arranged by appointment to be scheduled for Monday, Sept 26 through Thursday Sept 29.

For more information on this and other auctions, contact United Country – Gryphon Realty & Auction Group at 614-885-0020 or visit www.GryphonAuction.com.

 About United Country – Gryphon Realty & Auction

United Country Gryphon Realty & Auction Group is the Central Ohio affiliate of the largest fully integrated network of conventional real estate and auction real estate professionals in the United States.  Based the Polaris Area of Columbus, Ohio, the company is a subsidiary of Gryphon USA, Ltd., a multi-faceted asset management and liquidation firm focusing on the operations and dissolution of single assets through and including entire companies.  The company maintains a real estate brokerage practice, auction group, property management division and appraisal division. Co-founders Richard and Melissa Kruse also regularly hold engagements as court appointed receiver throughout Ohio.

FOR IMMEDIATE RELEASE

GRYPHON & BORROR TEAM UP

To Offer Real Estate Receivership Management Services

DUBLIN, OH -- Gryphon Asset Management and Borror Properties - two industry leaders with in-depth knowledge of this market and a comprehensive understanding of both property management and distressed-asset administration - have joined forces to assist the legal and banking industries  in maintaining and transitioning real property in distressed and receivership scenarios.

Gryphon, lead by Richard Kruse, has over 15 years of nationwide experience participating in hundreds of bankruptcy and receivership transactions totaling in excess of  two billion dollars in recovery value

Borror Properties, owned and operated by Douglas Borror and Lori Steiner, has over 35 years of expertise in development, construction, and management of apartment complexes, condominiums, and homeowners associations. 

"Our goal over the past 8 years has been to continuously strive to streamline and simplify the process for all involved, stabilize day-to-day operations, protect value and provide a constant flow of information," Kruse said.  "We not only have the personnel and resources to evaluate, manage, and improve operations, we have the ability to put together short and long term plans to increase the value of the asset," added Borror.

This partnership provides the strategic and tactical expertise to handle the most complicated projects in today's difficult marketplace including scattered site projects, partially developed communities and operating multifamily complexes of all sizes.

About Borror

Borror Properties was founded with the mission of providing outstanding real estate property management services as well as new home construction projects. Led by former Dominion Homes executives, Doug Borror and Lori Steiner, they bring expertise from many areas of the real estate industry including consulting, development, construction, property management, community management, and brokerage for sales and leasing.

About Gryphon

Columbus-based Gryphon USA, Ltd. and its subsidiary companies focus on the wind down and liquidation of single assets through and including entire companies.  The company maintains a real estate brokerage practice, auction group, property management division and appraisal division. Co-founders Richard & Melissa Kruse also regularly hold engagements as court appointed receiver throughout the State Of Ohio and East Coast.

For more information about Gryphon and Borror and their services, log on to www.gryphonborror.com, contact Rich Kruse at 614-885-0020 x 17, or Lori Steiner at 614-356-5500.

Every time we conduct an auction, questions arise about process, contract terms, definitions, timelines and even commissions. 

With real estate auctions becoming more common, I have developed an easy to follow 2 hour course that explains the basics of representing buyers and sellers in auction scenarios. 

Please let me know if you would like to have this course conducted at your office in the first few months of 2011.  In order to qualify for CE credit, we will need to advise the Division of Real Estate of the date and time at least 30 days prior. 

Please see course details below.

General Presentation Outline

This course will benefit brokers and agents who find themselves in need of an auction partner on the seller side or come across a buyer client wanting to bid on property in an auction scenario.  The course will focus on the following:

1. Brief Auction History

2. Types of Auctions

3. Terminology

4. Understanding Auction Contracts

5. Representing Buyers & Sellers

6. Partnering with an Auctioneer

Instructors 

Richard Kruse - Mr. Kruse is President of Columbus Ohio based Gryphon USA and oversees the day to day operations of the companies subsidiaries including United Country - Gryphon Realty & Auction Group.  He has been in the auction business sine 1997 and has sold over 2,000 land parcels, homes and commercial structures through the auction method over his career.

Peter Gehres - Mr. Gehres is a first generation auctioneer and professional public speaker who specializes in selling both personal property and real estate at auction.   Peter has conducted over 500 live auctions and has significant experience online auction transactions.  He is the 2010 Michigan Auctioneer Champion, sits on the Board of Directors of the Michigan Auctioneers Association and is currently running for Treasurer of the Ohio Auctioneer Association.

If interested, I can be reached at 614-774-4118.

This offer is open to brokerages throughout Ohio.  If you are outside of Ohio, we can refer you to an auctioneer / trainer in your state.

Selling Absolute - Bankruptcy Auction - 220 E. Clearview Ave., Worthington, OH 43085

Short Description  1050 SF, 3BR, 1BA.  Ranch style home in Worthington Park subdivision near shopping, library and schools.

 Sells Saturday, November 6, On Site at 4pm

 Terms: Offered As-Is.  $5,000 certified funds deposit on auction day.  Closing within 30 days.  Seller offering home & gas line warranty. 

Selling Absolute - Bankruptcy Auction - 101 N. Fulton St., Newark, OH 43055

 Short Description

Quiet Newark Neighborhood - 672 SF, 2BR, 1BA 1950's era home.  Vinyl siding, replacement windows, hardwood floors, shed and detached 2 car garage.

Sells Saturday, November 6, On Site at 1:30pm

Terms - Offered As-Is.  $5,000 certified funds deposit on auction day.  Closing within 30 days.  Seller offering home & gas line warranty. 

Selling Absolute - Bankruptcy Auction - 1967 Old Highbanks Ct., Reynoldsburg, OH 43068

Reynoldsburg Townhome - 1240 SF, 2BR, 2.5BA two story townhouse style condo, full finished basement, rear deck backs to quiet wooded ravine.  $25/mo condo fees, $1340/yr property taxes. 

Sells Saturday, November 6, On Site at 12 - Noon

Terms - Offered As-Is.  $5,000 certified funds deposit on auction day.  Closing within 30 days.  Seller offering home & gas line warranty. 

Selling Absolute - Bankruptcy Auction - 5264 Zimmer Dr., Columbus, OH 43232

Groveport Area Residence - Absolute Bankruptcy Auction - 936 SF, 3BR, 1BA ranch style home in Blacklick Estates subdivision and Groveport Madison school system.  Hardwood floors, partially finished basement, one car garage and fenced yard.  

Sells Saturday, November 6, On Site at 11am

Terms: Offered As-Is.  $5,000 certified funds deposit on auction day.  Closing within 30 days. 

***Selling Absolute - Bankruptcy Auction***

5544 Coneflower Ct. Grove City, OH 43213 - 2213 SF, 4BR, 2.5BA in Meadow Grove subdivision on secluded cul-de-sac with rear deck, partial hardwood floors.  Built in 2004.

Sells Saturday, November 6, On Site at 10am

Offered As-Is.  $5,000 certified funds deposit on auction day.  Closing within 30 days.  Seller offering home & gas line warranty. 

Real Estate Auction - Land Near Rickenbacker Airport

 Short Description -  3.25 +/- acres of land in the heart of Rickenbacker Industrial Park. Zoned M1 in City of Columbus.  All utilities available.  Suggested opening bid $112,000. Co-listed with Rick Trott, Cassidy Turley.

Sells Tuesday, November 9 at Noon at Aladdin Shrine Center, 3850 Stelzer Rd., Columbus OH

Terms:  Offered as-is with 10% buyers premium.  5% of contract price deposit with minimum $10,000 in certified funds.  Balance in personal or business check.  Closing within 45 days.

*** Receivers Auction*** - 3 Bay Self Serve car wash site including 4 vacuum stations locations and 2 vacuums.  Location currently out of operation, however easily re-opened.  Multi-parcel site offers expansion or alternate use opportunity. 

 Sells Tuesday, November 9 at Noon at Aladdin Shrine Center, 3820 Stelzer Rd., Columbus OH

Terms: Offered as-is with 10% buyers premium.  5% of contract price deposit with minimum $10,000 in certified funds.  Balance in personal or business check.  Contract subject to final court approvals.  Closing within 20 days of court approval and before December 23, 2010.