American Property Enterprises has closed another distressed asset deal.  The property consists of 294 paper lots located in Victorville.  The seller was Bank of America.  The land is located east of Aster, 1/2 mile north of Bear Valley, in Victorville.  The site is +/-80 acres.

We previously reported American Property Enterprises having re-purchased one of their former deals (see this link).

The deal for the Victorville lots was reportedly for $775,000, which works out to be $2636/lot.  The deal closed on July 13, 2009.

Howard Hamlin of Hamlin-Gooding was the broker for the bank on the deal.  Howard can be reached at 562-537-5840.

American Property Enterprises can be reached at 858-546-7474.