Clifford Companies acquires two industrial facilities.Stephen Mann, chairman of The Clifford Companies, announced that the company has acquired two industrial facilities totaling 94,415 square feet in Chantilly, Virginia Chantilly is an unincorporated community located in western Fairfax County and southeastern Loudoun County of Northern Virginia. Recognized by the U.S. Census Bureau as a census designated place (CDP), the community population was 41,041 as of the 2000 census. . Clifford, and an offshore partner, purchased the properties for $2.675 million. The properties, located at 14701 and 14725 Flint Lee Road, were on their way to foreclosure by the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. (FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). ) at the time of the sale. Clifford acquired the buildings, which were both developed in 1989, by purchasing the Assignment of Foreclosure being issued by the FDIC. According to Mann, the purchase of the two Virginia properties marks New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-based Clifford's first acquisition in the Washington metropolitan area The Washington Metropolitan Area, formally known as the Washington-Arlington-Alexandria, DC-VA-MD-WV MSA is a U.S. Metropolitan Statistical Area (MSA) as defined by the United States Office of Management and Budget (OMB) as of November 2004. . The Clifford Companies, real estate advisors, managers and investors providing a comprehensive range of services for troubled real estate investments, have had substantial experience in the workout arena. The company recently advised a Connecticut bank on the disposition of $240 million in troubled assets and directed the restructuring of a British company's $1 billion U.S. portfolio. The Clifford Companies also manage 6.7 million square feet of office space, as well as retail and residential properties in the New York metropolitan region and California. |
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