PORTLAND — Seven bidders arrived at Havana South restaurant on Friday morning for a public auction with the hopes of snagging six highly visible Old Port properties on Wharf and Fore streets.
All seven left unhappy.
The properties’ mortgage holder, BACM 2007-3 Wharf Street, LLC, who wasn’t even at the auction, outbid all others and won the properties — which had been foreclosed upon — with a bid of $5.9 million.
The purchased properties include 432, 434, 436 and 446 Fore Street, with prominent tenants like Fore Play Sports Pub, Blazin’ Ace smoke shop and Gorgeous Gelato.
Although the mortgage holder who won the properties wasn’t at the auction, the lawyer running the proceedings, Lee Lowry, made bids at the holder’s request.
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.