A portfolio of bank-owned residential lots in a southern Brunswick County development has been sold.
 
Bryan Greene, managing principal of Wilmington-based Turnstone Partners, recently announced in a news release that his firm completed the sale of six residential lots in The Resort at Ocean Isle Beach, a large-scale master planned residential community located along the shores of the Atlantic Ocean in Ocean Isle Beach.
 
Greene said the lots were acquired by a private client through foreclosure in 2013. 
 
At the beginning of the year, each lot was individually marketed through the brokerage firm’s Turnstone Partners Residential Real Estate platform, a division created for the initial purposes of selling individual lots out of the Ocean Isle Beach portfolio, Greene said. 
 
Lot selling prices ranged from $115,000 to $300,000 per lot.
 
Within four months, all the lots were sold to individual buyers or investors – all looking to build individual residences on the sites, Greene said. 
 
“The lots were sold to individual investors and buyers planning to build residences versus a bulk sale or note sale,” Greene said, “thereby maximizing the value of the portfolio.”