Medical Office Buildings
UCC Foreclosure Auction

Details:

• Indirect Interest in:

  100 Medical Center Drive – Hamiter Building:  The Hamiter Building is a four-story multi-tenant medical office building on Medical Center Drive in Gadsden, AL. This property was built in 1977 and contains 53,280 square feet of gross building area (GBA) and 46,754 square feet of net rentable area (NRA). The subject is shadow anchored by the Gadsden Regional Medical Center which is located next to the subject and is connected via enclosed hallway(s).

  300 Medical Center Drive – Gadsden Medical Building II: Gadsden Medical Building II The subject is a five-story multi-tenant medical office building on Medical Center Drive in Gadsden, AL. This property was built in 1992 and contains 62,228 square feet of gross building area (GBA) and 53,699 square feet of net rentable area (NRA). The subject is shadow anchored by the Gadsden Regional Medical Center which is located next to the subject and is connected via enclosed hallway(s).

• PLEASE TAKE NOTICE THAT pursuant to New York Consolidated Laws, Uniform Commercial Code § 9-610, Gadsden MOB Holdco LLC, a Texas limited liability company (the “Secured Party”), as successor-in-interest to Revere Credit Opportunities Fund III, LP, a Delaware limited liability company, the successor-in-interest to Angel Oak Bridge Lending Fund, L.P., the successor-in-interest to Angel Oak Commercial Lending, LLC, a Delaware limited liability company, will sell at a public auction (the “Public Sale”) the limited liability company interests (the “Pledged Securities”) in Gadsden Medical Office LLC, a Florida limited liability company (the “Company”), pledged by Gadsden Holdings LLC, a Florida limited liability company (the “Pledgor”), pursuant to the terms of a Pledge and Security Agreement dated as of May 19, 2021, executed by Pledgor, as Pledgor, and Angel Oak Commercial Lending, LLC, as Lender (the “Security Agreement”).The Pledged Securities consist of all limited liability company interests held by Pledgor in the Company, together with all limited liability company certificates evidencing ownership of such interests, and all claims, powers, privileges, benefits, remedies, voting rights, options or rights of any nature whatsoever which currently exist or may be issued or granted to Pledgor.The Pledged Securities will be sold in a single block to a single purchaser and will be sold “as-is, where-is,” with no express or implied warranties or representations of any kind made by Secured Party and without recourse whatsoever to Secured Party.  Each bidder or prospective purchaser (each a “Bidder”) must provide Secured Party with an Investment Intent Letter in the form attached hereto as Exhibit “A”, acknowledging and agreeing, among other things, that Bidder (i) is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Pledged Securities, (i) is making a bid to acquire the Pledged Securities for investment for such Bidder’s own account only and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act of 1933, (as amended the “Act”), (iii) understands that the Pledged Securities have not been registered under the Act by reason of a specific exemption therefrom, (iv) is an “accredited investor” pursuant to Section 501 of Regulation D of the Act, (v) understands, acknowledges and agrees that the Pledged Securities must be held indefinitely unless the Pledged Securities are subsequently registered under the Act or an exemption from such registration is available, (vi) understands, acknowledges and agrees that the Company is under no obligation to register the Pledged Securities, and (vii) understands, acknowledges and agrees that any certificate evidencing the Pledged Securities will be imprinted with a legend that prohibits the transfer of the Pledged Securities unless the Pledged Securities are registered or such registration is not required in the opinion of counsel for the Company.
• Maltz Auctions (“Maltz”), under the direction of Richard B. Maltz or David A. Constantino  (the “Auctioneer”), will conduct the Public Sale of the Pledged Securities on Tuesday, June 24, 2025, at 11:00 a.m. Eastern Daylight Saving Time, on the front steps of the New York County Supreme Court building located at 60 Centre Street, New York, New York 10007.
• The Property and Pledged Securities secure a Promissory Note owned by Secured Party, executed by the Company and payable in the original principal amount of $5,525,000.00 (“the Note”)
• The Public Sale is subject to cancellation and/or postponement.
• The Pledged Securities will be sold at the Public Sale to the highest qualified Bidder for cash, except that Secured Party shall be permitted to bid at the Public Sale and may credit its bid against all or any portion of the indebtedness secured by the Pledged Securities.
• Secured Party reserves the right to reject all bids and terminate the sale or adjourn the sale to such other time or times as it may deem proper and commercially reasonable only by announcement of the date of sale or subsequent adjournment thereof without further publication, and may impose any other commercially reasonable conditions upon the Public Sale of the Pledged Securities as it may deem proper.
• Upon request, information that Secured Party has in its possession regarding the Company will be provided to qualified Bidders, and such information and any questions regarding the Public Sale may be obtained by contacting Tiffany Culwell at (214) 808-5027, or [email protected].
• UNLIKE MANY UCC SALES THIS IS NOT SUBJECT TO A SENIOR MORTGAGE