SAN DIEGO--(BUSINESS WIRE)--Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) (the “Company”), a leader in distressed and surplus corporate and financial asset valuations and transactions, today announced the launch of Heritage Zetabid Realty Services (“HZRS”), its newly formed real estate auction platform and services division. HZRS complements and expands Heritage Global’s existing asset valuation, advisory, and auction capabilities by adding new service offerings and experienced industry professionals to effectively market and monetize clients’ commercial, industrial, and luxury / bank-owned residential real estate assets.
Heritage Zetabid Realty Services is a strategic alliance between Heritage Global and Zetabid, a leading provider of real estate marketing services that delivers a transparent open bidding platform for buyers to purchase real property. Since it was founded in 2008, Zetabid has successfully sold over 3,000 properties.
In conjunction with the launch of HZRS, Michael Davin, the co-Founder of Zetabid, has been named Managing Director with responsibility for overseeing the division’s operations including developing and growing its customer base, implementing and executing its sales and marketing strategies, and assisting in the implementation of Heritage’s real estate-focused asset monetization and auction strategies, products and services. Mr. Davin has nearly three decades of real-estate industry experience. Prior to founding Zetabid, Mr. Davin co-founded Catalist Homes, a California based real estate firm, and earlier in his career worked for Grubb and Ellis.
Commenting on the launch of HZRS, Heritage Global Chief Executive Officer Ross Dove stated, “Heritage Global is focused on building our organization into a leading provider of diversified global asset solutions and services. The launch of Heritage Zetabid Realty Services is another step in our plan to strategically grow our product portfolio by adding new complementary capabilities that serve a broad range of businesses while creating further value for our corporate clients, customers and investors. Combining Zetabid’s real estate expertise with Heritage’s existing platform of asset valuation, advisory and auction capabilities, from our Heritage Global Partners, Heritage Global Partners Europe, Heritage Global Valuations, Heritage Equity Partners and Heritage National Loan Exchange divisions, enables us to expand and diversify our offering of best-in-class global asset solutions and services that we deliver to address the needs of our customers.
“Over the years, I have worked together with Michael Davin in various capacities and on a number of real-estate auctions. He brings to his new role at HZRS a deep understanding of the dynamics of commercial and luxury residential real estate and a proven record of forging strong relationships with customers. With his extensive expertise and relationships — including managing and conducting property auctions on behalf of government-sponsored entities and large money center banks — we are confident in Mike’s ability to lead our HZRS division and generate effective results on behalf of our clients.”
About Heritage Global Inc. (www.heritageglobalinc.com)
Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) is a value-driven, innovative leader in corporate and financial asset liquidation transactions, valuations and advisory services. Heritage Global focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets in twenty-eight global manufacturing and technology sectors. Heritage Global specializes both in acting as an adviser, as well as acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, related intellectual property, and entire business enterprises.
Forward-Looking Statements
The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address the Company's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which the Company currently operates, but because of the factors listed herein, as well as other factors beyond the Company's control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, obtaining necessary approvals and other risks detailed from time to time in the Company's securities and other regulatory filings.
