HILCO GLOBAL ANNOUNCES NEWLY CONSTRUCTED MULTIFAMILY BUILDING AVAILABLE VIA BANKRUPTCY SALE IN SOUTH DAKOTA

NORTHBROOK, Ill., March 18, 2026 /PRNewswire/ -- The Hilco Global real estate practice, in cooperation with NAI Sioux Falls, announces April 16, 2026, as the qualifying bid deadline for a 63-unit, newly constructed multifamily building in Watertown, South Dakota. The Chapter 7 bankruptcy sale is subject to approval by the United States Bankruptcy Court for the District of South Dakota, Fargo Division.

The property, located at 315 E. Kemp Avenue, is a newly developed multifamily community approximately 90% complete. Designed with modern living in mind, the property will offer 63 residential units in a well-located area of Watertown, proximate to national and local restaurants, fitness centers, parks and other everyday amenities. The offering presents a compelling opportunity for investors to acquire a substantially completed asset, finish construction and deliver a new residential community to a growing regional market.

Watertown serves as an economic hub for northeastern South Dakota with a diverse employment base spanning manufacturing, healthcare, education and financial services. Major employers in the region include Prairie Lakes Healthcare System, Terex Utilities, Worthington Industries and Premier Bankcard, along with the Watertown School District. The city supports more than 12,000 jobs across the region, with manufacturing representing a significant portion of the workforce. With a population of approximately 23,000 residents and continued investment from major employers, Watertown has demonstrated steady economic growth and sustained demand for quality housing.

"This property represents a unique opportunity to acquire a nearly completed multifamily asset in a stable and growing Midwestern market," said Jonathan Cuticelli, director at Hilco Global. "With construction well advanced and strong local economic fundamentals supporting housing demand, investors have the ability to step in, complete the project and deliver much-needed residential inventory to the Watertown community."

The sale is subject to Bankruptcy Court Approval of the United States Bankruptcy Court for the District of South Dakota, Fargo Division, Petition No. 25-30004. Bids must be received on or before the deadline of April 16, 2026, by 5:00 p.m. (CT) and must be submitted on the Purchase and Sale Agreement (PSA) document available for review and download from Hilco Real Estate Sale's website.

Interested bidders should reach out directly for requirements to participate in the sale process. For further information, please contact Jonathan Cuticelli at (203) 561-8737 or [email protected]. To obtain access to due diligence documents, please visit HilcoRealEstateSales.com or call (855) 755-2300.

About Hilco Global

Hilco Global, a subsidiary of ORIX Corporation USA, is a diversified financial services company that delivers integrated professional services and capital solutions that help clients maximize value and drive performance across the retail, commercial and industrial, real estate, manufacturing, brand and intellectual property sectors and more. Hilco Global provides a range of customized solutions to healthy, stressed and distressed companies to resolve complex situations and enhance long-term enterprise value. Hilco Global works to deliver the best possible result by aligning interests with clients and providing strategic advice and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has more than 810 professionals operating on four continents. Visit www.hilcoglobal.com.

SOURCE Hilco Trading, LLC