The Panama City Beach condo market realized its second bulk condominium building purchase today.  Marina landing closed the fifty four remaining developer units today.  Marina Landing condominium stands sixteen stories and holds eighty seven bayfront units. 

We have had bulk buyers looking at Panama City Beach condominiums for several years now.  In most cases it becomes a three party negotiation between the buyer, seller and the bank.  Banks tended to be the largest obstacle in these transactions.  They were not willing to take the write downs that would be needed to find a bulk buyer. 

While Marina Landing is only our second bulk purchase, it will not be the last.  We have a different condominium in negotiations right now.  We are likely to see a few more bulk purchases as we move thru this real estate market. 

Bulk buyers can actually help a real estate market.  Different condominium projects have varying absorption rates.  With current market conditions, it is easy to reach a price point where you are simply devaluing property by forcing an absorption rate.  Bulk buyers can adjust this while helping financial institutions clean up their books.