BEVERLY HILLS, Calif. , Aug. 19 /PRNewswire/ -- Kennedy Wilson Auction Group, a division of the national real estate services and investment firm Kennedy Wilson, conducted an auction of 31 condominiums at the Shores, located in the San Francisco Bay Area , in the East Bay's coveted Marina Bay area.

All homes were sold at the auction, which was held at the Doubletree Hotel and Executive Meeting Center in Berkeley, CA. Bidders arrived early and additional seats had to be provided to accommodate the large number of prospective bidders. The great enthusiasm and the high intensity of the bidding indicated that despite the current housing market, homebuyers' interest in the area is still very strong. The condominiums sold for as much as 150% of the minimum bids.

'The seller was very pleased to have sold over 7.6 million dollars of inventory in ninety minutes,' said Rhett Winchell, president of the Kennedy Wilson Auction Group. 'The rapid sale of this project is a clear indication of the high demand for moderately priced housing alternatives in the Bay Area, and also of the interest auctions are generating in the current market,' continued Winchell.

Marina Shores is located on the waterfront, and many of these homes offer views of the Bay and the San Francisco skyline. Each complex has a fitness center and swimming pool. Since first built approximately 20 years ago, homes have been upgraded with new appliances, updated bathroom finishes, wood-burning fireplaces, and washers and dryers. The project is also close to major transportation thoroughfares, including I-580 and I-80 and provides convenient access to San Francisco and the East Bay. The units consist of one and two bedrooms, ranging in size from 690 square feet to 922 square feet.

Founded in 1977, Kennedy Wilson is a real estate services and investment firm headquartered in Beverly Hills, CA , with 20 offices throughout the U.S. and Japan . It seeks opportunities in partnership with clients in pursuit of above-market investor returns and higher real estate values. Kennedy Wilson Auction Group has been a leading force in the auction industry since 1977. Since inception, the Kennedy Wilson Auction Group has conducted many successful auctions of condominiums and single-family home communities throughout the United States , Europe and Asia . It conducts live auctions and sealed-bid sales for all types of residential properties. Click http://www.kwiauctions.com or http://www.kennedywilson.com for further information.

     CONTACT:  Kennedy Wilson
               9601 Wilshire Blvd., Suite 220
               Beverly Hills, CA 90210
               Rhett Winchell
               310-887-6400

SOURCE Kennedy Wilson Auction Group