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Hogan Sells Eastern Shore Land for Out-Of-State Bank

Lawrence J. Hogan, Jr., President and CEO of the Hogan Companies, headquartered in Annapolis, Maryland, announced today that the company recently brokered the sale of a 50 acre, bank-owned property located in Kent County, Maryland.

The Hogan Companies acted as a listing broker for BankMidwest, a Kansas City, Missouri based lender who recently took back the Chestertown area property. The project represents another transaction in Hogan Companies' ongoing work with lenders disposing of their problem real estate assets. The property was once planned for a large, age-restricted community, but previous owners were unable to procure necessary approvals.

Jake Ermer and Mark Prossner of the Land and Commercial Division of the Hogan Companies, worked with the Seller to complete the transaction with a local investor.

The Hogan Companies is the leading land firm in the State of Maryland, has been responsible for the sale of more than 30,000 acres, and assists numerous lenders with the disposition of assets.

CONTACT:
Jake Ermer
The Hogan Companies
2661 Riva Road
Annapolis, MD 21401
410.266.5100

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