On July 17, 2012, Gideon Gratsiani, CEO of CRE PRO, purchased Ulmerton Center in Clearwater Florida for $1,852,000. The property is an approximately 16,000 square foot shopping center, anchored by Five Guys Burgers. Taking the role of stalking horse bidder, Gideon won the property at a bankruptcy auction. The property initially fell into foreclosure when the developer defaulted on a mortgage provided to him by Stearns Bank.
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