Thursday, November 30, 2023

Government’s auction of confiscated real estate set for June 23

Confiscated real estate — one parcel housed a meth lab — goes on the block next week in another government auction.

The System of Administrative Allocation of Assets (SAE) has opened registration for the real estate auction that will take place on June 23 at Los Pinos, the former presidential home.

The 27 parcels are located in 11 states, while 10 are located in México state alone. All were confiscated by the Attorney General’s Office (FGR) or federal courts.

The total starting price of the properties is about 176.5 million pesos (US $9.2 million).

The cheapest is a lot in Culiacán, Sinaloa, priced at 215,100 pesos, while the most expensive is the Rancho Los Tres García in Naucalpan, México state, priced at over 32 million. It was confiscated from convicted drug trafficker Carlos Montemayor, father-in-law of Edgar “La Barbie” Valdez Villarreal, after the former was arrested in 2010.

This Cancún house is valued at 9.7 million pesos. Its narco-provenance is unknown.
This Cancún house is valued at 9.7 million pesos. Its narco-provenance is unknown.

Another property is part of the Centenario Ranch in Jilotepec, México state, which was confiscated after police found a methamphetamine laboratory there in 2011.

Anyone who wants to participate in the auction can buy passes until June 20. they can be purchased at SAE office and convenience stores across the country. After getting a pass, participants must then register at an SAE office.

Prospective buyers who want to participate by telephone can register at SAE offices before June 18, and will be required to leave a deposit of 20,000 to 500,000 pesos, depending on which items they wish to bid on.

Proceeds from previous auctions held by the SAE were directed towards aiding poor communities and addiction centers. The SAE did not say what the proceeds from the real estate auction will be used for.

Source: El Universal (sp)

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