By Jonathan Denton, BloombergThe Sequim, California, real estate developer that bought up thousands of homes on its land in a deal that raised more than $2 billion has been selling off properties.
The real estate agent who worked on the purchase, Jeff Geller, has said he plans to sell off a handful of homes.
But he has been more careful to avoid a sale of his own.
The Sequis are the first home owners to see their homes in foreclosure in at least two years, according to Geller.
He has been working to reduce the number of foreclosures and has been negotiating with banks for a down payment, which he said would be about $1.8 million.
“The sale will be a little bit of a relief for the people who are out there, and we’re going to help those people with their down payment and that’s all,” Geller said at a press conference Tuesday.
Geller also said he planned to donate some of the $1 million to a local charity.
Gellers real estate agency was the one that purchased the Sequim property, according a Reuters report.
“We have been in business for 20 years and we’ve been through a lot,” Gellers spokeswoman, Jessica Miller, said in a statement.
“We have a tremendous amount of expertise in this business.
We are very happy that our business is here to stay.”
A spokesperson for Sequim told Reuters that Geller has a valid permit for Sequem and has no plans to close the property.
Geler’s company, Sequim Properties, acquired the Sequims property in 2011 for $1 billion.
It also owns the Sequoias former home, the Sequiroids property, and Sequim and his family.
Gelli has been active in the home-buying industry since 2009, helping buy up homes in San Francisco and Los Angeles.
He also has helped with the purchase of properties in Chicago, Chicago, New York, and elsewhere.
Gelleer said he did not have any specific plans for his business but said he was working to minimize the number and the number is very small.
“Our main focus is getting this sale done as quickly as possible,” Gelleer told Reuters in an email.
Gelaers spokesperson, Jessica Cramer, said he is working to get a down-payment in place for a buyer.
“Jeff will be looking for people to help with that down payment,” Cramer said.
“If you want to help out with that, we’re always open to that.”
Sequim, which also has real estate in Santa Clara, California and Santa Barbara, California.
Gellar is the founder and chairman of Sequim.
He said in December that he was sold out of Sequimer properties in San Diego, California by the city of San Diego.
Sequim sold the Sequir property in Santa Barbara to Sequim for $2.5 billion in 2015.
Gellaers company also owns homes in Chicago.
He is the co-founder of a Chicago-based real estate brokerage firm called H2 Real Estate.
The company has offices in Chicago and other markets.
In 2016, H2 bought Sequim properties in Los Angeles and Santa Monica, California for $5.9 billion.
Sequim’s purchase of Sequir properties has sparked concerns among some homeowners who are worried about their homes.
In June, the California Department of Housing and Community Development issued a warning to homeowners that Sequim could be selling their properties.
Sequims chief executive, Steve Lofberg, said the Sequis purchase was a “major milestone” for Sequis real estate team.
Gelman told Reuters he would not comment on the Sequimer sale.
Sequimer’s sale is the second home sale in less than a week, after a home-sale deal was announced for the Sequi home in San Jose, California earlier this month.
The sale of Sequi properties in California has been a boon for the real estate industry, which has seen home prices rise in some markets.
Sales have been up in San Mateo County and in the San Francisco Bay Area in recent months.