A California corporation, NANO BANC, has announced the public auction of pledged partnership interests in three separate multifamily residential properties in Orange County, California, following events of default under a security agreement dated September 12, 2025. The auction is scheduled for September 9, 2026, and will be held at the Orange County Superior Court in Santa Ana, with an option for remote participation via videoconference.
The assets being sold include 100% of the limited and general partnership interests in Monterra Investment LP, Arrowhead Stanton Apartments LP, and Pacifica Garden Apartments LP. These interests are held by The Marcil Family Trust, established in 1997, along with Woodglen Apts., LLC, which collectively serve as the pledgors under the agreement. The sale is in partial satisfaction of outstanding indebtedness, which includes principal, interest, default interest, late charges, legal fees, and other costs.
Monterra Investment LP’s primary asset is a 133-unit multifamily property located at 2841 East Lincoln Avenue, Anaheim, while Arrowhead Stanton Apartments LP’s key property is a 168-unit multifamily complex at 12381 Arrowhead Street, Stanton. Pacifica Garden Apartments LP’s main asset is a 244-unit multifamily property at 2833 North Bristol Street, Santa Ana.
NANO BANC holds secured interests in these entities, perfected by financing statements filed with the California Secretary of State earlier this year. The sale will be limited to the pledged partnership interests only and does not constitute a sale of the underlying real estate, which will continue to be subject to existing liens, encumbrances, and transfer restrictions.
The Monterra and Arrowhead partnership interests will be auctioned as two separate lots beginning at 11:30 a.m. Pacific Time, with an indebtedness amount exceeding $37 million as of June 30, 2026. The Pacifica Garden Apartments interests will be sold as a single lot at 11:00 a.m. Pacific Time, with an outstanding balance exceeding $8.6 million as of the same date.
The sale will be conducted by Mannion Auctions, LLC, led by licensed auctioneer Matthew D. Mannion. Prospective bidders are required to become “Qualified Bidders” by meeting financial criteria and submitting a $500,000 deposit at least five business days before the auction. Interested parties must also execute a confidentiality agreement to access due diligence materials.
The terms emphasize that the pledged interests are being sold “as is, where is,” without recourse or warranties, and subject to all prior claims and third-party consents. The secured party reserves the right to set reserve prices, credit bid, and reject bids or postpone the sale as deemed appropriate.
Bidders or interested parties are instructed to contact NANO BANC’s broker, Greg Corbin of Northgate Real Estate Group, and the auctioneer for detailed terms and bidding instructions.