Gryphon USA Retained by Bankruptcy Trustee to Sell Properties of Jose Villavicencio

Gryphon USA has been engaged by Chapter 7 Bankruptcy Trustee Myron Terlecky to manage the sale of real estate owned by Jose Villavicencio, a Columbus landlord whose properties have been the subject of significant legal and regulatory scrutiny.

 Villavicencio, a former physician, accumulated a portfolio of rental properties in Central Ohio. In recent years, however, many of these properties have drawn widespread attention due to serious code violations and criminal activity that occurred on-site. City officials have shut down multiple properties tied to Villavicencio, citing them as hubs for drug-related crimes and safety hazards. In 2023, Villavicencio was sentenced to jail time and fined after being held in contempt of court for failing to address persistent violations and nuisance conditions at his properties.

At the directive of the Court, Mr. Terlecky has moved to liquidate Villavicencio’s real estate assets for the benefit of creditors. Gryphon USA, a leader in real estate auctions and asset disposition, will oversee the marketing and sale of these properties through its competitive bidding platform.

 “The bankruptcy court process provides a structured and transparent framework to address the disposition of these assets,” said Richard Kruse, Managing Partner of Gryphon USA. “Our role is to ensure that the properties are professionally marketed and sold at fair market value, while also facilitating closure for creditors and the community.”

 The sale of these properties will take place via online auction through Gryphon USA’s bidding platform.   Details regarding specific properties, auction dates, and participation terms are available at www.gryphonusa.com.