May 22, 2005

Diocese auction nets millions


The Roman Catholic Diocese of Tucson took a huge step Saturday in its chapter 11 reorganization.

It sold off more than 60 properties, with all the proceeds now going towards settling sexual abuse claims.

There were diocese holdings from eight counties all around the state, that were sold, fetching millions of dollars.

The bidding was fast and furious.

There were investors, like Chris Dougherty, looking to buy low and sell high.

"Some of these properties are very, very good," said Dougherty.

Posted by kshaw at May 22, 2005 07:55 AM