What would a new owner of the foreclosed properties do?

Here's where we are at: 34 of the 117 condos at Palermo Palm Springs and the adjacent, mostly undeveloped Phase 2 land are up for sale as a group. Bids were due May 20. A bank's LLC owns them for the time being. Back in June, Positively Palermo had this post: "Hi Penny, through a source in the local real estate business, it appears that the leading bidder for Palermo's unsold units and vacant land is an outfit out of San Diego called Strata Equity Group. They specialize in land development (getting it ready to build and getting the permits from the city) and managing real estate (including residential rentals and commercial space) in emerging markets in Southern California and Arizona." There's no way presently to know if or when the sale to Strata or someone else might go through. We all just have to wait. But over the next days we will examine what a new owner could mean. Strata Equity, for example, seems well situated for the job as it is a developer and manager of rental property. That leads to one obvious question: Will a new owner sell the 34 units or sit on them and continue to rent them out? And if a new owner has rental expertise, will the current rental management company be retained? One possibility, we are told, is that typically a new owner may just put a block of units up for sale as not to flood that market. This also seems likely because there are leases of varying terms on the 34 units. Miss Penny Lane says: She hopes some of the renters will become buyers and stay members of the Palermo's fun family.