No bidders came forward yesterday to purchase a North Richmond property that includes the historic Laburnum House. The property was up for auction because it was repossessed by the lender. It had been owned by a Richmond development company, Ginter Place Associates, which is in bankruptcy. The starting bid price was nearly $2 million, said John Selbach of the Cantor Arkema law firm, who represents two owners of Ginter Place Associates. Because there were no bidders, the property was returned to the lender, Oregon-based StanCorp Mortgage Investors.

Ginter Place Associates, a Richmond development company, is in bankruptcy. Don’t confuse it with the Ginter Place condominium project, though, which is doing just fine. The entities sit next door to each other off Westwood Avenue in Richmond’s North Side. “There is a misperception out there about Ginter Place condos and Ginter Place Associates,“ said Ted Ukrop, a co-owner of an investment group that owns the condo project in the former Richmond Memorial Hospital building. The two entities are owned separately, Ukrop said.