Carlton Exchange to auction $140 million in loans and REO assets
Carlton Exchange is auctioning off $140 million in loans backed by commercial and residential REO assets in the Southwest. The portfolio includes loans and properties in desirable locations for commercial and residential developers, said Robert Hall project manager for the loan sale. The auction also includes 41 upscale, high-end, single-family loans and REO assets. "This auction event is a tremendous opportunity to acquire some excellent fully built, large, cash- flowing hospitality and retail assets in strong markets," said Joe Korbar co-head of Carlton’s Loan Sale Group. CEX is using a real time bid procedure through its CEX Loan and REO MLS Exchange. Prequalified bidders can bid on a first-come, first-serve basis and may bid on individual properties, in mini-bulk or on the entire portfolio. The portfolio includes a two-story, 50,000-square-foot office building with 256 parking spaces in Allen, Texas, a northern Dallas suburb; a new, fully operating 92-room, flagged hotel supported by nearby retail and restaurants; and a 35,000-square-foot shopping center with a 7-Eleven on an outparcel, the later two in the Dallas suburb of Plano. A 14,900-square-foot retail center built in 2008 is available in Flower Mound, Texas, a community north of Dallas/Fort Worth International Airport. The auction also includes an 88-unit apartment complex in Pompano Beach, Fla., just north of Fort Lauderdale. About $20 million of the portfolio consists of single-family homes, many of them in the Dallas-Fort Worth metroplex and many valued at more than $300,000 each. Bids have already been accepted on many of the homes, and they are moving fast, CEX spokesman Justin Piasecki told HousingWire. To see what's available, click here. Carlton Exchange is a subsidiary of Carlton Advisory Services, an international real estate investment banking firm focused on commercial and residential loan sales, debt and equity placement and merchant banking. Write to Kerry Curry.