Carlton Advisory Services is selling a portfolio of non-performing loans and real estate owned (REO) assets worth a combined $307m. The portfolio includes office, industrial, retail, multi-family, assisted-living facility, and self-storage assets located across 24 states. The New York-based firm said its services were retained by the commercial mortgage-backed securitization (CMBS) trusts that currently hold the assets. The assets will be sold in a sealed-bid auction, with all offers due Feb. 25. Bidders can make offers on individual asset, on any number of assets, or the entire portfolio. Carlton said similar previous offerings have been for land lots and partially completed assets, but this sale is unique in that it includes completed developments. Some of the REO properties included in the portfolio are:
  • 471,444 square-foot enclosed regional mall
  • 207,000 sq. ft. warehouse distribution facility
  • 125,993 sq. ft. multi-tenant office complex
  • 105,668 sq. ft. community shopping center
  • 523-unit self-storage facility
  • 365-unit garden-style multifamily property
“This is clearly one of the best opportunities for investors to buy high quality loan and REO assets secured by income producing properties since the beginning of the credit dislocation,” said Carlton Group director James Gosse. Write to Austin Kilgore.