Boston-based loan sale advisor DebtX is selling $200m of performing commercial real estate (CRE) loans in behalf of a major financial institution on August 18. Unlike recent DebtX offerings of mostly non-performing loans, the new portfolio contains seasoned performing debt. The transaction indicates institutions are managing their portfolios through loan sales, according to an e-mailed statement from the company. “The loans offered in this sale will provide an opportunity to purchase product of very high quality,” said DebtX CEO Kingsley Greenland. “We’re expecting strong interest from national banks, community banks and institutional investors.” The offering includes 90 loans collateralized by properties in California, New York, Washington, Washington DC and Illinois. The mortgages span multi-family, retail, industrial, office, warehouse and mixed-use commercial properties, as well as mobile home parks and self-storage facilities. Bids on the offering are due on August 18 by 2 p.m. EDT. The planned sale arrives after DebtX sold $500m of mostly commercial real estate loans — both performing and non-performing — on behalf of three unnamed institutions in June. It also sold $306m of non-performing multifamily and healthcare mortgages in April on behalf of the US Department of Housing and Urban Development (HUD). Write to Diana Golobay.
Most Popular Articles
With the coronavirus continuing to reshape the face of the country and the economy, the biggest players in the mortgage business are moving to try to make it easier to lend. Last week, it was Fannie and Freddie. Now, it’s the FHA and VA’s turn.
HousingWire CEO Clayton Collins sat down with Association of Independent Mortgage Experts Chairman Anthony Casa to discuss some of the most pressing issues pertaining to the housing industry as the coronavirus that causes COVID-19 continues to create uncertainty within the market. HW+ Premium Content