The Carlton Group launched The Carlton Exchange (CEX), which is a proprietary loan and real estate owned (REO) asset sale platform, the firm said today.
The platform was created in response to the increased demand from institutional buyers and sellers of loan and REO assets for a more efficient, transparent marketplace, the firm said.
CEX provides buyers and sellers with a competitive bidding process designed to produce multiple, non-contingent final bids accompanied by money deposits and executed, pre-negotiated asset sale agreements. Each step of the transaction process is to be handled through CEX.
CEX is now marketing over $500 million in performing and nonperforming commercial and residential real estate and land development loans lthroughout the U.S. Additionally, Carlton has marketed above $2 billion of performing and nonperforming residential and commercial loans for some of the country’s biggest investment banks and financial institutions, regional banks and other distressed sellers of assets since the start of the credit crisis in 2007.