Carlton Group was retained on behalf of various CMBS trusts on the sale of around $307 million of non-performing loan and REO assets located throughout the U.S.
This loan and REO sale consists of many prime office, industrial, retail, multi-family, assisted-living facility, and self-storage assets located in 24 states.
The recent loan sales have been mostly characterized by land lots as well as other partially completed assets.
However, this asset sale offers well capitalized local and regional investors as well as national players the ability to acquire loans and REO secured by high quality, and in most instances, cash flowing collateral.
Below are descriptions of a few of the assets securing the loans and REO that are being offered through Carlton in this sale.
· 471,444 SF enclosed regional mall
· 207,000 SF warehouse distribution facility
· 365-unit garden-style multifamily property
· 125,993 SF multi-tenant office complex
· 105,668 SF community shopping center
· 523-unit self storage facility
The assets are being offered on a competitive sealed-bid basis with bids due February 25th, 2010. Prospective bidders may bid on an individual asset, on any number of assets, or the entire portfolio. This sale provides prospective bidders an opportunity to purchase loan and REO assets in major markets.
“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” says James Gosse, director at the Carlton Group.
Carlton Advisory Services is an international real estate investment banking firm that focuses on commercial and residential loan sales, debt and equity placement and merchant banking.