Full-service loan advisor DebtX has announced that it plans to sell more than $358 million of participations, loans, and leases from the Tennessee Commercial Bank receivership on behalf of the Federal Deposit Insurance Corporation (FDIC).
The FDIC portfolio consists of $46.5 million of performing non-lead loan participations and $311.2 million of performing and nonperforming loans and leases. The collateral, which is located throughout the U.S., comprises commercial real estate, aircraft, rolling stock, construction equipment, medical equipment, boats, and business assets.
“We anticipate strong demand for these assets, as well as the $130 million in participations and loans bidding June 26th. Investors are excited to have an opportunity to bid on $440 million in FDIC assets,” said DebtX CEO Kingsley Greenland in yesterday’s press release.
Investors can bid on individual loan participations or on pre-determined loan and lease pools. Sealed bids will be accepted on July 17.