DebtX is selling around $500 million of mostly commercial real estate (CRE) loans on behalf of three financial institutions in June.
These large deals are occurring after institutions have increased reserves and are moving to get healthy again and exercise their strategic options. Please let me know if you have any questions.
DebtX said it would be offering $364 million of performing and non-performing loans for a Northeastern regional bank bidding on two separate dates in June.
Bids for the first transaction are due Tuesday, June 15. A total of $207 million in loans will be sold, including $76 million of CRE, $57 million of Land/Acquisition & Development (Land/A&D), $52 million of Commercial & Industrial (C&I), and $22 million of loan participations.
Bids for the second transaction are due Monday, June 21 by 2:00 p.m. Eastern. A total of $157 million in loans will be sold, including $69 million of CRE, $39 million of C&I, $36 million of Land/A&D, $5 million of consumer, and an $8 million loan participation.
DebtX said that $97 million of nonperforming CRE loans for a bank in the South will also offer bidding on two separate dates.
Both transactions include income-producing properties secured by condominiums and subdivisions throughout the U.S.
Bids for the first transaction, which includes $90 million in loans, are due June 3. Bids for the second deal, which has $7 million in loans, are due June 16.
A financial services company in the South will also have $39 million on offer in a transaction that includes loans secured by properties in South Carolina, Florida and Georgia. Bids are June 8.
“Sellers are moving aggressively to dispose of loans and benefit from stronger balance sheets,” said DebtX CEO Kingsley Greenland. “Investors have an opportunity to buy a wide range of both performing and non-performing loans from these sales.”