DebtX, Boston, has been hired to sell roughly $334 million of troubled acquisition, development and construction loans for a bankrupt real estate fund.
In total, 18 loans will be auctioned. The collateral is spread over nine U.S. states, including two large notes, one for $61 million in Wyoming, and a $55 million mortgage in California. The California note is secured by land and water rights.
DebtX will begin reviewing bids on January 19.
“Given the unique nature of many of the properties secured by these loans, we expect strong interest from local, national and international investors,” said company CEO Kingsley Greenland.