Mission Capital Advisors is now accepting bids for a commercial real estate mortgage loan and REO portfolio with an outstanding balance of $221,355,915 million.
The sale offers potential bidders a chance to buy assets in bankruptcy and sub- and non-performing assets secured by different collateral types, including hospitality, industrial warehouse, retail, office, multifamily, residential condominiums, retail condominiums, townhomes, and commercial and residential development land, throughout Arizona, Florida, Nevada, Texas, Georgia, Alabama and Louisiana.
On behalf of a regional bank, Mission Capital is first soliciting indicative bids from prospective bidders for the buying of individual loan pools, any combination of loan pools, or the entire portfolio, according to a release from the firm.
Overall, there are 50 loans or REOs within eight available pools, which includes 35 loans in Florida, four REOs in Florida, four loans in Georgia, three loans in Texas, and single loans in Alabama, Arizona, Louisiana and Nevada.
"In addition to many of the assets providing cash flow to offset operating expenses, the portfolio is divided into several single asset pools, allowing investors to target specific assets by performance, collateral type or geography based on their individual acquisition criteria," said Will Sledge, managing director at at the firm.
The loan sale adviser, in conjunction with the seller, has prepared a comprehensive due diligence materials available to potential bidders who execute confidentiality agreements, said the release.
A detailed offering memorandum and confidentiality agreement can be found at www.missioncap.com.
Mission Capital has offices in New York, Florida and Texas.