Mission Capital Advisors is now accepting bids for a portfolio of performing, sub-performing and nonperforming commercial mortgage loans that are secured by various commercial real estate in Florida, with a balance of more than $62 million.

On behalf of an unidentified seller, the firm is first going to solicit indicative bids from prospective bidders for the purchase of an individual asset, any combination of assets, or the entire portfolio.

The portfolio, according to a release, is divided into 16 single asset pools. This allows buyers to target specific assets by performance, collateral type or geography based on their individual acquisition criteria. The real estate collateral consists of office, retail, luxury homes (ocean and golf), townhouses, developed residential lots as well as oceanfront development land.

Mission Capital Advisors is initially soliciting indicative bids by Nov.19 with all final bids due on Dec. 9. The sale must be completed before Dec. 15 and investors will be required to finalize loan sale agreements before the final bid date.

The release said that Mission Capital, along with the seller, has prepared a comprehensive assessment of due diligence materials that will be made available to prospective bidders who have executed confidentiality agreements. A detailed offering memorandum and confidentiality agreement can be found at www.missioncap.com.

Aside from this portfolio, Mission Capital Advisors is also accepting bids on the following commercial mortgage loans:

$331 million - Various commercial in Florida, Arizona, Nevada, Indiana and Minnesota
$27 million - Office and multifamily in New Jersey and Michigan
$12.7 million - Hospitality in New York
$5.68 million - Retail in North Carolina

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