Mission Capital Advisors said it is accepting bids for a commercial real estate mortgage loan portfolio with an outstanding balance of $500 million.
The sale offers prospective bidders an opportunity to acquire performing, sub- and non-performing assets secured by a variety of collateral types, including multifamily, office, student housing, condominiums, marina, industrial, residential and commercial land, medical office, bank stocks, among others, throughout Florida, Illinois, Wisconsin, Arizona, Colorado, New Jersey, Kansas, Minnesota, Indiana, North Carolina, Nevada, Ohio, Missouri and Virginia.
On behalf of an unidentified seller, Mission Capital is initially soliciting indicative bids on May 27 from prospective bidders for the purchase of individual loan pools, any combination of loan pools or the entire portfolio. The loan pools are broken down by region with the largest portfolios located in Florida, Illinois and Wisconsin.
Many of the loans have recent appraisals, which will be provided to investors The sale must be completed prior to quarter end; investors will be required to finalize loan sale agreements prior to the final bid date on June 16