$252M Commercial Mortgage Loan Portfolio For Sale

Posted by Orb Staff on August 27, 2009 No Comments
Categories : Commercial Mortgage

Mission Capital Advisors LLC, a commercial, residential and consumer loan sale advisor with offices in New York, Florida, Texas and California, is currently marketing a portfolio of commercial mortgage loans with an outstanding balance of approximately $252 million.

The portfolio includes nonperforming assets that are secured by a variety of collateral types, including multifamily, office, retail, industrial and mobile-home parks throughout Michigan, Ohio, Illinois and Indiana. The majority of the assets are operating and providing cashflow to offset operating expenses and will trade at discounts relative to risk and performance, Mission Capital says.

On behalf of a commercial lender, Mission Capital is soliciting final bids on Sept. 23 from prospective bidders for the purchase of individual loans, any combination of loans or the entire portfolio.

Overall, there are 31 loans available, including 16 in Ohio, 14 in Michigan and one in Illinois.

SOURCE: Mission Capital Advisors

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