DebtX has announced its involvement in the sale of two loan portfolios.
The first portfolio, scheduled for sale on March 22, includes $105.5 million in primarily nonperforming loans for a regional bank in the western U.S. The portfolio comprises 71 loans and 33 relationships, and includes commercial and residential properties located primarily in California, Washington, Oregon and Arizona, DebtX says. The three largest loans in the pool have a combined principal balance of $47.6 million.
The second portfolio, which is being sold through KDX Ventures – DebtX's joint venture with KEMA Advisors – is scheduled for sale on March 24. The portfolio consists of $306 million of multifamily and healthcare loans, and KDX is selling it on behalf of the U.S. Department of Housing and Urban Development (HUD).
The HUD portfolio consists of 25 multifamily commercial real estate loans and one healthcare loan, ranging in size from $1.6 million to $44.3 million. The collateral is located in 14 states across the country, and investors may bid on any individual loan or on predetermined pools of loans.
"KDX Ventures anticipates robust interest in this HUD portfolio due to pent-up demand for commercial assets in general and multifamily product in particular," says DebtX CEO Kingsley Greenland. "HUD has an excellent reputation in the marketplace, and there is typically active bidding for product offered by the agency."