G8 Capital LLC, which buys distressed-mortgage loan portfolios, has closed its 13th portfolio acquisition and expanded its current focus beyond California to include all of the western U.S.
‘We are pleased to complete our 13th portfolio acquisition in the past one-and-a-half years and are ready for what is shaping up to be an extremely active 2009,’ says Evan Gentry, president and CEO of G8 Capital. ‘We work closely with banks and other sellers to move assets and associated risk off of their books in a quick and efficient manner. Because we are all-cash principal buyers, we have a great deal of flexibility, which other buyers may not have, as well as the ability to close on transactions very quickly.’
The company, which has focused on the California market in the past year, has seen comparable opportunities in other Western states, Gentry says. G8 Capital has also raised an additional $80 million to be used for immediate acquisitions. The company reports it is in active due diligence on new deals.
SOURCE: G8 Capital