KDX Ventures, a joint venture between DebtX and KEMA Advisors, will sell $234 million in multifamily and healthcare loans for the U.S. Department of Housing and Urban Development (HUD).
The portfolio consists of 18 multifamily commercial real estate loans and three healthcare loans, ranging in size from $1 million to $44.3 million. The collateral is located in Arizona, Connecticut, Washington, D.C., Florida, Kentucky, Michigan, Minnesota, North Carolina, Ohio and Rhode Island.
Investors may bid on individual loans or on pre-determined loan pools, KDX Ventures says. Due-diligence materials and a list of loans for sale are available on DebtX's website.
"This is another HUD portfolio that will appeal to both national and regional buyers," says DebtX CEO Kingsley Greenland. "Because of HUD's outstanding reputation, we again expect very active bidding."
In April, KDX Ventures successfully auctioned $306 million in nonperforming multifamily and healthcare loans for HUD. The 12 winning bids generated proceeds of more than 48% of unpaid principal. Sixty-seven bidders submitted more than 200 individual and pool bids for the 26 loans offered.