Mission Capital Advisors Accepting Bids For $296 Million Commercial Portfolio

Posted by Orb Staff on February 18, 2009 No Comments
Categories : Commercial Mortgage

Loan sale advisor Mission Capital Advisors LLC is presently accepting bids for a commercial real estate mortgage loan and real estate owned (REO) portfolio with an outstanding balance of approximately $296 million.

The sale offers prospective bidders an opportunity to acquire subperforming and nonperforming assets secured by a variety of collateral types, including developed retail, office, marina and industrial, developed condominiums and homes, and commercial and residential development land, throughout Arizona, Florida, Nevada, Texas and Tennessee.

On behalf of an unidentified seller, Mission Capital is initially soliciting indicative bids from prospective bidders for the purchase of individual loan pools, any combination of loan pools, or the entire portfolio. Overall, there are 57 loans or REOs within seven available pools, including 38 loans in Arizona, three REOs in Arizona, 10 loans in Florida, two REOs in Florida, two loans in Nevada, one loan in Texas, and one loan in Tennessee.

A detailed offering memorandum and confidentiality agreement can be found at www.missioncap.com.

SOURCE: Mission Capital Advisors

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