According to a press release from Carlton Advisory Services, the southeast pool consists mainly of loans that are collateralized by retail centers and a handful of flex-warehouse properties. Also in the pool is a three-building office complex in Florida, and a 348-unit multifamily property and 471,444-square-foot regional mall, both of which are in Texas.
The national portfolio also has loans and REO assets in the northeast, Midwest and west. The release notes that the states with the largest concentration of assets are Michigan, at 21%, Texas, which has 15% and Florida, with 9%. The loan portfolio, as a whole, consists of 45% retail assets, 29% multifamily, 12% office, 10% industrial and 4% other. The seven REO assets represent 18% of the portfolio value.
The release notes that indicative bids are due Feb. 25, 2010, with final bids due on March 4. The closing date is March 17. Representatives from Carlton Advisory Service could not be reached by deadline.
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