Managing director Joe Korbar says in the release that thesmall-balance loans "allow everyone to get into the distressed debtgame." The loans are spread across 28 states; more than 60% areconcentrated in New York, Florida, Massachusetts, California andNew Jersey.

|

Among the collateral securing the loans are three commercialretail units located in New York; a 71-unit multifamily property inLas Vegas; 12,000 square feet of light industrial space on a1.5-acre parcel in Miami; a 36-unit apartment building and 1.2-acrelot in Baltimore; a 40,000-square-foot office property in Columbia,SC; and a 27,000-square-foot light industrial property in Hopewell,NJ.

|

In the release, Korbar notes that his company has sold more than200 of these types of assets through its Carlton Exchange programwithin the past 60 days.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.