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.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 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.
