NEW YORK CITY-The Carlton Exchange has been retained as theexclusive seller of $10 million of non-performing first mortgageloans secured by eight commercial office, retail and hospitalityproperties located throughout the United States. In a release,Carlton chairman Howard Michaels calls it “a great opportunity forinvestors to utilize the Carlton Exchange to bid on and acquireloans backed by cash-generating assets.”
The loans are being offered on a competitive real time-bid basisand prospective bidders may bid on individual assets,bidder-defined asset pools or on the entire portfolio. Prospectivebidders may bid at anytime by completing and submitting a bid formthat can be found by clicking here.
Among the assets are a three-story, Mission-style boutique hotelin Colorado Springs CO, initially built in 1921 and renovated in1993. There are also a pair of properties in the Southeast: a1.58-acre land site in Pembroke Pines, FL and a 7,100-square-footmulti-tenant building in the Atlanta suburb of Douglasville,GA.
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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.
