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.”

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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.

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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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A 207-room hotel in Goshen, IN and a pair of retail assets inWashington, IN and Grawn, MI are also in the portfolio, as is a3,100-square-foot automotive service facility in Brockport, NY.Earlier this year, Carlton’s Joe Korbar told GlobeSt.com that suchgeographically diverse portfolios offered advantages for bothsellers and buyers.

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For sellers, part of the appeal is “reducing concentration ofrisk,” said Korbar, managing director at Carlton. “Also, you canoptimize your pricing by not just focusing on one distressed regionor city. And the buyer’s advantage is that you have more assetsthat are nationally dispersed. You open up a whole new buyer’smarket.”

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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.