NEW YORK CITY-Manhattan-based Hudson Realty Capital, inassociation with the Federal Deposit Insurance Corp., has acquired109 non-performing commercial property loans last week in an FDICauction. For the portfolio of loans, the real estate fund managerhas paid 18 cents on the dollar.
The unpaid principal balance on the loans exceeds $102 million.Half of the acquisition was financed by FDIC, and the agency willhold a 60% ownership. The portfolio of loans is extended mostly inGeorgia and Florida. For the full story, go to Crain's New York Business.
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