OAKLAND, CA—Locally-based Starwood Waypoint ResidentialTrust has picked up another pool of non-performing loansfor $73.3 million. The total purchase priceincludes 430 NPLs and 81 REO homes.
The $58.7 million total purchase price of the NPLs representsapproximately 69.6% of the estimated broker price opinion value of$84.4 million at the time of purchase.
This deal follows Starwood's acquisition in August of twoseparate pools of nonperforming loans for $218.7million. That deal consisted of 1,294 nonperforming loansand 146 REO homes.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
