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Lenders Selling $1B in Overdue CMBS on Veritas San Francisco Portfolio

Lenders tap Eastdil to sell overdue loans backed by 95 apartment buildings.

The largest apartment landlord in San Francisco, Veritas Investments, is facing the loss of more than a third of its multifamily portfolio in the city as its lenders seek to offload $1B in loans that are in default.

Eastdil Secured is marketing the unpaid mortgage loans, which are backed by 95 apartment buildings in San Francisco encompassing 2,452 units and 45 ground-floor commercial storefronts, the San Francisco Business Times reported.

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