Diliberto Seeks Distress Loans for $100M Fund

Frank Diliberto tells GlobeSt.com that KDC, a surveying and engineering firm, want to buy "distressed but quality assets." He says the plan is to buy loans in large volume at wholesale prices, then to sell the assets in smaller blocks at a 15% to 20% return. There's no interest in taking over any unfinished properties, he says. "We're looking to maintain the developer as a principal of the deal, they're the best candidate to finish the job."

One way to sell the properties will be to use the auction process, he says. "Auctions are a very good vehicle to sell assets quickly, though the buying activity is still slim. We're starting to see the general investment market getting back into buying real estate, so hopefully we can capitalize on that," Diliberto says.