BOSTON-DebtX said Thursday it will sell $1.1 billion in commercial real estate and residential loans in 10 separate transactions through early December. Locally based DebtX is executing the transactions on behalf of commercial banks, insurance companies and mortgage servicers.
The sales include $784 million in CRE loans and $363 million in residential loans, with collateral located across the US. Investors can review due diligence materials and submit bids here.
CEO Kingsley Greenland says in a release that the accelerating volume of loan sales “reflects the heightened importance among financial institutions of entering 2011 with a stronger balance sheet. Financial institutions are selling to take advantage of rising loan prices and growing demand from investors around the world. Given the range of product being offered through early December, DebtX expects active bidding for both performing and non-performing loans.”
In July, DebtX brought a $200-million portfolio of performing loans, most backed by multifamily properties, to market for a bank client. GlobeSt.com reported in August that a joint venture of DebtX and KEMA Advisors marketed a $234-million portfolio of multifamily and healthcare loans for the US Department of Housing and Urban Development.
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