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NEW YORK CITY-The Carlton Group is marketing a $144-million portfolio of non-performing condominium loans and REO assets for a major financial institution, Carlton chairman Howard Michaels announced Tuesday. The institution’s identity was not disclosed; the portfolio consists of 16 assets in Florida and four in Alabama.

In a release, Steven Yazdani, managing director of Carlton Advisory Services, says, “Investors will be able to bid on individual assets within the portfolio that meet their particular investment criteria.” The portfolio is being marketed through Carlton’s online auction platform, Carlton Exchange, which earlier this week announced it was marketing a nine-state portfolio worth $350 million.

Among the highlights of the pool, according to Carlton, are a newly built 45-unit luxury waterfront condominium project, fractured condominium projects generating in-place income as rental properties, a substantially completed 90-unit condominium project, a newly built 34-unit townhome project and infill residential and commercial land assets.

The assets are being offered on a competitive sealed-bid basis with indicative bids due Dec. 10. Carlton Exchange was launched in August in response to what Carlton calls increased demand from institutional buyers and sellers of loans and REO assets for a more efficient, transparent marketplace. The company has been in the loan sale and REO business since its founding in 1991, and says it has sold $14 billion worth of such assets since then. For more information, visit www.carltonexchange.com.

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