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NEW YORK CITY-Continuing with what has been a very busy month for the Carlton Group, chairman Howard L. Michaels said Monday that the company has been retained by a major financial institution to market a portfolio of three non-performing loans totaling $96 million. These join hundreds of millions of dollars in loans that Carlton has brought to market since early November.

“We represent a motivated seller that intends to sell these prime assets by Jan. 20, 2010,” says Shlomi Ronen, Los Angeles-based managing director of Carlton Advisory Services, in a release. He says the three loans represent “some of the best assets in terms of location, asset type and investment size” that his company has marketed to date. The seller was not disclosed.

One of the loans is secured by a 145,000-square-foot Manhattan office building with ground-floor retail. The other two derive from substantially complete condominium projects: a 105-unit, mixed-use project in Northern California; and 32 luxury condos and eight apartments at a Southern California location.

The loans are being offered on a competitive sealed-bid basis, with indicative bids due Jan. 8. For more information, visit www.carltonexchange.com.

Last month, when Carlton introduced a variety of loans totaling $381 million to the market, Michaels told GlobeSt.com, “What is happening is that the banks are becoming more serious with respect to selling the assets and to selling them at prices that make sense.” Up until now, Michaels says, the bid-ask gap was an issue; in addition, “banks were reluctant to sell until they got their arms around the assets. Also, banks have begun to make some profits, so they have the ability to take the losses on some of the assets. It’s really a confluence of factors.”

Click here to see Howard Michaels’ GlobeSt.TV interview.

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