More Than $700 Million In Loans Currently For Sale At Premier Loan
Marketplace
BOSTON, April 7, 2008 /PRNewswire/ -- DebtX, the largest marketplace
for commercial debt, today announced the sale of more than 18 million in
residential and commercial real estate loans secured by properties across
the United States.
The transaction on behalf of a specialty finance company involves the
sale of $117 million in non-performing residential loans and $101 million
in performing and non-performing commercial real estate loans. The loans,
secured by properties from California to New England, have been pooled by
geography. Investors can bid the pools individually or in combinations of
their choice.
The residential portfolio bids April 15, 2008. The non-performing
commercial real estate loan portfolio bids April 17, 2008, and the
performing commercial real estate portfolio bids May 8, 2008. DebtX is
conducting an extensive marketing campaign to U.S. and international
investors. Qualified investors can register to view and bid on the loans at
http://www.debtx.com or call 617-531-3400 for more information.
"Demand for product is strong, and a growing number of institutions are
choosing to tap the extensive liquidity at the DebtX marketplace," said
DebtX CEO Kingsley Greenland. "Institutions are selling to proactively
manage their performing portfolios for improved diversification and risk
management, and to dispose of non- or sub-performing loans quickly rather
than incur significant expenses related to protracted loan workouts."
In addition to the 18 million loan sale announced today, DebtX is
currently managing a separate sale of $380 million in Commercial Real
Estate loans secured by properties in the southeastern United States. The
first of four offerings bids April 15 at http://www.debtx.com, with the remainder
of the sales bidding every three weeks through mid June. In March, DebtX
completed the sale of $46 million in loans on behalf of the FDIC, the first
sale under a five-year contract DebtX signed with the FDIC in December
2007.
With more than 4,000 registered and approved investors and 300
financial institutions selling through its exchange, DebtX operates the
largest and most liquid online marketplace for loans. DebtX works with
financial institutions to sell Commercial & Industrial (C&I), Commercial
Real Estate, residential loans and selected consumer debt. DebtX is based
in Boston, with offices in Atlanta, Chicago, New York, San Francisco and
Frankfurt, Germany.
About DebtX
DebtX is one of the world's leading full-service loan sale advisors for
commercial, consumer and specialty finance debt. DebtX helps commercial
banks, insurance companies, investment banks, government sponsored
enterprises and other institutions increase profitability and reduce risk
by offering comprehensive loan sale advisory services that create liquidity
in an institution's loan portfolio. DebtX operates the largest marketplace
of buyers and sellers of commercial loans and offers a variety of
innovative information and technology services. DXMark(SM) is the first
objective valuation of commercial real estate portfolios based on actual
secondary market loan sales. DXOpen(TM), DebtX's deal management
technology, is used by institutions to sell and syndicate loans directly.
For information, contact, 617.531.3400 or visit http://www.debtx.com.
Available Topic Expert(s): For information on the listed expert(s), click
appropriate link.
Kingsley Greenland
http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=69820
See Also
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- Aventura Trust Investments is Proud to Debut the ATI Premier Equity Group Fund
- Real Estate Developer in 29 Palms, California Seeks Equity Partner
Source: Real Estate Newswire
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