NEW YORK, NY - Mission Capital Advisors, LLC, an industry leading commercial, residential and consumer loan sale advisor with offices in New York, Florida, Texas and California, is currently marketing a portfolio of commercial mortgage loans with an outstanding balance of approximately $252,000,000.
The sale offers prospective bidders an opportunity to acquire non-performing assets, secured by a variety of collateral types, including multifamily, office, retail, industrial, and mobile home parks throughout Michigan, Ohio, Illinois and Indiana. The majority of the assets are operating and providing cash-flow to offset operating expenses and will trade at discounts relative to risk and performance.
On behalf of a commercial lender, Mission Capital is soliciting final bids (on September 23rd) from prospective bidders for the purchase of individual loans, any combination of loans, or the entire portfolio. Overall, there are 31 loans available, including 16 loans in Ohio (one loan contains security in Indiana), 14 loans in Michigan, and 1 loan in Illinois.
"The secondary market has been awash in acquisition and development asset sales and investors have been vocal in their desire to acquire loans secured by vertically improved and operating collateral where workout options tend to be less limited," said Will Sledge, managing director at Mission Capital Advisors. "This loan sale represents just such an opportunity. The portfolio is a balanced mix of asset classes and collateral types. In terms of bidding, Mission allows investors to pick their spots and bid individual credits based on preferences related to performance, asset class and geographic location. "
Mission Capital, in conjunction with the seller, has prepared a comprehensive array of due diligence materials that is available to prospective bidders who execute confidentiality agreements. A detailed offering memorandum and confidentiality agreement can be found at www.missioncap.com/deals or by calling 212-925-6692.
Founded in 2002 by William David Tobin and Joseph A. Runk, Jr., Mission Capital has emerged as one of the industry's leading boutique investment banking firms. The company specializes in structuring the sale of performing, sub-performing, non-performing and charged-off residential, commercial, C&I, and consumer loan portfolios, providing Fannie Mae and Freddie Mac securitization, implementing a suite of surveillance/transaction management services and raising capital. Mission has advised a variety of leading financial institutions on more than $24 billion of loan sale and financing transactions, and in excess of $12 billion of Fannie Mae, Freddie Mac and FHA/VA buyout securitizations/cash trades since 2002. Mission Capital's clients include Bank of America, SunTrust Bank, Fifth-Third Bank, AmSouth/Regions, Key Bank, UBS, National City/First Franklin, HSBC, CWCapital Asset Management, LNR Partners, Capmark (GMACCM), Pacific Life, ING Clarion, ORIX Capital Markets, Lehman Brothers, Credit Suisse, Lone Star Funds and many other leading financial institutions and investors. Mission Capital maintains offices in New York; Palm Beach Gardens, Fla.; and Austin, Texas. For additional information, visit www.missioncap.com.
Source: Mission Capital Advisors, LLC