DebtX Selling Bank Loan Portfolio

DebtX Selling Bank Loan Portfolio BOSTON, MA - DebtX, the largest marketplace for loans, today announced that it will sell $105.5 million in primarily non-performing loans for a regional bank in the western United States. The portfolio is comprised of 71 loans and 33 relationships. The collateral includes commercial and residential properties located primarily in California, Washington, Oregon and Arizona. The three largest loans in the pool have a combined principal balance of $47.6 million.

Bids are due by 2 p.m. Eastern time on Monday, March 22, 2010. Due diligence materials are now available at www.debtx.com.

"Over the past six months, the number of bids per offering at DebtX has increased an average of 25% due to heightened demand for performing and non-performing loans," said DebtX CEO Kingsley Greenland. "A growing number of equity buyers are seeking to re-enter the commercial real estate market by purchasing loans because many distressed properties are in default or are unable to service their debt. Buying the loan is a very effective way to again own commercial real estate."

DebtX is one of the world's leading full-service loan sale advisors for commercial, consumer and specialty finance debt. DebtX operates the world's largest and most liquid online marketplace for loans, with more than 6,000 registered and approved investors and more than 300 selling institutions, including commercial banks, insurance companies, investment banks and government-sponsored enterprises. DebtX also offers DXMark® , the first objective valuation of commercial real estate portfolios based on actual secondary market loan sales. DXOpen® is a family of deal management products used by syndication and agency services professionals. DebtX is based in Boston, with U.S. offices in Atlanta, New York, and San Francisco, and European offices in London, Madrid and Frankfurt.
Source: DebtX

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