Mission Capital Accepts Bids for CRE and REO Portfolios
New York-Mission Capital Advisors LLC is presently accepting bids for a commercial real estate mortgage loan and real estate-owned portfolio with an outstanding balance of $48.2 million.
The sale offers prospective bidders an opportunity to acquire nonperforming and REO assets secured by a variety of collateral types, including office, industrial warehouse, retail, condominium, townhomes, marina, single-family residential and commercial development land.
On behalf of a Southeastern regional bank, Mission Capital is soliciting final bids from investors for the purchase of individual loans/real estate owned assets, any combination of these loans, or the entire portfolio. Overall, there are 17 loans or REO assets available, including five loans in Florida, four loans in South Carolina and six loans and two REO assets in Georgia.
"The portfolio is divided into several single asset pools, allowing investors to target specific assets by performance, collateral type or geography based on their individual acquisition criteria," said Will Sledge, director at Mission Capital Advisors.
"Another appealing aspect of this offering is that many of the assets include vertically constructed elements that can or do provide cash flow to offset operating expenses."
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.