DebtX to Sell $160 Million in Commercial Loans for German Bank
Loan sale advisor DebtX is selling $160 million in performing and nonperforming commercial real estate loans from Deutsche Postbank.
The three separate loan transactions are collateralized by properties in the United Kingdom, Germany and the Netherlands.
The U.K. property features hotels that are selling for $81.7 million, while the German property consists of retail centers that are on the market for $53.5 million and the office and industrial properties in the Netherlands are valued at $25.2 million.
Boston-based DebtX will be accepting bids for the three loans on Wednesday, Sept. 28. Investors can place their bids for any of the German-based bank's loans by visiting the DebtX website.
Gifford West, managing director and head of DebtX's European operations, said the firm has had success selling multiple international loans for Deutsche Postbank and other foreign banks over the past few years.
“DebtX is a proven way for European institutions to maximize the price of hard-to-sell assets no matter where the loans were originated or are collateralized,” West said.
“DebtX is a highly liquid marketplace that provides access to approved institutional investors of all sizes, including the many smaller investment and hedge funds that have become the most active buyers of bank loans. European banks that need to sell loans are recognizing that contacting the same few investors neither satisfies their fiduciary responsibility nor demonstrates that the best price was achieved.”