CWCapital to Sell $2.6B Commercial Portfolio

CWCapital Asset Management LLC is selling $2.6 billion of real estate owned and commercial mortgage loan assets, mostly located in major markets nationwide.

Nearly two-thirds of the unpaid principal balance is secured by office properties. There is 8.9 million square feet of office space, 3.2 million square feet of retail space and 2,129 hotel rooms making up the properties involved.

CBRE together with Auction.com are overseeing the marketing of this portfolio. Potential buyers can submit bids on individual pools, groups of pools, single assets and/or the portfolio in its entirety.

The first round of bidding is scheduled for Nov. 13.

"Evidenced by recent portfolio transactions, CWCapital feels that the market is in prime position to leverage the fluid capital markets and the recovering real estate market. In that vein, we have decided to bring to market a multipool sale of loans and REO assets in the fourth quarter of this year.

“Portfolio sales heighten the execution levels of smaller assets when combined with a blend of asset classes on a larger scale. As always, CWCapital's goal is to achieve maximum recoveries on behalf of the trust, and this market has shown this to be a proven and reliable strategy to do just that,” said Dave Iannarone, president.