The Department of Housing and Urban Development has completed a sale of 37 multifamily, assisted-living facility, and nursing home loans for $147 million.The Sept. 15 sale attracted 17 bidders, and the five winners paid 73 cents on the dollar for the loans, which have an unpaid principal balance of $200 million, according to HUD. The winning bidders are: Lone Star U.S. Acquisitions Group, an affiliate of the Lone Star Funds in Dallas; Lenox Mortgage IV LP, an affiliate of Aspen Square Management in West Springfield, Mass.; GF Asset Management LLC, an affiliate of GE Capital Corp. in Norwalk, Conn.; and Asset Solutions Group, an affiliate of Cargill Trading in Minnetonka, Minn. KEMA Advisors, Washington, managed the sale for HUD. HUD plans to conduct two more multifamily loan sales over the next 12 months. The next sale is tentatively scheduled for March.
HUD Sells MF, Health Facility Loans
October 13, 2004, 2:00 p.m. EDT 1 Min Read
