Mission Cap Brokering $55M RE Portfolio

Mission Capital Advisors LLC, a New York-based loan sale adviser, is accepting bids for a $55 million portfolio of nonperforming commercial mortgage loans and real-estate-owned properties. On behalf of an unidentified Southeast bank client, Mission Capital said it is soliciting indicative bids for the purchase of an individual asset, any combination of assets, or the entire portfolio. "The portfolio is divided into 17 single-asset pools, allowing investors to target specific assets by performance, collateral type, or geography based on their individual acquisition criteria," Mission Capital said. The real estate collateral consists of developed condominium, retail, office, mixed-use, and single-family properties, as well as commercial and residential development land, in Florida, Georgia, South Carolina, Nevada, Virginia, Tennessee, and North Carolina. Mission Capital is initially soliciting indicative bids by Aug. 21, with final bids due on Sept. 11. The company can be found online at http://www.missioncap.com.