Vendor Selling CRE for Banks

DebtX, Boston, is selling $500 million of mostly commercial real estate loans on behalf of three financial institutions. The first offering consists of $364 million in performing and nonperforming loans with the seller being a Northeastern regional bank. There are two separate bid deadlines on two separate dates. Bids for the first transaction are due June 15 by 2:00 p.m. Eastern. A total of $207 million in loans will be sold, including $76 million of CRE, $57 million of land/acquisition and development, $52 million of commercial and industrial and $22 million of loan participations. Bids for the second transaction are due June 21 by 2:00 p.m. Eastern. A total of $157 million in loans will be sold, including $69 million of CRE, $39 million of C&I, $36 million of land/A&D, $5 million of consumer and an $8 million loan participation. The second seller, an undisclosed bank in the South, is offering $97 million of nonperforming CRE loans for bidding on two separate dates. Both transactions include income-producing properties secured by condominiums and subdivisions throughout the U.S. Bids for the first transaction, which includes $90 million in loans, are due June 3 by 2:00 p.m. Eastern. Bids for the second transaction, which includes $7 million in loans, are due June 16 by 2:00 p.m. Eastern. The third seller, a financial services company in the South, has a portfolio of $39 million of nonperforming CRE loans for sale. The transaction includes loans secured by properties in South Carolina, Florida and Georgia. Bids are due June 8 by 2:00 p.m. Eastern.