MountainView Financial Solutions, a Situs company and an advisor to the financial services industry, announced its role as the exclusive sale advisor for a pool of 1,667 first- and second-lien performing and non-performing loans with a total balance of $97.4 million. MountainView is accepting indicative bids for the offering until 2:00 p.m. EDT on April 3.
The pool is being segmented into four sub-pools: 1,060 second-lien performing loans with a total balance of $47.9 million; 294 first-lien performing loans with a total balance of $28.4 million; 265 secured, second-lien non-performing loans with a total balance of $15.4 million; and 48 first-lien non-performing loans with a total balance of $5.7 million. Bidders have the flexibility to bid on the entire pool or any of the four sub-pools.
"It's rare to see such a large amount of second-lien performing loans in the market, so we expect a high level of interest in this sub-pool from banks and other frequent buyers of seconds," said Jonas Roth, a Managing Director at MountainView and one of the lead advisors on the sale. "We also expect aggressive competition for the other sub-pools from investors who focus on specific product types. Due to high demand, seasoned residential assets, whether performing or non-performing, are getting bid to record low-level yields."
MountainView Financial Solutions, an advisor to the financial services industry, delivers rigorous and objective analysis, data-driven insights and client-centric services that help business leaders climb higher by better identifying, quantifying, and managing credit and interest rate risk exposure and optimizing balance sheet management. Situs is a global provider of strategic business and technology solutions to the real estate industry. Situs has been involved in more than $1 trillion of real estate debt and equity deals across the U.S., Europe, and Asia, and has acquired a number of platforms.
The seller for the pool of loans is an East Coast-based fund.