KDX Ventures, a partnership between ""DebtX"":http://www.debtx.com and ""KEMA Advisors"":http://www.kemaadvisors.com, will sell $142 million in multifamily loans for HUD, the companies announced Wednesday.
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The portfolio consists of 18 multifamily loans, ranging in size from $1.7 million to $17.4 million. The collateral is located in 10 states across the United States, with a concentration in Texas.
According to a spokesperson for DebtX, most of the loans are non-performing, although they are collateralized by newer or recently renovated multifamily properties.
[COLUMN_BREAK]Investors may bid on any individual loan or on pre-determined pools of loans via the ""DebtX marketplace Web site"":http://www.debtx.com. Bids are being accepted through April 27.
""Investors have noted the increasing quality of HUD collateral over the past few multifamily portfolio offerings,"" said DebtX CEO Kingsley Greenland. ""There has been a corresponding increase in the breadth and depth of the bidding pool.""
DebtX is a loan sale advisor for commercial, consumer, and specialty finance debt. In addition to operating an online marketplace for loan sales for commercial banks, investment banks, insurance companies, the GSEs, and other government agencies, DebtX provides valuation and analytics services, including mark-to-market loan valuations.
KEMA is a minority-owned boutique financial advisory and investment banking firm that assists clients in the management and disposition of real estate loans, commercial loans and other corporate assets.