""DebtX"":http://www.debtx.com/, a loan sale advisor based in Boston, announced Tuesday that it readying plans to sell approximately $200 million of performing commercial real estate loans on behalf of a major U.S. financial institution.[IMAGE] [COLUMN_BREAK]
""The loans offered in this sale will provide an opportunity to purchase product of very high quality,"" said Kingsley Greenland, CEO of DebtX.
The sale, which is set to take place August 18, will include 90 performing loans collateralized primarily by properties in California, New York, Washington, Washington, D.C., and Illinois. The loans up for bid were underwritten for multi-family, retail, industrial, office, warehouse, and mixed-use properties, as well as mobile home parks and self-storage facilities.
""We're expecting strong interest from national banks, community banks, and institutional investors,"" Greenland said. ""For sellers, the sale of performing loans demonstrates how financial institutions can work with DebtX to rebalance their portfolios through active portfolio management.""