$58 Million SFR + Small-Multi Fix & Flip NPL Portfolio

Attributes

Unpaid principal balance

₹4,916,790,297

Loan status

Non-Performing

Asset Description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller, a Private Lender, to arrange the sale of a $58.2 million commercial loan portfolio (the “Portfolio” or “Loans”). The Portfolio is secured by the fee-simple interest in 68 properties ranging from Single Family Rental, Multifamily, and Mixed-Use buildings across the US, with a large concentration in New York (the “Properties” or “Collateral”).

The majority of the Properties are located in the New York / NYC Metro (61%) and Florida (22%). The major asset types include Single Family Rental (60%), 2-4 Unit (17%), Multifamily (11%), and Mixed-Use (5%). Investors are encouraged to bid as a portfolio.

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Investment Highlights

Path to Ownership

With the Loans currently in default and substantial legal process already completed (several loans have completed the legal process, and the collateral is being prepped for sale), the buyer inherits the opportunity to enforce remedies and direct a path to title.

Attractive Basis

At $58,231,381 in total unpaid principal balance, the Loan basis is at an attractive discount to both total collateral value at closing ($93,538,925) and replacement cost.

Transaction Timeline

Call for Offers: November 22, 2024

Closing: On or before December 16