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DebtX To Sell $269M In Loans

Apr 23, 2009 | Reprints | Unlock Link | Print

Boston-based loan sale advisor DebtX will sell more than $269 million in commercial real estate, commercial and industrial and consumer loans from two Federal Deposit Insurance Corp. (FDIC) receiverships on May 12.

The transactions include $190 million being offered on behalf of the FDIC as receiver for Bank of Clark County of Vancouver, Wa., and $79 million being offered on behalf of the FDIC as receiver for FirstBank Financial Services of McDonough, Ga.

The transactions include performing and non-performing loans secured by office, industrial, retail, health care, autos and business assets, the company said.

"We expect strong investor interest for the FDIC loans that DebtX is selling on May 12," said DebtX CEO Kingsley Greenland. "Over the past six months, the number of bids per offering at DebtX has increased an average of 25 percent due to heightened demand for both performing and non-performing product."

Commercial & Industrial