Boston-based loan advisor DebtX plans to sell $550 million in performing and non-performing loans for the FDIC and seven financial institutions over the next six weeks.
"Financial institutions are accelerating the process of strengthening their balance sheets through active management of their loan portfolios," said DebtX CEO Kingsley Greenland. "Sellers recognize that the healthier they are, the more opportunities there will be to exercise strategic options and grow revenue through new lending."
DebtX is executing the following transactions:
• $17 million offering for a bank in the Northeast. The loans are non-performing and are collateralized by commercial real estate (CRE) and residential properties in New York. Bids will be accepted on Thursday, Sept. 29 by 2 p.m. Eastern.
• $102.2 million offering for a bank in the Northeast. The loans are seasoned performing and non-performing and are collateralized by multi-family, office, industrial and retail properties primarily in the Midwest. Bids will be accepted on Tuesday, Oct. 4 by 2 p.m. Eastern.
• $111.9 million offering for a bank in the South. The loans are performing and non-performing and are collateralized primarily by commercial real estate (CRE) properties and land in the South and Midwest. Bids will be accepted on Tuesday, Sept. 20 by 2 p.m. Eastern.
• $74.6 million offering for a top-tier U.S. bank. The loans are primarily nonperforming and are collateralized by retail properties and land in Arizona, New Mexico and Colorado. Bids will be accepted on Tuesday, Sept. 20 by 2 p.m. Eastern.
• $32 million offering for a regional bank in the Midwest. The loans are seasoned performing and non-performing and are collateralized by retail, lodging, multifamily, office, mixed-use and assisted-living properties. The collateral is located in Ohio, West Virginia and Pennsylvania. Bids will be accepted on Tuesday, Sept. 20 by 2 p.m. Eastern.
• $79.1 million offering for a specialty finance firm. The pools consist of a wide range of judgments and charge-offs. Bids will be accepted on Wednesday, Sept. 21 by 2 p.m. Eastern.
• $22.4 million offering for a specialty finance company. The loans are seasoned performing and are collateralized by office, retail, mixed-use and self-storage properties in eight large states. Bids will be accepted on Thursday, Sept. 22 by 2 p.m. Eastern.
• $45 million offering for a bank in the Pacific Northwest. The loans are nonperforming and are collateralized by retail, office, self-storage properties and land. Bids will be accepted on Thursday, Oct. 13 by 2 p.m. Eastern.
• $28.7 million offering for the FDIC. The loans are performing and nonperforming and are collateralized by real estate, business assets, stock, vehicles and boats. Bids will be accepted on Tuesday, Oct. 18 by 1 p.m. Eastern.
• $38 million offering for the FDIC. The loans are primarily unsecured and are performing and nonperforming. Bids will be accepted on Thursday, Oct. 18 by 1 p.m. Eastern.
