Boston-based loan sale advisor DebtX has announced it will sell $788 million in commercial real estate and commercial and industrial loan participations in FDIC receivership from the failed Silverton Bank of Georgia.
The loans are performing and non-performing, with collateral and assets in 27 states, including concentrations in Georgia, Alabama, Florida, Ohio and Washington, the company said.
The largest loan in the portfolio is a $20.7 million participation for residential lots in Las Vegas. More than 140 of the participations are less than $1 million.
Each of the 344 loan participations in the portfolio will be offered on an individual basis. Bids are due by 1 p.m. on Tuesday, Oct. 20.
In addition to the Silverton transaction, DebtX said it currently has more than $655 million in market.
"The Silverton sale is generating strong investor interest, particularly among community banks, which have traditionally been the most active buyers of loan participations," said DebtX CEO Kingsley Greenland. "The Silverton transaction offers a broad range of high-quality product for investors with different investment and risk objectives."
