Boston-based loan sale advisors DebtX plans to sell more than $318 million in loans in Federal Deposit Insurance Corp. (FDIC) receivership on March 31.
The loans are being offered on behalf of the FDIC as receiver for California-based Security Pacific Bank. DebtX is selling a wide range of performing and non-performing loans secured by multifamily real estate, retail, office, industrial, assisted living and business assets throughout California.
"This FDIC transaction is expected to generate strong interest from buyers around the world," said DebtX CEO Kingsley Greenland. "The FDIC receivership sales are among the growing volume of performing and non-performing loans being sold by global financial institutions seeking to benefit from the liquidity at DebtX’s marketplace."
On March 17, DebtX will also sell a further $220 million in FDIC loans for a number of failed banks. These loans are being offered on behalf of the FDIC as receiver for Sanderson State Bank in Texas, The Community Bank in Georgia, First Georgia Community Bank and IndyMac Bank. These loans are secured by a wide range of collateral, including commercial real estate, business and consumer assets.
