In January, Sabal Financing Group LP, a Newport Beach, CA-based financing services management firm that specializes in the acquisition and valuation of portfolios of real estate loans, acquired a $204-million portfolio of performing and non-performing loans. The firm would provide loan servicing and asset management for the portfolio.
Consisting of mainly commercial and resident acquisition, development and construction loans, the acquired portfolio was secured by properties across the US, and “represents the distress in the market that is ailing banks across the country and abroad,” according to the firm.
The acquisition was part of a portfolio sale mandated by the FDIC for the assets of more than 50 recently failed banking institutions throughout the US. It was Sabal’s fourth FDIC transaction. In October, the firm acquired a $385-million portfolio of performing and non-performing loans, which was also part of the ongoing structure sales program with the FDIC.
Read more...GlobeSt.com - FDIC Structured Sales Program Evolves, Investors Take Advantage - Daily News Article
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