LNR has a loan portfolio of $245 million poised for sale. CWCapital has one priced at more than $340 million. If there was a buzz around RealShare Distressed Assets, held here on Friday, it was that special servicers are getting ready to hang the ‘For Sale’ sign on their notes, and the wave is going to be huge. RealShare is produced by ALM’s Real Estate Media Group, which also publishes Real Estate Forum and GlobeSt.com. Some 200 people were in attendance at this fourth annual event.
“Note sales move back fast to the master servicers,” commented David Bornheimer of Midland Loan Services, which reports a current portfolio of $4.7 billion. He was one of five experts on the event’s Special Servicer Power Panel, not all of whom fully embraced the success of note sales. Not so with Tom Shearer of the aforementioned CWC, who obviously attested to having “a lot of success in note sales.”
Read more...GlobeSt.com - Special Servicers Are Ready to Sell - Daily News Article
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