New York-based real estate capital markets solutions firm Mission Capital Advisors has announced that the Federal Deposit Insurance Corporation (FDIC) has retained the firm’s Commercial Loan Sales and Trading Group as the loan sale advisor on a diverse portfolio of loans with an aggregate unpaid principal balance of $57.6 million.
Mission Capital Advisors announced that its Commercial Loan Sales and Trading Group has successfully arranged the sale of a loan portfolio with $199.8 million in unpaid balances and a book value of $150.1 million.
FOR IMMEDIATE RELEASE
201-465-8007
Mission Capital Managing Director Stephen Emery arranged for the purchase of the portfolio for
$87.6 million from First BanCorp, the bank holding company of FirstBank Puerto Rico. The transaction will de-risk the bank’s balance sheet, as it divests from loans that are primarily REO and non-performing and classified commercial loans.
“As Puerto Rico looks toward a revival, many of the island’s financial institutions are interested in eliminating risk from their balance sheets,” said Emery. “Despite the failure of Doral Bank during the transaction, the robust demand that we saw when marketing this portfolio demonstrates the significant interest that investors have in Puerto Rican assets, including non-performing and REO assets. The buyer is a newer entrant to the Puerto Rican market for an acquisition of this type, and, with a limited amount of product, they were quite eager to invest in this portfolio.”
With this transaction, Mission Capital Advisors continues to solidify its leading position in Puerto Rican loan sales. The capital markets solutions firm has now arranged three separate all-cash portfolio transactions of both commercial and residential loans, which totaled more than $800 million of unpaid principal balance or appraised value.
Mission was involved with all aspects of the transaction, including valuation and analysis, generating a robust data tape and asset summaries, establishing and maintaining the due diligence data room, conducting multiple bid rounds and assisting First Bancorp with the settlement.
“With our wide range of industry relationships, we received many bids from investors looking to extract value from the loans,” said Emery. “Ultimately, we finalized terms with a buyer that recognized the value of the offering and was able to offer First Bank a strong price and a quick close.”
Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York City, Florida, Texas, California, Michigan and Mobile, Al. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across commercial and residential loan sales; debt, mezzanine and JV equity placement; and loan portfolio valuation. Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more
than $45 billion of loan sale and financing transactions, as well as in excess of $14 billion of
Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched
loan portfolio valuation services for both commercial and residential assets. Mission Capital’s seasoned team of industry-leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information, visit HYPERLINK "https://www.missioncap.com" t "_blank" www.missioncap.com.
Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its Commercial Loan Sales & Trading Group has been named the exclusive loan sale advisor for a performing commercial mortgage portfolio.
aferraro@beckermanpr.com
201-649-1186
FOR IMMEDIATE RELEASE
Firm Has Brokered Nearly $900M of Reseller Loan/REO Portfolio Sales
With this latest transaction, Mission Capital adds to its robust pipeline of loan sales activity for resellers, investment groups that have previously acquired loans from third parties and are now sellers after some period of workout and general market price appreciation. The firm has served as an advisor on nearly
$900 million of loan and real estate owned (REO) portfolios on behalf of 15 separate reseller clients across 20 different transactions.
Mission Capital’s Managing Director of Sales and Trading, Tom Hall, is overseeing the assignment on behalf of the repeat seller, a private equity real estate firm.
“PE shops that acquired in bulk at the beginning of the downturn have been big market participants on the sell side, both this year and last,” said Hall. “We are fortunate at Mission to be one of the most active advisors to resellers in the secondary market. It is always gratifying when a buyer that has experienced several processes and acquired from various advisors chooses to run their own sale on your platform. Repeat business from this sector is a testament to our ability to successfully navigate the special circumstances associated with reseller portfolios.”
The offering’s collateral includes commercial, residential, land and C&I assets located across the country, with the largest concentrations in Texas and Florida. The portfolio has an attractive 5.6 percent WAC and
2021 WAM.
This segment of the market shows no signs of slowing down, with another $1 billion of debt sales expected from resellers alone in the second half of 2015.
The combination of strengthening property fundamentals and increased demand for assets has resulted in ideal circumstances for bulk disposition of portfolios previously acquired through the secondary market. Investor groups including debt funds, private equity funds, and other traditional “buy-side” market participants are increasingly taking advantage of rising loan prices combined with servicing efforts to modify or foreclose assets, allowing groups to successfully exit positions and return capital to investors.
Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York City, Florida, Texas, California, Michigan and Mobile, Al. The firm delivers value to its clients through an integrated platform of advisory and transaction
management services across commercial and residential loan sales; debt, mezzanine and JV equity placement; and loan portfolio valuation. Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $45 billion of loan sale and financing transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets. Mission Capital’s seasoned team of industry-leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information, visit www.www.missioncap.com.
PDF File
Download
Mission Capital Advisors announced that its Commercial Loan Sales & Trading Group has been named the exclusive loan sale advisor for a performing commercial mortgage portfolio.
Investors were lining up to squeeze dollars from a loan portfolio offloaded by Puerto Rican banking company First BanCorp as it works to eliminate risk from its balance sheets. Mission Capital Advisors announced that its Commercial Loan Sales and Trading Group arranged the sale of the loan portfolio with $199.8 million in unpaid balances and a book value of $150.1 million.
APRIL 11, 2016
Search
HOME FINANCE & ACCOUNTING FIRST BANCORP SELLS $199M LOAN PORTFOLIO
BROKERS WEEKLY CONSTRUCTION & DESIGN DEALS & DEALMAKERS RETAIL
FINANCE & ACCOUNTING
FINANCE & ACCOUNTING ADVERTISE
BY REW • JULY 1, 2015
Investors were lining up to squeeze dollars from a loan portfolio offloaded by Puerto Rican banking company First BanCorp as it works to eliminate risk from its balance sheets.
REW
Mission Capital Advisors announced that its Commercial Loan Sales and Trading Group arranged the sale of the loan portfolio with $199.8 million in unpaid balances and a book value of $150.1 million.
Managing director Stephen Emery arranged for the purchase of the portfolio for $87.6 million from First BanCorp.
0 LIKES
0 COMMENTS
The transaction will de-risk the bank’s balance sheet, as it divests from loans that are primarily REO and non-performing and classified commercial loans.
PHOTO BY TRACY O/FLICKR
TAGS
BANK FIRST
BANCORP
“As Puerto Rico looks toward a revival, many of the island’s financial institutions are interested in eliminating risk from their balance sheets,” said Emery.
“Despite the failure of Doral Bank during the transaction, the robust demand that we saw when marketing this portfolio demonstrates the significant interest that investors have in Puerto Rican assets, including non- performing and REO assets.
LOAN PORTFOLIO
MISSION CAPITAL ADVISORS
PUERTO RICO
“The buyer is a newer entrant to the Puerto Rican market for an acquisition of this type, and, with a limited amount of product, they were quite eager to invest in this portfolio.”
Mission Capital Advisors capital markets solutions group has now arranged three separate all-cash portfolio transactions of both commercial and residential loans in Puerto Rico, which totaled more than $800 million of unpaid principal balance or appraised value.
DONE DEALS: Bolls strikes gold
Transwestern tapped to lease business park
HKS secures $34M for boutique NoMad hotel venture
Times Square light rail takes step forward
Havas considering
300,000 s/f deal at
60 Hudson
Linkwithin
0 Comments
1 Login
Recommend
⤤ Share
Start the discussion…
Be the first to comment.
Mission Capital Advisors announced that its Commercial Loan Sales and Trading Group has been retained by the Federal Deposit Insurance Corporation (FDIC) as the loan sale advisor for a diverse portfolio of 122 real estate and business loans with an aggregate unpaid principal balance of $57.6 million.
DRAFT – NOT FOR RELEASE
smorgulis@beckermanpr.com
201-‐465-‐8007
NEW YORK (July 27, 2015) — Mission Capital Advisors, a leading national real estate capital markets solutions firm, announced that its Commercial Loan Sales and Trading Group has been retained by the Federal Deposit Insurance Corporation (FDIC) as the loan sale advisor for a diverse portfolio of 122 real estate and business loans with an aggregate unpaid principal balance of $57.6 million. The portfolio is being offered in nine separate pools.
Loan types include residential real estate, commercial real estate, ADC, and C&I. The portfolio is collateralized by assets located across the country, with a significant portion of the collateral concentrated in the Chicago area. Loan performance is mixed with a combination of performing, sub-‐ performing, and non-‐performing assets offered from 17 different failed banks.
The Mission Capital team of Michael Britvan, Kyle Kaminski, and Balin Michael is handling the
transaction on behalf of the FDIC.
“The portfolio features a wide range of assets, with the nine pools determined based on collateral location and type and loan performance,” Britvan said. “This is one of the larger FDIC cash sale portfolios we have seen of late, and we anticipate a great deal of interest from investors targeting both seasoned performing and distressed debt.”
Since its inception, Mission Capital has maintained a leading role as one of the industry’s most active and respected loan sale advisors. Leveraging emerging technologies and enterprise software solutions, the firm has set the industry standard for the execution of loan sales transactions.
Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York City, Florida, Texas, California, Michigan and Mobile, Al. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across commercial and residential loan sales; debt, mezzanine and JV equity placement; and loan portfolio valuation. Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $45 billion of loan sale and financing transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets. Mission Capital’s seasoned team of industry-‐leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For
more information, visit www.www.missioncap.com.
The Seligman Group has received $309 million to refinance 23 of its assets throughout California. Financing was secured by Mission Capital.
Wootlesday.July o • 2015
NEWPORT BEACH, CAUF. – The
Seligman Croup has received S300 million to refinance 23 of its assets throughout California. The portfolio includes more than 1.9 million squar feet and 800 apartments.
These assets make up the bulk of the San Francisco–based firm's California holdings. It includes 12 commercial properties in Orange County and San Francisco, as well as 11 multifamily communities in Los Angeles.
Financing was secured by Jordan Ray, Ari Hirt, Gregg Applefield, Ste ven Buchwald, Jamie Matheny and Eugene Shevaldin of Mission Caclital Adyisors. The portfolio receive 23 separate loans.
The refinance allowed the Seligman Group to replace i ts existing loans, taking advantage of favorable market conditions as the finn took additional cash out.
