Mission Capital tapped to sell performing commercial mortgage portfolio

August 5, 2015

Source: Real Estate Finance & Investment

Mission Capital is marketing a portfolio of performing commercial mortgages on behalf of a private equity firm.

Rialto Shops Distressed Portfolio

Rialto Capital is offering a hodgepodge of distressed, small-balance assets as a package.

The portfolio contains 411 loans with a total original bal- ance of $125.8 million and a current balance of $92 million. Some 63.7% of the total is secured, primarily by residential lots, land and single-family homes that are concentrated in the Southeast. The remaining 36.3% consists of unsecured commercial loans.
Virtually all of the real estate loans are in various stages of foreclosure, “providing investors with an abbreviated and clear path toward obtaining title to collateral,” according to marketing materials distributed by Mission Capital, which is advising Miami-based Rialto on the offering.
Investors must bid on the entire portfolio. Initial offers are due Oct. 5. A sale is expected to be completed by mid- November.

REAL ESTATE ALERT: September 28, 2016, 5 Marine View Plaza, Suite 400, Hoboken NJ 07030. 201-659-1700

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