Non-Performing Loan Sale

Non-Performing Loan Sale

Asset Class:  Hotel & Residential Tower Development Site

Status:  Non-performing loan

RP CRE Role:  Advisor / Broker / Sale

Situation:

A large financial institution was the holder of three promissory notes with an aggregate principal amount of ~$118 million. The notes were secured by a sizable parcel of land in midtown Manhattan.

Performed a detailed market review and valuation of the collateral to establish pricing parameters; identified more than 50 interested buyers; pre-screened and negotiated with 10 potential buyers; gathered and organized all due diligence materials; and maximized recoveries to the lender through a successful sale.

Asset Class:  Hotel & Residential Tower Development Site

Status:  Non-performing loan

RP CRE Role:  Advisor / Broker / Sale

Non-Performing Loan Sale