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MarketBeat


Highly Focused Fund Seeks $300 Million In Small-Cap Deals

The third commingled fund from the Graycliff Capital team targets infusions of $1 million to $5 million in second-tier Southeast and Midwest markets that larger investors tend to avoid. The IRR target is high-teens.Read More


NPL Dispositions Slowdown? Not Really

Well-heeled fund managers have shifted NPL acquisition targets toward the small-balance sector - and even portfolios of micro-balance assets, according to one industry expert. Read More


A10 Capital Raise Positions Small-Balance Lender for Growth

Direct balance-sheet lender A10 Capital, one of few lenders funding NPL purchases, has just raised $100 million in equity and an equal amount of debt financing. Target borrowers are entrepreneurs pursuing ‘transitional’ assets including non-performing small-balance loans. Read More


Banks, CMBS Trusts Step Up Small-Balance NPL Dispositions

Factors including year-end financial reporting, slow-to-recover fundamentals and persistent defaults are combining to generate a spurt of distressed-asset dispositions. And as loan-sale advisors point out, local experts targeting small-balance notes are the primary beneficiaries. Read More


Oaktree Investment Turns Renamed Sabal Into Portfolio Player

Thanks to a key equity infusion from powerhouse Oaktree Capital Management, veteran Pat Jackson's Sabal Financial Group is targeting a $10 billion portfolio of assets under management - secured mostly through acquisitions of distressed-laden, small-balance bank-loan portfolios. Read More


Small-Balance NPL Portfolio Pipeline Expanding

Investors frustrated by the paucity of small-balance non-performing loan portfolios offered to date can expect a deeper pipeline going forward as banks opt to shed more distressed assets, experts predict. But investors better possess patient capital and considerable asset resolution expertise. Read More


NPL Liquidations Picking Up: Small-Balance Included

Dispositions of non-performing loans large and small appear to be accelerating, typified by record first quarter conduit loan liquidations, a big FDIC securitization last month, and a $1 billion auction slated for mid-May. Read More


Mission Capital's New Mission: Providing Debt to Note-Buyers

Note-sale firm Mission Capital sees a logical progression from selling distressed notes to real estate investors to securing new debt for those buyers. Read More


Distressed Small Hotel Opportunities Abound - But Carry Considerable Risks

Banks and conduit loan servicers are now offering many distressed loans secured by small hotels. And lots of experienced local operators seem poised to pounce on the opportunities. Read More


Opportunists Target Small-Cap REOs in Recovering Denver

Lenders in the stabilizing Metro Denver marketplace are listing more office and industrial REOs for sale. And opportunistic investors and users are snapping them up. Read More


Ram/Square Mile JV Is an Instant Force in Smallish SE Strip Malls

Southeast retail owner-operator Ram is partnering with New York fund manager Square Mile Capital on a portfolio of non-performing loans secured by shopping centers totaling 1.8 million square feet. The unusual arrangement has investment funds managed by each partner contributing equal amounts of equity. Read More


Marcus & Millichap Joins Online NPL Auctioneer Roster

Marcus & Millichap teams with RealtyBid on yet another online auction format for disposing of individual, mostly small-balance commercial real estate assets. But the likes of the FDIC and LNR continue pursuing bulk sales. Read More


Foreclosure Activity Hints At More South Florida Opportunities Ahead

Distressed-property sales have been slow so far in hard-hit South Florida. But the recent boost in foreclosures suggests more small-balance opportunities ahead - for those willing to take on the considerable market risk. Read More


California's Hard-Hit Inland Empire Sheds Distressed Assets

Some lenders are offering distressed small-balance assets at quite attractive prices in the depressed Inland Empire marketplace. But with rents still falling fast, these investments carry no shortage of risk. Read More


Special Servicers, Local Experts Adopting Online NPL Auctions

Online auctions of non-performing loans continue to heat up, with small-balance assets clearly leading the way. Special servicers are now quick to offer distressed small-balance mortgages through the online format - and local specialists end up buying most of the offered assets. Read More


Georgia Banks Pushing Atlanta-Area REO Sales

Small-balance REO trading is starting to spike in metro Atlanta this year, as both investors and users warm up to earnest selling of foreclosed properties by Georgia banks. Read More


REOs, Short Sales Picking Up as Phoenix Area Lenders and Investors Compromise

The boom-and-bust Phoenix marketplace is seeing more REO sales and even a few short sales. And pre-foreclosure activity suggests more to come. Read More


Leave No Rock Unturned: Supplementary Tools for NPL Due Diligence Lower Risk

In pursuing NPLs, it can be difficult to determine whether the borrower will seek bankruptcy protection or otherwise contest enforcement. Public records can offer clues, but investors should investigate further. Read More


Loan Doc Due Diligence Is Critical with NPL Purchases

When performing due diligence on non-performing mortgage purchases, loan documents and lender motivations should be the top priority, expert participants suggest. The latest lender-borrower correspondence can also disclose risks to be factored into bids. Read More


Small-Balance Non-Performing Loan Offerings Increase

With CMBS special servicers becoming more amenable to auctioning off non-performing loans, investors are seeing more attractive portfolios of assets being offered for sale. The latest offerings include plentiful small-balance NPLs, with some new note sales platforms allowing would-be buyers to bid "real-time" for individual assets. Read More




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