Massey Knakal Retained Exclusively To Arrange The Sale Of The Octagan Loan Portfolio
Massey Knakal Realty Services has been retained on an exclusive basis to arrange the sale of the Octagon Loan Portfolio, a pool of small balance performing and non-performing loans located across four states. The loans can be sold as a package or separately.
The portfolio consists of ten loans with a concentration in the New York metro area. Four of the loans are located in New York, four in New Jersey, one in Philadelphia, and one in Massachusetts. The New York and New Jersey collateral properties have strong loan to values, due to desirable locations with solid underlying properties.
The fund selling this pool acquired the bulk of these loans several years ago, so the foreclosure process for several of the loans is soon coming to a close. The fund is selling to close out vintage funds, providing a buyer the opportunity to capitalize on the upside. The bid deadline for the portfolio has been scheduled for Friday, November 9, 2012 at 5:00 p.m.
“Finding a non-performing loan portfolio with well collateralized assets is a rarity in this market, said Massey Knakal Partner James Nelson. “The portfolio provides a buyer immediate upside with several situations approaching resolution,” added Associate Matthew Nickerson.
For more information on this listing, contact Massey Knakal Partner James Nelson at 212.696.2500 or firstname.lastname@example.org
Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.