Managing director Steven R. Scorgie tells GlobeSt.com that the loans are secured by a variety of assets--including office, industrial and hotels--dotted the country.
He was tight-lipped on the identities of the nine different institutional and investment partnership sellers who were contributing the assets, although a prepared statement hinted that they included "an insurance company, several investment and commercial banks and three hedge and investment-partnership funds." Scorgie predicts that, with RFPs going out today, final bid winners will be tapped by the end of May.
The loans consist primarily of performing, sub-performing and nonperforming loan assets. There are also a number of retail and hotel B-Notes being offered and a small collection of loans unrelated to real estate.
Even though the RFPs are going out today, Carlton founder and chairman Howard L. Michaels boasts that, "we've already seen a tremendous amount of interest from the investment and banking community in this loan sale."
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
