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$80M CRE Loan Portfolio Coming to Sales Block

OKLAHOMA CITY-First Financial Network will sell 79 conventional and 504 SBA loans for assets scattered across the US. The due-diligence period opens June 16.

By Amy Wolff Sorter | Updated on June 04, 2008

OKLAHOMA CITY-A commercial loan portfolio, valued at $80 million, will hit the market in the coming weeks. The portfolio consists of 79 conventional and 504 Small Business Administration loans, all secured by commercial real estate throughout the country.

Merrie Duncan, marketing director with First Financial Network Inc. of Oklahoma City, says the non-bank national lender currently holding the paper is bringing the loan portfolio to market to bring liquidity back to the company for future lending activities. First Financial Network is marketing the portfolio.

Duncan says June 16 will launch the due diligence period, with bids to be accepted July 22. The closing will take place Aug. 8.

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