Eighty percent of portfolio is categorized as performing loans. Merrie Duncan, marketing director for Oklahoma City-based First Financial Network Inc., tells GlobeSt.com that the pool mix includes seven gaming loans totaling nearly $66 million that will be individually offered. "That's an interesting spin on this portfolio," she says.

Thirty-seven percent of the portfolio's properties are located in Arizona, 36% in Nevada, 15% in California and the balance scattered throughout other western and southwestern states. Duncan says the portfolio will be marketed to First Financial's traditional wholesale loan buyers, commercial real estate investors and financiers of gaming properties.

First Financial has divvied the portfolio of fixed and variable rates into stratified pools. Any loan exceeding $5 million is considered a single pool. A hotel, encumbered by $16 million, is considered one pool as is an eight-loan residential package with a $2.2-million debt. "The reason this is done is to increase participation," Duncan explains. "This allows investors to select what they want."