"KDX Ventures is expecting strong interest in these HUD loans due to increasing demand for product from investors around the world," says DebtX CEO Kingsley Greenland, in a statement. "Over the past three months a significant new number of investors have entered the whole loan marketplace. The increasing liquidity is likely to mean very active bidding for the HUD loans."
The loans range from as little as $1 million to as much as $30 million. The associated property is located throughout 12 states and the loans may be bid upon individually or as pre-determined pools of loans. Bids can be made at www.debtx.com.
DebtX is a full-service loan sale advisor, while KEMA is a boutique financial advisory firm. DebtX is agreed to market loans for HUD starting in October of 2008 and is currently involved in the sale of $424 million worth of loans from FDIC receivership. DebtX had no comment regarding the loans when contacted.
Mission Capital Advisors in Austin is handling a similar issue, trying to dispose of a $140-million defaulted loan secured by 15 multifamily assets. Unlike the HUD loans, this one must be sold as a single unit.
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