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Carlton Brings $500M in Loan Sales to Market

NEW YORK CITY-Carlton Advisory Services is marketing four separate offerings, mostly representing broken condo deals and land development loans from California to the Southeast.

By Cody Lyon | Updated on March 19, 2009

NEW YORK CITY-Investment banking firm Carlton Advisory Services says it’s marketing about $500 million in commercial, residential loans and single-family REO homes for sale in four separate offerings. Currently, the loans and REO offerings include a $91-million portfolio in commercial and residential A and D construction loans for a California-based lender.

Indicative bids for the $91-million group were due Thursday, “and final bids are due a week after that” for the group, Carlton’s managing director, Thom McCarthy, tells GlobeSt.com. “This is primarily a California portfolio of commercial loans of various types with a concentration of broken condo deals and land development loans.”,p>Also included under the $500-million umbrella is a $100-million discounted senior mezzanine loan secured by a Class A Manhattan office tower, which McCarthy couldn’t disclose. There are also another $100 million in single-family REO located in a dozen different states that will be broken into pools, $30 million of land and commercial A and D loans in the Southeast and another $150 million in commercial and residential development loan assets concentrated in the Southeast and Midwest.

McCarthy tells GlobeSt.com that $200 million of the loan group is negotiated and is facilitated between a targeted buyer and a very large financial institution. He says his company is selling, on behalf of a bank, an REO pool approaching $100 million.

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