Mission Markets $158M Loan Portfolio

NEW YORK CITY—Locally based Mission Capital Advisors says it’s marketing a portfolio of commercial mortgage loans with an outstanding balance of $158.1 million for its client, a commercial bank. Indicative bids are due July 8, according to the offering memorandum on the loan sale.

The sale offers prospective bidders an opportunity to acquire performing, sub- and non-performing assets secured by a variety of collateral types throughout multiple states, according to the memorandum. Most of the assets have been vertically improved and are providing cash flow to offset operating expenses, the memorandum states.

According to a release, Mission Capital is initially soliciting indicative bids from prospective bidders for the purchase of individual loans, any combination of loans or the entire portfolio of 12 loans. The loans, 10 of which are sub-performing or non-performing, are secured by collateral located primarily in California or Florida, although one of the properties is in Mississippi and two are in New York State.