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Carlton Markets $250M of Low-Balance Loans

NEW YORK CITY-Carlton's Korbar says the nonperforming loans in 28 states 'allow everyone to get into the distressed debt game.'

By Paul Bubny | Updated on April 02, 2010

NEW YORK CITY-The Carlton Group is marketing more than $250 million worth of first mortgage, nonperforming, small-balance commercial loans, chairman Howard Michaels announced Friday. Balances on the loans, which Carlton is selling on behalf of a “highly motivated” major institutional seller, range from $300,000 up to $5 million, according to a release.

Managing director Joe Korbar says in the release that the small-balance loans “allow everyone to get into the distressed debt game.” The loans are spread across 28 states; more than 60% are concentrated in New York, Florida, Massachusetts, California and New Jersey.

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