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KDX Auctions $306M HUD Portfolio

BOSTON-The joint venture between KEMA Advisors and DebtX sold 26 non-performing multifamily and healthcare loans.

By Ryan Clark | Updated on May 13, 2010

BOSTON-KDX Ventures, a joint venture of DebtX and KEMA Advisors, recently completed an auction of a 26-asset portfolio of non-performing HUD loans. The assets consist of multifamily and healthcare loans, specifically for the US of Housing and Urban Development.

DebtX CEO Kingsley Greenland states in a release, “The strong proceeds from this HUD sale demonstrate the pent-up demand and liquidity for commercial real estate assets.” There were 76 bidders in total submitting over 200 individual and pool bids. The winners were 12 bids which created proceeds over 48% of unpaid principal balance. He continues, “Over the past two years, investors have amassed a tremendous amount of capital to invest in commercial real estate loans, but there has been only a small amount of product available for sale.”

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