ALISO VIEJO, CA-CT Realty Investors has completed the process of selling a portfolio of office, warehouse and residential assets located throughout Southern California—Riverside County, Orange County and San Diego County—including some senior mortgage notes for a total of more than $30 million. The portfolio featured multiple residential, industrial and office properties purchased by CT Realty Investors in 2009 and 2010 through several senior loan pool acquisitions.
CT Realty has been an active purchaser of distressed debt and maintains an active debt resolution business unit, according to a prepared company statement. According to Carter Ewing, executive vice president of CT Realty Investors, the company acquired many of the properties in mid-2010.
The approximately 140,000-square-foot portfolio was assembled from several pools of distressed debt sourced by CT Realty Investors directly in multiple off-market transactions. Many of the senior notes that were sold with the portfolio were originally acquired by CT Realty out of the former Lehman Brothers estate, with the balance of the distressed debt being acquired from regional banks.
“CT has been an active purchaser of under-performing debt instruments, and this portfolio is an example of our successful resolution capabilities,” Ewing says. Much of the portfolio was marketed and sold quickly to several investors over the past six months in accordance with the company’s business plan for the properties, according to a statement.
CT Realty Investors could not provide GlobeSt.com with additional information on the identity of the investors at this time. “In addition to several recent purchases in the Inland Empire industrial marketplace, CT has been actively seeking institutional quality industrial, multifamily and distressed debt investments throughout Southern California,” Ewing explains. “Our team has worked together for 15 years and knows how to respond quickly to new opportunities. In the case of this latest portfolio transaction, they worked through a variety of challenging issues to enhance the property values as swiftly as possible.”
Since its establishment in 1994, Aliso Viejo, Calif.-based CT Realty Investors has completed more than 200 transactions with value in excess of $2.5 billion through a series of 10 independent discretionary private equity real estate funds, and continues to invest in institutional quality industrial properties, debt instruments, multi-family properties and other income-producing assets in Arizona, Colorado, New Mexico, Nevada, Oregon, Utah, Washington and California. Properties acquired in California are located in the following counties: Alameda, Contra Costa, El Dorado, Fresno, Glenn, Kern, Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Clara, Solano, Sonoma, Stanislaus and Tulare. The focus of CT Realty’s investment activities is to acquire well-located assets in major markets with the potential to enhance their value through a solid, hands-on management approach.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
