Sabal Financial Lands $385M Loan Portfolio from FDIC

NEWPORT BEACH, CA-Sabal Financial Group LP has created a venture with the FDIC to service and perform asset-management on a $386 million loan portfolio. Sabal paid $30 million for its minority stake in the venture, which includes both commercial and residential properties, according to FDIC records.

The loan portfolio deal is the third such venture that Sabal has entered into with the federal banking regulator. As GlobeSt.com previously reported in early October, the company acquired a $153-million portfolio of more than 100 performing and non-performing loans, primarily secured by retail, office and industrial properties and land. Sabal bought the portfolio from a Midwest bank. And in September, as GlobeSt.com also reported, the company acquired a $158-million loan portfolio of the failed FirsTier Bank of Louisville, CO from the FDIC’s Small Investor Program.