Sabal Financial Buys Another Huge Loan Portfolio, Plans More

NEWPORT BEACH, CA-Just on the heels of a venture with the FDIC to service and perform asset-management on a $386-million loan portfolio, as GlobeSt.com previously reported, Sabal Financial Group LP adds more to its plate. The locally based company has now acquired a $204 million portfolio of performing and non-performing loans.

Consisting mainly of commercial and residential acquisition, development and construction loans, the acquisition is part of a portfolio sale mandated by the FDIC for the assets of more than 50 recently failed banking institutions throughout the U.S. According to R. Patterson Jackson, CEO of the company, this is Sabal’s fourth FDIC transaction and he points out that it is currently “bidding on others.”