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Avison Young Markets $30M Non-Performing Loan Portfolio

NEW YORK CITY-Justin R. Piasecki, a principal at Avison Young who is handling the deal, tells GlobeSt.com that "it is the right place and right time" to invest in single-family.

By Jacqueline Hlavenka | Updated on October 05, 2012

NEW YORK CITY-Avison Young’s New York office is marketing 69 non-performing first mortgages secured by single-family residences located primarily in the five boroughs and Long Island, GlobeSt.com has learned. The brokerage is working on behalf of the current lender, a finance unit of a multinational organization, to market the portfolio. It is expected to go for $30 million by fourth quarter 2012, according to Justin R. Piasecki, a principal at Avison Young who is handling the transaction.

 “It is the right place and the right time,” he tells GlobeSt.com. “They are looking to own performing loans in their portfolio, and they are not looking to own non-performing. It was the right time for them to sell before the new year and move forward.”

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