Following its $1 billion sale of CRE loans this summer to Fortress Investment Group, Capital One is now marketing loans totaling nearly $200 million that is backed by New York commercial real estate, according to marketing materials seen by Bloomberg.
This includes a $120 million non-performing loan backed by five office buildings in NoMad that JLL has been hired to market. Bloomberg reports that the loan originated in 2019 and did not pay the principal balance in May and is now in default.
Also out in the market is a nearly $71 million portfolio of nine performing loans backed by pre-war mixed-use properties in Manhattan, with ground-floor retail and apartments, according to Bloomberg, who reports that the loan is maturing next year. A person familiar with the matter tells the publication that the deal is being offered at a slight discount.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
