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Allied Sells Commercial MBS Portfolio.(Brief Article)

Mortgage Servicing News

| July 01, 2005 | COPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Washington -- Allied Capital has sold its commercial mortgage-backed securities portfolio and collateralized debt obligation assets to Caisse de depot et placement du Quebec for cash proceeds of about $976 million.

And Allied Capital has also entered into a letter of intent with Caisse for the sale of some of Allied Capital's other commercial real estate assets, including servicer advances, intellectual property, software and other "platform assets".

This could happen by the end of the second quarter, Allied Capital said.

Bill Walton, chairman and CEO, Allied Capital, said, "With this sale we are monetizing the value of our sizable CMBS and CDO ...

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Source: HighBeam Research, Allied Sells Commercial MBS Portfolio.(Brief Article)

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