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New York -- Mission Capital Advisors LLC, a commercial, residential and consumer loan and asset sale advisor here, is accepting bids for a $108 million portfolio of 20 subperforming and nonperforming commercial mortgage loans that are secured by commercial and residential real estate in Florida and Minnesota.
The portfolio is being sold on behalf of an unidentified Midwest bank client with a presence in the Florida market.
Mission Capital previously marketed a $131.2 million package of 18 similar loans for the same bank in March 2008, which was sold in its entirety to four different investors.
According to the company, the portfolio is divided into 20 single asset pools, allowing investors to target specific assets by performance, collateral type or geography based on their individual acquisition criteria. The real estate collateral consists of developed condominiums, waterfront land, office, retail mixed-use, commercial and residential development land, ...