DebtX to Sell $500 Million in Loans

BOSTON, May 24 /PRNewswire/ -- DebtX, the largest marketplace for loans, today announced it will sell approximately $500 million of mostly Commercial Real Estate (CRE) loans on behalf of three financial institutions.

The following transactions will be offered on multiple bid dates in June.  Due diligence materials for all transactions are available now at www.debtx.com.

• $364 million of performing and non-performing loans for a Northeastern regional bank bidding on two separate dates.  Bids for the first transaction are due Tuesday, June 15 by 2:00 p.m. Eastern.  A total of $207 million in loans will be sold, including $76 million of CRE, $57 million of Land/Acquisition & Development (Land/A&D), $52 million of Commercial & Industrial (C&I), and $22 million of loan participations. Bids for the second transaction are due Monday, June 21 by 2:00 p.m. Eastern.  A total of $157 million in loans will be sold, including $69 million of CRE, $39 million of C&I, $36 million of Land/A&D, $5 million of consumer, and an $8 million loan participation.
• $97 million of non-performing CRE loans for a bank in the South bidding on two separate dates. Both transactions include income-producing properties secured by condominiums and subdivisions throughout the U.S. Bids for the first transaction, which includes $90 million in loans, are due Thursday, June 3 by 2:00 p.m. Eastern.  Bids for the second transaction, which includes $7 million in loans, are due Wednesday, June 16 by 2:00 p.m. Eastern.
• $39 million of non-performing CRE loans for a financial services company in the South. The transaction includes loans secured by properties in South Carolina, Florida and Georgia.  Bids are due Tuesday, June 8 by 2:00 p.m. Eastern.

"Sellers are moving aggressively to dispose of loans and benefit from stronger balance sheets," said DebtX CEO Kingsley Greenland.  "Investors have an opportunity to buy a wide range of both performing and non-performing loans from these sales."

Qualified investors interested in the loans can contact Kevin Kelley at 617.531.3433 or Will Mercer 617.531.3429, or visit www.debtx.com to place bids or access due diligence materials.

About DebtX

DebtX is one of the world's leading full-service loan sale advisors for commercial, consumer and specialty finance debt. DebtX operates the world's largest and most liquid online marketplace for loans, with more than 6,000 registered and approved investors and more than 300 selling institutions, including commercial banks, insurance companies, investment banks and government-sponsored enterprises. DebtX also offers DXMark®, the first objective valuation of commercial real estate portfolios based on actual secondary market loan sales. DXOpen® is a family of deal management products used by syndication and agency services professionals. DebtX is based in Boston, with U.S. offices in Atlanta, New York, and San Francisco, and European offices in London, Madrid and Frankfurt. For information, call 617.531.3400 or visit www.debtx.com.

SOURCE DebtX

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