The Roseview Group completed the sale of three loan portfolios totaling $740 million in unpaid principal balance.
Roseview advised a large regional bank client on the sale of national portfolio of non-performing residential mortgages. The portfolio's unpaid principal balance was more than $600 million at the close of the transaction.
Roseview also advised on the sale of a portfolio of commercial real estate notes totaling approximately $120 million in unpaid principal balance. The portfolio included more than 70 non-performing loans grouped in more than 20 different borrower relationships. The collateral for the loans was spread across the Southeast, and was comprised of income-producing assets, developed homes, as well as commercial and residential land.
Lastly, Roseview advised on the sale of a portfolio comprised of more than 50 commercial real estate notes totaling more than $20 million. Roseview's bank client sold the notes, all classified as performing and traded at par (or face value) to another commercial bank.
"Par sales of performing loans are different in many respects from discounted distressed debt transactions, and we were pleased to help engineer a transaction that was strategic for both parties. For the seller, this will help free up resources to devote to more 'core' assets, and these loans are a much better strategic fit for the purchaser," said Josh Anderson, chief operating officer at Roseview. "We are very pleased with the strong response we received from the marketplace and our success procuring the type of competitive offers from highly-qualified bidders that our clients deserve."
Through its advisory business, Roseview finds creative solutions to assist banks and lenders by providing strategic counsel and active asset management services for nonperforming assets. Roseview has now advised clients on the resolution of more than $2.75 billion in distressed and non-core real estate assets since 2010.