Clark Street Capital, a Chicago-based provider of asset management and advisory services, has announced it is marketing a $200 million loan portfolio secured by multifamily, mixed-use, residential, commercial and land assets in the Chicago area. With approximately 90% of the assets located in the Chicago metropolitan area, this is the largest loan sale offering in the current economic cycle, the company says.
This portfolio is offered in the following diverse pools, arranged by property type and asset quality:
- two-to-four-unit multifamily properties;
- five-plus-unit multifamily properties;
- mixed-use properties of various performance types;
- performing single-family residences (SFRs) and residential condos;
- sub- and nonperforming SFRs and condos;
- performing retail and office assets;
- sub- and nonperforming retail and office assets; and
- residential and commercial development land.
Full due diligence information is available electronically, with indicative bids due by Jan. 26. Final bidders will be selected on January 27, with final bids due on Feb. 4 and a closing date scheduled for Feb. 10.
Buyers will have access to succinct asset summary reports prepared by Clark Street Capital and Loan Workout Advisers LLC, recent site inspections, and appraisals for the vast majority of the assets, the company adds.Â
SOURCE: Clark Street Capital