DebtX To Sell $1.1B In Commercial, Residential Loans

DebtX will sell $1.1 billion in commercial real estate (CRE) and residential loans in 10 separate transactions through early December.

The sales include $784 million in CRE loans and $363 million in residential loans, with collateral located across the U.S. Boston-based DebtX is executing the transactions on behalf of commercial banks, insurance companies and mortgage servicers.

"The volume of loan sales at DebtX reflects the heightened importance among financial institutions of entering 2011 with a stronger balance sheet," says DebtX CEO Kingsley Greenland. "Financial institutions are selling to take advantage of rising loan prices and growing demand from investors around the world. Given the range of products being offered through early December, DebtX expects active bidding for both performing and nonperforming loans."

Due-diligence materials are available on DebtX's website.

SOURCE: DebtX

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