BankXchange Sells $5.2 Million in Commercial Real Estate Loans.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Bridger Bridg·er , James 1804-1881. American frontiersman and fur trader famous for his tall tales. Commercial Funding announced today that it arranged the sale of $5.2 million in commercial real estate loans through its BankXchange loan trading program. The five-loan portfolio came from a west-coast-based commercial bank that engaged BankXchange to sell 90% participation interests in the loans, while retaining servicing. The loans sold for above-par prices. "The sale was a classic example of our seller using BankXchange to actively manage its commercial real estate portfolio," stated Bridger CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Bob Schonefeld. "The sale created liquidity in the loans and enabled the selling bank to retain primary contact with the borrower through its servicing arrangement." Michael Michael, archangel Michael (mī`kəl) [Heb.,=who is like God?], archangel prominent in Christian, Jewish, and Muslim traditions. In the Bible and early Jewish literature, Michael is one of the angels of God's presence. Malekos, Bridger's Vice President and BankXchange program manager, added, "The opportunity to represent buyers and sellers of seasoned commercial real estate loans should grow significantly in 2005 as banks realign re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. their balance sheets to adjust risk profiles through the economic cycle. Executives and loan officers in our network of commercial banks can now more easily sculpt sculpt v. sculpt·ed, sculpt·ing, sculpts v.tr. 1. To sculpture (an object). 2. To shape, mold, or fashion especially with artistry or precision: their real estate loan portfolios to reflect their evolving commercial real estate credit strategies." BankXchange matches qualified commercial mortgage buyers and sellers among banks throughout the country. It expedites loan sales by combining its online loan analytics with personalized marketing Personalized marketing (also called personalization, and sometimes called one-to-one marketing) is an extreme form of product differentiation. Whereas product differentiation tries to differentiate a product from competing ones, personalization tries to make a unique product efforts through a nationwide sales force. Bridger Commercial Funding's BankXchange program is a loan-trading platform facilitating sales and acquisition of commercial-real-estate debt. BankXchange is the banking industry's commercial-real-estate-loan marketplace. BankXchange's relationship managers assist property-lending and risk-management executives at over 2,200 financial institutions nationwide to buy and sell portfolios, whole loans and participations. For additional information, contact Michael Malekos at (415) 289-3227 or e-mail him at mmalekos@bridgerfunding.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion