Secured Capital will sell RTC portfolio of nursing homes, loans.Real estate investment firm Secured Capital Corp. of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. will soon begin marketing a new $200 million package of nursing homes and performing loans backed by similar properties for the Resolution Trust Corp., according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. an industry newsletter. The offering will be the second in two months for Security Capital, which last month conducted an offering of non-performing retirement-home loans, reported the Newark, N.J.-based Thrift Liquidation Alert. D. Michael Van Konynenburg, the principal at Security Capital handling the deal, said that the firm's compensation for administering the two deals has not yet been made public. A half dozen bids were received for the first portfolio, which contained 23 loans and three retirement homes. A winner is expected to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. this week. That first offering was comprised of congregate-care facilities, which are defined as apartment buildings or planned communities that are built specifically for the elderly. Unlike nursing homes, they do not include medical facilities. Following a familiar formula, the RTC See real time clock. grouped performing properties with non-performing loans backed by facilities that generate net operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. . Secured Capital's retirement-home offering was enthusiastically greeted by nursing home operators, Konynenburg said. Konynenburg said Secured Capital expects to handle additional deals for the RTC in the near future. |
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