Mexicans tap Carlton for $46m loan sale.
Carlton chairman Howard L. Michaels has announced that Carlton has been retained by two undisclosed Mexican financial institutions to conduct a sealed bid loan and REO sale of over $46 million of condominium and detached SFR construction loans, performing and nonperforming SFR mortgages and REOs, located throughout Mexico."Even though Mexican financial institutions maintained strong lending standards while US standards deteriorated, the weakening Mexican economy is forcing many financial institutions to begin deleveraging" says Farzin Emrani, managing director at Carlton's Los Angeles office who is managing this sale. "This sale will provide investors with an opportunity to acquire loan and REO assets for significant discounts to value."
Outlined below please find a description of some of the truly exceptional assets which are being offered through Carlton: a 99-unit condominium project located one block from the ocean; partially completed 64-unit detached SFR community; pool of 14 performing SFR mortgages; pool of 96-non performing SFR mortgages; and pool of 27 SFR REO.
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| Comment: | Mexicans tap Carlton for $46m loan sale. |
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| Publication: | Real Estate Weekly |
| Date: | Dec 2, 2009 |
| Words: | 160 |
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