DebtX to Sell $234m HUD Commercial Mortgage Portfolio

Boston-based loan sale advisor DebtX will sell $234m of multifamily and healthcare loans for the US Department of Housing and Urban Development (HUD). DebtX — through its KDX Ventures partnership with Hillsborough, NC-based boutique investment banking firm KEMA Advisors — will accept bids on the HUD portfolio until 1 p.m. ET on Sept. 9, 2010. Investors are able to bid on individual loans or pre-determined loan pools. The portfolio consists of 18 multifamily commercial real estate loans and three healthcare loans, ranging in size from $1m to $44.3m. The collateral on the loans is located in Arizona, Connecticut, Washington DC, Florida, Kentucky, Michigan, Minnesota, North Carolina, Ohio and Rhode Island. "This is another HUD portfolio that will appeal to both national and regional buyers," said DebtX CEO Kingsley Greenland. "Because of HUD's outstanding reputation, we again expect very active bidding."

Click here to view this article from its source.