Jones Lang LaSalle (“JLL”) has been retained by the Seller, a regional bank, on an exclusive basis to arrange the sale of a ~$100 million CRE loan portfolio (the “Loans” or the “Portfolio”). The 25-relationship Portfolio includes forty-one (41) CRE loans with a total principal balance of $99.7 million (99.4% of UPB) secured by first-lien mortgages and two (2) C&I loans. The Loans feature a WAC of 4.0%, a WA LTV of 57.4%, and a WAM of 5/15/2026.
- The Portfolio consists of twenty-four (24) performing loans with a total principal balance of $93.2 million (93.5% of UPB) and nineteen (19) non-performing loans with a total principal balance of $6.5 million (6.5% of UPB). The underlying CRE collateral is primarily located in New York (39 loans, $99.1 million, 99.4% of UPB) which consists of mixed-use (29.1% of UPB), multifamily (28.3% of UPB), office (24.0% of UPB), and retail (11.6% of UPB) properties.
- The Portfolio will be offered in four (4) sub-pools: (i) Brooklyn CRE Relationship; (ii) Small Balance CRE Pool; (iii) New York Office Relationship; and (iv) New York Retail Condo Loan. JLL will consider bids for (i) any sub-pool, (ii) any combination of sub-pools, or (iii) the Portfolio in its entirety.