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Lucent Capital Hired to Sell $9 Million Non-Performing Note Secured by LA Area Office Building

Loan sales have been an increasingly popular method for banks to shed loans from their balance sheets and an attractive alternative for investors to purchase properties outright.

 
PRLog - Aug. 17, 2010 - LOS ANGELES -- Lucent Capital, Inc. has been exclusively retained by a Los Angeles-based Financial Institution to sell a non-performing $9 million first mortgage note secured by a 45,000 square foot office building in West Los Angeles.  

“The purchaser of the note will have the ability to either restructure the loan with the existing borrower or continue with the foreclosure proceedings and acquire the asset at a significant discount to replacement cost,” says Lucent Capital Managing Director Shlomi Ronen.  “It is estimated that half of the $1.4 trillion of commercial real estate loans coming due in the next several years are underwater,” says  Ronen. “As a result, loan sales have been an increasingly popular method for banks to shed loans from their balance sheets and an attractive alternative for investors to purchase  properties outright. This note sale offers investors an opportunity to acquire a non-performing secured by a well located Class B asset at a significant discount to replacement cost. "The property is currently vacant and could provide an investor the opportunity to reposition the asset and benefit from the future upside associated with new leases.”
Lucent is soliciting non continent offers by September 15th.

A comprehensive array of due diligence data is available from Lucent Capital by accessing their website, www.lucentcapital.com
For information regarding Loan Sales, contact Shlomi Ronen, Managing Director, (310) 876-8455.

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Lucent Capital http://lucentcapital.com specializes in loan sales for performing and non-performing commercial and residential loan portfolios, equity and debt placement, and investment sales in the United States and Mexico. Lucent accesses traditional and non-traditional capital across the globe including foreign banks, family offices, private equity funds, pension funds, REITS, banks, and insurance companies critical to accomplishing your specific needs in today's highly complex and rapidly shifting capital markets environment.

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Location:California - United States
Industry:Finance, Real Estate, Banking
Tags:note sale, non performing loans, capital raising, debt, equity, commercial real estate, reits, real estate finance
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