Multi-Housing

$94.3 Million Performing Loan Portfolio

ABC Various, Texas United States
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NOI Net Operating Income N/A
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Asking Price Contact for pricing
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NOI Net Operating Income N/A
Cap Rate N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Property Description

Jones Lang LaSalle (“JLL”) has been retained by the Seller on an exclusive basis to arrange the sale of a $94.3 million performing loan portfolio (the “Loans” or “Portfolio”). The Portfolio includes six (6) first lien mortgages and deeds of trust collateralized by Office (56.5% of UPB), Multifamily (28.7%), and Retail (14.9%) properties located in five (5) central, western, and northeastern states. The Portfolio is comprised of 100% floating-rate Loans which carry a W.A. margin of 3.82% over 30D LIBOR, subject to a W.A. LIBOR floor of 1.28%. Loan metrics for the portfolio include a W.A. DSCR of 1.44x, a W.A. DY of 7.93%, and a W.A. as-is LTV of 71% based on appraised values. The offering provides investors the opportunity to acquire a sizable Portfolio of diverse loans by property type, location, and unpaid principal balance. The Seller will consider bids for (i) any individual Loan, (ii) any combination of Loans, or (iii) the Portfolio in its entirety.

Investment Highlights

  • LIBOR FLOORS: Each Loan is structured with a LIBOR floor. Portfolio includes a weighted average LIBOR floor of 1.28%, with the potential for additional interest over the term of the loans (based on the LIBOR Forward Curve).
  • YIELD PROTECTION: Five (5) of the six (6) Loans are structured with an exit fee between 0.25% and 0.75% of their unpaid principal balance in addition to varying degrees of call protection.
  • DESIRABLE ASSET CLASS: 85.1% of the Portfolio is secured by Multifamily and Office assets with only 14.9% consisting of Retail assets present in the Portfolio.
  • PERFORMING WITH GOOD IN-PLACE METRICS: Loans are current and in good-standing, as proven by their payment history and W.A loan metrics that include a W.A DSCR of 1.44x and a W.A. debt yield of 7.9%.
  • CRITICAL MASS: The Portfolio provides the unique opportunity for investor(s) to acquire a set of performing loans associated with strong sponsorship and high-quality real estate. The Portfolio’s varying asset locations and product types create an attractive, risk-diverse pool for investors.
  • DIRECT SALE FROM ORIGINATING LENDER: This sale provides investors with a unique opportunity to acquire a performing loan portfolio directly from an institution who has held the Loans since origination.
Last Updated Date: 02 Feb 2021
Sean Ryan
Sean Ryan
Managing Director, Capital Markets
Chris Comerford
Chris Comerford
Associate

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Last Updated Date: 02 Feb 2021

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