Tuesday, April 24, 2012

CWCapital Selling $345 Million of Distressed Real Estate Debt

Net Lease Market News CWCapital Asset Management LLC, a firm specializing in troubled commercial mortgages, is marketing $345 million of distressed debt in its biggest sale ever as investors circle souring loans. CWCapital, the second-largest servicer charged with resolving problem real estate contained in securities, is selling a portfolio linked to properties spanning the U.S. from Brooklyn, New York to Pasadena, California, according to Mission Capital Advisors, the manager of the sale. Retail buildings account for the largest share of the pool, comprising 36.3 percent, followed by office buildings at 28.2 percent, according to Mission. http://www.bloomberg.com

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