OKLAHOMA CITY, Sept. 21, 2015 /PRNewswire/ — First Financial Network, Inc., the nation's leading loan sale advisor, announced the offering of $60 million in commercial real estate and unsecured loans on behalf of a lender.
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The loans are being offered in three separate pools based on performance, collateral type and geographic location. The portfolio contains 90 loans and 67% of the loans are classified as performing. Collateral properties are located in 22 states with concentrations in in CA (36%) and MN (17%). The loans are secured by various property types including industrial, office, hospitality, recreational, retail, medical and land. Weighted Average Coupon of the portfolio is 5.71%.
Due diligence materials are available now to qualified bidders at www.ffncorp.com and bids are due on October 14, 2015.
According to Bliss Morris, CEO of First Financial Network, "Given the strong market demand for all product types, we expect active bidding for this commercial portfolio. The mixed performance of the loans will result in interest from a wide variety of investors."
For additional details regarding the offering, please call 405.748.4100 or visit www.ffncorp.com.
About First Financial Network
Since its founding in 1989, FFN has defined the loan sale industry, selling billions of dollars in loans and other assets in 28 countries. The company provides loan valuation, compliance reviews and due diligence services to banks, agencies of the Federal government, major foreign banks and other lenders. The company's online Loan Sale Network™ platform is used in conjunction with exceptional marketing techniques to achieve optimal value in today's loan sale market. For further information, call 405.748.4100 or visit www.ffncorp.com.
Contact:
Merrie Duncan: 405-748-4100 or Email