News: Brokerage

Besen Special Assets residential desk trades $15 million UPB NPL Portfolio

Daniel Kole, managing director of the Residential (1-4 Family) Whole Loan Desk at Besen Special Assets, arranged the closing of a non-performing loan portfolio secured by notes across the tri-state area. The non-performing portfolio, secured by 49 residential assets located throughout New York, New Jersey and Connecticut, had an unpaid principal balance of $15 million with an average loan size of $306,000. "Besen is in the ideal position to sell residential loans on behalf of community banks in the secondary market, we have a strong understanding of the local New Jersey and New York markets, and New Jersey and New York have the highest share of residential mortgages that are seriously delinquent or in foreclosure," said Kole. Acting as the exclusive advisors to a New York community bank, the team at Besen Special Assets sourced and executed the trade using their proprietary competitive bid process and acquired the winning bid within two weeks, securing a New York-based private equity fund as the buyer.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,