A consortium led by Hudson Realty Capital LLC (HRC), a Manhattan-based real estate fund manager, has won the FDIC Small Investor Program (SIP) RADC structured-sale. The group acquired a $139 million Colorado portfolio of 97 acquisition, development and construction (ADC) loans in partnership with the Federal Deposit Insurance Corp. (FDIC). HRC is partnering with Soundview Real Estate Partners and JCR Capital Investment Corp. in the joint acquisition.
The Colorado portfolio is Hudson's second FDIC-structured sale acquisition. The company, along with Soundview, also closed on the FDIC's southeastern pool of 109 commercial real estate assets acquired last December. The certified Minority-Owned Business Enterprise (MBE) was awarded the latest loan pool as part of the SIP, designed to attract emerging firms.
"Hudson commends the FDIC on their Small Investor Program and their efforts to offer smaller loan pools to increase the diversity of bidders," said David Loo, Hudson's managing director and co-founder.
As the asset manager for the newly acquired portfolio, Hudson will work to resolve the residential and commercial property ADC loans over the next several years. The assets include vacant land, lots, residential development inventory and multi-family and mixed-use properties located throughout Colorado.
According to Renee Lewis, managing director, portfolio investments, Hudson expects to achieve the highest asset value over the hold period through workouts, restructurings, discounted payoffs, foreclosures, repositioning and sales.
"The addition of the Colorado loan portfolio, along with the Southeastern pool, demonstrates the rapid expansion of Hudson's portfolio investment platform, where we expect to see even more opportunities in the near future," said Lewis.
Headquartered in New York City, HRC maintains regional offices in Portland, Maine and Fort Myers, Florida, which oversees Hudson's portfolio investments. The real estate fund manager has closed more than $3.5 billion in transactions since the formation of its initial two funds in 2003 and currently has more than $2.5 billion in assets under management.

Hudson's activities include originating, participating in, servicing, restructuring and/or acquiring high-yield, special-situation debt and mezzanine loans. The company also invests directly in real estate and the acquisition of under-performing real estate assets and other real estate-related instruments.

Established as a Minority-Owned Business Enterprise (MBE), Hudson is certified by the Empire State Development Agency (ESDA). The company is widely acknowledged for its commitment to diversity and has been named among the New York Area's largest privately held companies and largest minority-owned companies, as well as one of the Top 25 lenders nationally.

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