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Opportunities Are Expanding For Selling Commercial Real Estate Notes
By Jim Gillespie | October 20, 2010
For approximately one year now I’ve been telling commercial brokers to consider selling notes held by lenders on commercial properties, along with selling and leasing properties as part of their own commercial brokerage businesses. This is becoming more relevant and important right now, as commercial lenders, who haven’t really been foreclosing much on their distressed properties, are getting inundated with even more distressed properties. And the idea of selling the notes on these properties, and relieving themselves of needing to take any further action on them, is becoming more appealing to them.
With this in mind, take a look at the following article featuring an interview with a former Managing Director of Jones Lang LaSalle. In this interview he discusses how commercial lenders have increased their activity level in selling their commercial notes, and how Jones Lang LaSalle has positioned itself to capitalize on these opportunities.
I know one broker personally who sold a portfolio of $200 million in mostly non-performing notes to an investor for $1.4 million, and then immediately flipped that portfolio to another investor for $2.8 million. So these opportunities are out there if you’re ready to go after them!
Click here to read the article.
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