108
NEW YORK CITY — Madison Realty Capital has purchased a single-borrower portfolio of six loans from a large commercial bank in an off-market transaction. The balance of the purchased loans, secured by multifamily and mixed-use properties owned by the same borrower, was approximately $18 million. “With significant changes in the bank regulatory environment, lenders continue to sell off non-performing and underperforming loans,” says Brian Shatz, co-founder and managing member of Madison Realty Capital. “Recently many of our bank counterparties have been looking to sell entire credits — in other words multiple loans with the same borrower — and this transaction is a prime example of the trend.”