Sabal Financial Group, a financial services firm formerly named Milestone Asset Resolution Co., announced this week that it had acquired a $212 portfolio from an unnamed major Midwest retail bank. While details of the purchase were not disclosed, Sabal stated that the portfolio included over 100 loans, both performing and non-performing, and was primarily secured by retail, office and industrial properties, and land with major concentrations in in Wisconsin, Illinois and Florida.
"We are currently responding to an influx of asset valuation assignments and loan portfolio acquisition opportunities," said R. Patterson ("Pat") Jackson, Chief Executive Officer of Sabal Financial Group. "This particular acquisition extends our presence in both the Midwest and Southeastern United States."
Sabal Financial is responsible for loan servicing and asset management of the portfolio according to a GlobeSt.com article. Along with the portfolio acquisition, Sabal has added commercial real estate veteran Kevin McKenzie as a portfolio manager for the company's growing commercial real estate portfolio.
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment