Sabal Financial Group announced at the end of last month that it had acquired a $385 million portfolio of loans from the from the Federal Deposit Insurance Corp. (FDIC) according to a National Real Estate Investor article. The portfolio includes performing and non-performing loans, a sale mandated by the FDIC for the assets of 42 failed banking institutions. The portfolio is secured by properties across the United States with the largest concentration in the southeast and Midwest.
"This is our third FDIC transaction and it brings our total number of assets under management to approximately $3 billion," said R. Patterson Jackson, Chief Executive Officer of Sabal Financial Group. "Sabal is uniquely qualified to oversee the management and work out of small balance distressed assets of this type with a model that is scalable to handle portfolios of this magnitude."
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