Sabal Financial Group, LP, a CA-based financial services management firm, announced this week that it had acquired a $121.5 million portfolio from a southeast-based regional bank. The portfolio of 44 performing and non-performing commercial real estate loans incorporate commercial real estate properties and land in Texas, Florida, North Carolina, South Carolina, Georgia, Virginia and Missouri. Sabal will provide loan servicing and asset management for the portfolio.
"There continues to be a significant need for banks to clear their balance sheets of problematic loans," said Pat Jackson, CEO of Sabal Financial Group. "This particular acquisition strengthens our already robust presence in the southeast region."
In June of this year, Sabal established a builder lending program to fill the void left by community banks exiting for-sale residential financing. Sabal Financial Group offers non-recourse acquisition and development (A&D) and construction loans for homebuilders in California, Seattle, and Portland.
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment