CWCapital Asset Management (CWCAM), a subsidiary of Bethesda, MD-based CW Financial Services, announced today that it's marketing a $2.12 billion portfolio of real estate and commercial mortgage loan assets in its capacity as special servicer. The portfolio covers properties throughout the country, many in major markets such as New York City, Atlanta, Las Vegas, Los Angeles/Orange County, Houston and Phoenix with the balance located in secondary and tertiary markets. The assets securing the portfolio total nearly 4.7 million square feet of office space, 3.5 million square feet of retail, 1.1 million square feet of industrial plus 4,700 multifamily units and 2,100 hotel rooms; the remainder of the portfolio consists of mixed-use, hospitality and industrial assets.
According to a press release from CWCAM, brokerage firms including CBRE, Eastdil Secured, Newmark Grubb Knight Frank, Mission Capital, and Marcus & Millichap, are overseeing the marketing of 20 assets with an unpaid principal balance of $1.38 billion. Additionally, 71 assets with an unpaid balance of approximately $740 million are currently being marketed via Auction.com.
In October 2013 when CWCAM marketed a portfolio of 134 assets with a unpaid principal balance of $3.43 billion, the vast majority of the assets eventually closed with overall recoveries averaging $0.66 on the dollar of the unpaid principal balance, according to a GlobeSt.com article.
For more news and information visit Blumberg Partners.
No comments:
Post a Comment