Sabal Financial Buys $96M Portfolio from The Bank of the West

Sabal Financial Group, L.P., a diversified financial services company headquartered in Newport Beach, CA, announced this week that it had acquired a $96 million loan portfolio from The Bank of the West. Sabal, specializing in the acquisition of real estate loans with a focus on commercial real estate, has been acquiring portfolios since 2009, amassing nearly $4 billion in assets under management.

"The Bank of the West portfolio was appealing to us because of its land holdings. There are barriers to entry and a general lack of development space, resulting in a constrained land supply, which will have higher values as the real estate market continues to recover," said Pat Jackson, CEO of Sabal Financial Group. "We have the luxury of being patient in working out these assets."

Terms of the deal were not disclosed, but Sabal said that the portfolio is a combination of non-performing and performing loans and is secured by commercial real estate and land in California, Colorado, Arizona, Oklahoma, and Iowa.

For more news and information visit Blumberg Capital Partners.

Sabal Financial Buys $121.5M Loan Portfolio

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.

Sabal Acquires $385M Loan Portfolio

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."

For more news and information visit Blumberg Capital Partners.