KDX Ventures, a joint venture between DebtX and KEMA Advisors, will sell $234 million in multifamily and healthcare loans for the U.S. Department of Housing and Urban Development(HUD).
The portfolio comprises 18 multifamily commercial real estate loans and three healthcare
loans, ranging in size from $1 million to $44.3 million.
The collateral is located in Arizona, Connecticut, Washington D.C., Florida, Kentucky, Michigan, Minnesota, North Carolina, Ohio and Rhode Island.
“This is another HUD portfolio that will appeal to both national and regional buyers,” said DebtX CEO Kingsley Greenland. “Because of HUD’s outstanding reputation, we again expect very active bidding.”
In April, KDX Ventures auctioned $306 million in nonperforming multifamily and healthcare loans for the HUD. The 12 winning bids generated proceeds of over 48% of unpaid principal. Sixty-seven bidders submitted over 200 individual and pool bids for the 26 loans that were offered.
Investors can bid on individual loans or on pre-determined loan pools. Bids will be accepted at www.debtx.com until 1PM Eastern time on Sept. 9. Due diligence materials and a list of loans for sale are now available at DebtX’s Web site.
KDX Ventures is a joint venture between loan marketplace DebtX Advisors and boutique investment banking firm KEMA Advisors.