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Thursday, 13 September 2018

Varde Offers $200.7Mln Portfolio of Mixed-Quality Loans

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Varde Partners has put a portfolio of $200.7 million of mortgages on the sales market through HFF.

The Minneapolis investment manager, a long-time investor in distressed, subperforming and nonperforming loans, often has tapped the secondary market to sell loans that have gone through its workout processes. Last November, for instance, it offered a $79.4 million portfolio, also through HFF.

The latest portfolio has been separated into pools designed to cater to specific investor interests. HFF will entertain offers for the portfolio in its entirety, individual pools or loans.

The largest pool has 89 small-balance loans that are performing, have a balance of $58.5 million and weighted average coupon of 5.85 percent.

Next up is a pool of 10 large-balance loans totaling $43.2 million. Those have a coupon of 5.29 percent.

The portfolio also includes a pool of 23 loans with a balance of $28.4 million that matured recently or come due soon and pay a coupon of 6.16 percent, along with a pool of 22 loans with a balance of $24.1 million that are classified as being subperforming or nonperforming.

The remaining five loans, with a combined balance of $46.5 million, are being offered individually.

Brock Cannon, the HFF managing director whose team is handling the sale, said the portfolio's diversity "provides investors with a great opportunity to acquire loans in different performance levels, ranging from well-performing loans to value-add opportunities."

Comments? E-mail Orest Mandzy, or call him at (267) 327-4281.


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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Loan Offerings (LOAN)
  • Company: Holliday Fenoglio Fowler LP
  • Valuation: More than $150 million
  • Private: No
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Data Digest







Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44




cppichart FP



CMBS 2.0 Spreads


Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41





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