January 6, 2020
JLL Capital Markets sold a performing loan portfolio for Macquarie Private Debt, a division of Macquarie Asset Management. The undisclosed buyer paid approximately $150 million for the portfolio.
The portfolio includes 11 floating-rate, first mortgage loans with a weighted-average spread of 3.83% over 30-day LIBOR. The loans are collateralized by several preferred property types that include multifamily, self-storage and office, and are located across the United States.
New York-based Stephen Van Leer and Sean Ryan of JLL handled the sale for Macquarie. “The portfolio provided the unique opportunity for the buyer to acquire a set of performing, light-transitional loans associated with strong sponsorship and high-quality real estate,” said Van Leer.
“We view this sale as a great example of how some bridge lenders have opted to do a loan sale rather than a CLO execution,” Ryan added. “The entire process totaled 10 weeks and yielded the seller premium-to-par pricing.”
Pictured: Macquarie offices at 125 W. 55th St. in Midtown Manhattan.
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