A financial institution has retained Ariel Property Advisors to sell its financial lien positions for nine investment properties in Manhattan, Brooklyn, the Bronx, and Long Island.
The portfolio of performing and non-performing notes includes multifamily, mixed-use, and retail properties, which are being offered individually or as a package. The total principal balance of the portfolio is just under $9 Million.
“This offering is very unique compared to other more distressed note sale packages in that it offers excellent in-place returns on strong collateralized assets,” said Victor Sozio, vice president at Ariel Property Advisors.
According to the broker, investors will be able to learn of the specific asset locations after executing a confidentiality agreement, but once that is done, they can review comprehensive due diligence materials through the company’s streamlined document viewing systems.
The assets include a four-story mixed use property on the Upper West Side; a three-story, walk-up in Sunset Park, Brooklyn; An eight-unit property in the East Tremont section of The Bronx; a Fordham single story property with seven retail units and; a two story retail building ont eh South Shore of Long Island.
Sozio is working on this assignment together with Shimon Shkury, Michael A. Tortorici, Jonathan Berman, and Scot Hirschfield.