FDIC Selects Colony Capital as Winning Bidder of $1.85 Billion in Commercial Loans

Working Cogsville involved partner in a new stock

Shut down Washington, DC (LoanSafe.org) - said the Federal Deposit Insurance Corporation (FDIC) to sell 40 percent of the equity interest in the limited liability company (LLC) that was created to hold assets with the balance of principal outstanding to 1.85 billion in the period from 22 failed bank receiverships. The winning bidder of complex transactions Multibank is the possession of Colony Capital, LLC, Los Angeles, California (settlement) with the rate of 59.00 percent, almost the unpaid principal balance. The team was Cogsville, LLC, New York, United States (Cogsville), and minority-owned investor and partner in the colony of young stock.

Equity participant, the FDIC maintains share of 60 percent in a company with limited liability, and to participate in returns on assets. Offered FDIC 01:01 influence, funding and agreed to ensure that money to buy coins issued by the company with limited liability in the original principal amount of 563 million dollars. Sale was conducted on a competitive basis, with the FDIC, a total of 6 offers from the bidders on the property 4 or borrow 40 percent or 20 percent unleveraged ownership in the newly formed company.

The FDIC and the reception for the banks did not transfer to a limited liability company to a group of distressed About 1660 commercial real estate loans, of which nearly 50 percent of the offenders. Collectively, and loans with an outstanding principal balance of 1.85 billion dollars. Is located Seventy-three percent of the security in the portfolio in Nevada, California, Colorado, Arizona and Georgia. As the owner of management company, property rights, and the colony management and services and the ultimate disposition of the assets LLC.

keywords:Cogsville Group, Colony Capital, COMMERCIAL MORTGAGE, Commercial Real Estate, failed bank receiverships