NEW YORK (Reuters) - A $740 million portfolio of conducting loans hold by unsuccessful German bank Eurohypo AG on U.S . properties has captivated more than 100 potential buyers, a few sources mentioned on Tuesday.
Bids is to portfolio, that includes high-profile properties in New York and other leading U.S. cities, were due by the finish of Tuesday.
Sources aware with the behest mentioned more than 100 parties have sealed confidentiality agreements and have received selling material.
Separately, selling is approaching to start this week on a $1.1 billion portfolio of conducting and non-performing loans from Capmark , a U.S. blurb actual estate lender that emerged from failure final year. The loan sales are segment of incomparable direction of lenders offloading assets.
Over the past year, investors have bid on hundreds of billions of dollars in loans from lenders who are perplexing to seaside up their change sheets and heed with new regulations.
Depending on their investment criteria, many investors, such as banks, have been shopping conducting loans. Meanwhile, in isolation equity companies have been probing for non-performing loans whose aloft chance can concede double-digit returns.
Many unsuccessful European banks have been taken over by their governments, marked down or wound down. Last year Allied Irish Banks Plc and Anglo Irish Bank Corp Ltd sole their immeasurable portfolios, inclusive billions of dollars value of loans on U.S. properties. Wells Fargo Co
The organisation of loans from Eurohypo includes a dozen particular properties together with groups of properties. They add offices, sell space, land, warehouses and apartments. Many are located in New York. Properties in Boston, Miami, Houston, Chicago and San Francisco moreover are included.
The loans are approaching to capture bids from Blackstone Group LP's
Representatives Blackstone and JPMorgan declined to comment. A deputy from Wells Fargo could not be reached for evident comment.
Jones Lang LaSalle Inc
Eurohypo was one of the many active lenders during the U.S. blurb actual estate bang of 2003 to 2007. However, final year it was take in by the state-backed lender Commerzbank AG
The Eurohypo sale includes comparison loans on a portfolio of skill owned by General Growth Properties Inc
Also in the portfolio is a e-mail of credit for $126.4 million, on New York by Gehry, a 76-story downtown Manhattan unit office building written by star designer Frank Gehry.
The portfolio moreover includes a $39.1 million subordinate loan on the sell portion of 15 Central Park West, one of the many prestigious condominium addresses in Manhattan. The sell tenants add Best Buy, Chase Bank and home products tradesman West Elm.
The portfolio originally enclosed segment of a comparison loan on the Chrysler Building, but that was removed, according to two people aware with the sale. It could not be gritty because Eurohypo's $125 million segment of the $420 million comparison loan on the iconic Manhattan office office building was removed. The loan carried a banking of 6.50 percent and matures in 2018, according to selling element performed by Reuters.
Interested parties might bid on the whole package, particular loans or segment of the portfolio, according to the selling material.
The Capmark loan sale is approaching to be comprised of about 65 loans sappy in about two years and are a combination of conducting and nonperforming. Eastdil Secured, a section of Wells Fargo, is selling the portfolio.
(Reporting By Ilaina Jonas; Editing by Tim Dobbyn)