NEW YORKâ€”Avison Young recently completed three loan transactions from its New York City office.
â€˘ The sale of a nine-asset portfolio located throughout New England on behalf of a Boston-based real estate investment firm. The assets included one real-estate-owned (REO) site, one non-performing loan and seven performing loans. The collateral consisted of a mix of multifamily, office and retail properties.
â€˘ The sale of a first mortgage collateralized by a 76,168-sq.-ft. multi-tenant retail property located in Rancho Mirage, Calif. At the time of transfer, the propertyâ€™s occupancy was 91 percent. On behalf of a Midwest-based commercial lender, Avison Young successfully negotiated the transfer of the loan to a Boston-based bank.
â€˘ The sale of a first mortgage collateralized by a multifamily property in San Jose, Calif. Working on behalf of client First National Bank of America in East Lansing, Mich., Avison Young negotiated the transfer of the loan to Provident Bank, located in Riverside, Calif.
Avison Youngâ€™s Justin Plasecki, principal, and Aaron Iskowitz, vice president, completed all of the sales transactions listed.