NEW YORK CITY—Hudson Realty Capital LLC, a real estate fund manager, reported strong growth in its loan servicing and asset management operations. Over the past 14 months, Hudson has closed on eight major, acquiring $500 million in portfolios of non-performing loans and real estate owned properties.
Among the recent acquisitions made by Hudson’s Fort Myers, FL,are a portfolio of more than 50 performing and non-performing loans purchased from a New England-based community bank; a $70 million acquisition of non-performing loans and REO assets from a Louisiana bank; and a $24 million portfolio of unpaid principal balance from a North Carolina bank.
The company’s recent acquisitions involved purchases of sub-performing assets from community banks after a merger or recapitalization, as well as institutions that were seeking to improve their balance sheets. In addition, each portfolio involved less than $100 million in unpaid principal balance and included small balance loans.