NEWPORT BEACH, Calif.--(Sabal Financial Group, L.P., a diversified financial services management firm formerly known as Milestone Asset Resolution Company, LLC, announces the recent acquisition of a $153 million portfolio from a major Midwest retail bank. The portfolio includes more than 100 loans, both performing and non-performing, and is primarily secured by retail, office and industrial properties, and land. The portfolio includes a number of distressed loans located in Illinois, Wisconsin, Arizona and Florida, and represents the immense number of distressed loans currently plaguing banks and the real estate industry recovery at-large.)--
“The need for banks to clear their balance sheets of problematic loans remains strong and this latest portfolio acquisition is representative of our ability to assist.”
“Our business continues to grow at a rapid pace,” noted R. Patterson (“Pat”) Jackson, Chief Executive Officer of Sabal Financial Group. “The need for banks to clear their balance sheets of problematic loans remains strong and this latest portfolio acquisition is representative of our ability to assist.”
Sabal Financial Group will provide loan servicing and asset management for the portfolio. The company specializes in the acquisition and valuation of portfolios of real estate loans, with a concentration on commercial real estate (“CRE”) loans and commercial and residential acquisition, development and construction (“ADC”) loans. Sabal Financial Group is currently expanding its operating platform in response to an increase in asset valuation assignments and the growing market for the sale of performing and non-performing loan portfolios. The firm recently expanded its headquarters office in Newport Beach to accommodate its growth.
Jackson attributes the company’s use of technology with their ability to handle a large number of distressed portfolios. “We invested heavily in technology from the start which has given our business operations the scalability needed to take on and successfully manage large portfolios, and continue to meet the continued flow of distressed loans we expect will continue into the foreseeable future,” said Jackson.
Sabal Financial Group is a leading provider of financial guidance to investment and commercial banks, including capital assessments based on portfolio and allowance for loan and lease loss (“ALLL”) analysis, having performed more than 100 bank valuations over the past 24 months.
“Our team’s real estate and banking expertise is significant and we are able to work out and enhance the value of these real estate assets more effectively than the banks which are confined by regulations,” added Jackson.
Sabal Financial Group continues to increase its bank consulting business, an area where it has a commanding market presence in providing a broad spectrum of valuation, underwriting and asset management services. The company plans to substantially grow its assets under management and develop a nationwide lending operation to provide debt capital for commercial real estate and select commercial ADC projects.
About Sabal Financial Group
Sabal Financial Group, L.P. is a nationwide diversified financial services firm specializing in the acquisition, valuation, management and servicing of commercial real estate (CRE) and acquisition, development and construction (ADC) loans and mortgages. Sabal Financial Group provides credit advisory services and loan portfolio management and performance assessments for investment and commercial banks, including capital assessment based upon portfolio and ALLL analysis. Formerly Milestone Asset Resolution Company, Sabal Financial Group is a privately held company that has approximately $3 billion under management and is led by a senior management team with extensive banking and real estate expertise in both the governmental and private business sectors. Sabal Financial Group is headquartered in Newport Beach, CA, with offices in Pasadena, CA, Chicago, Miami, Washington, DC, Greenville, SC and New York City. www.sabalfin.com.