NEWPORT BEACH, Calif.--(Sabal Financial Group, L.P., a diversified financial services management firm, announces the recent acquisition of a $385 million portfolio of performing and non-performing loans. Consisting mainly of commercial and residential acquisition, development and construction loans (“ADC”), the acquisition is part of the ongoing Structured Sales Program with the FDIC. The 507-loan portfolio sale was mandated by the FDIC for the assets of 42 recently failed banking institutions throughout the United States.)--
“Sabal is uniquely qualified to oversee the management and work out of small balance distressed assets of this type with a model that is scalable to handle portfolios of this magnitude.”
“This is our third FDIC transaction and it brings our total number of assets under management to approximately $3 billion,” said R. Patterson (“Pat”) Jackson, Chief Executive Officer of Sabal Financial Group. “Sabal is uniquely qualified to oversee the management and work out of small balance distressed assets of this type with a model that is scalable to handle portfolios of this magnitude.”
The acquired portfolio is secured by properties across the United States – primarily undeveloped land – with the largest concentration in the southeast and Midwest. The acquisition represents the steady flow of loan portfolios being sold by both failed banks and those banks seeking to shed assets as they work to improve their balance sheets. Sabal Financial Group will provide loan servicing and asset management for the portfolio.
Sabal Financial Group 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. The company has a commanding market presence providing 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.
“The number of credit advisory assignments and loan portfolio acquisition opportunities with banks has not waned, nor do we expect it to for some time.” said Jackson.
Sabal Financial Group is rapidly expanding its operating platform in response to the growing market for the sale of performing and non-performing loan portfolios and this increase in asset valuation assignments. Sabal Financial Group 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 with nearly $3 billion under management and is led by a senior management team with extensive banking and real estate expertise in both the government 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