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Press Releases DEBTX TO SELL $105.5 MILLION PORTFOLIOCommercial And Residential Real Estate Loans To Be Sold March 22, 2010 BOSTON, March 01, 2010 DebtX, the largest marketplace for loans, today announced that it will sell $105.5 million in primarily non-performing loans for a regional bank in the western United States. The portfolio is comprised of 71 loans and 33 relationships. The collateral includes commercial and residential properties located primarily in California, Washington, Oregon and Arizona. The three largest loans in the pool have a combined principal balance of $47.6 million. Bids are due by 2 p.m. Eastern time on Monday, March 22, 2010. Due diligence materials are now available at www.debtx.com. “Over the past six months, the number of bids per offering at DebtX has increased an average of 25% due to heightened demand for performing and non-performing loans,” said DebtX CEO Kingsley Greenland. “A growing number of equity buyers are seeking to re-enter the commercial real estate market by purchasing loans because many distressed properties are in default or are unable to service their debt. Buying the loan is a very effective way to again own commercial real estate.” Qualified investors interested in the portfolio can contact Brooke Foley at 617.531.3416 or Mike Roth at 617.531.3424. About DebtX Media Contact: Greg Berardi, Blue Marlin Partners, 415-239-7826, greg@bluemarlinpartners.com |