NEW YORK—Madison Realty Capital has closed six note purchase transactions, including its purchases of three non-performing loan portfolios and three defaulted notes. All the loans are secured by properties located in New York City and total $26.6 million in principal balance.
The purchase prices were not disclosed.
Loan purchases include:
• A JP Morgan Chase loan portfolio consisting of 10 defaulted first mortgage loans. Collateralized by six multifamily and four mixed-use properties located throughout Brooklyn, Queens and the Bronx, the principal balance is $9.6 million.
• A Capital One portfolio consisting of two defaulted first mortgage notes. Collateralized by a multifamily property and a mixed-use property located in Brooklyn, the principal balance is $6.55 million.
• A community bank portfolio consisting of two defaulted first mortgage notes, collateralized by a multifamily property and a mixed-use property located in Manhattan and Brooklyn. Principal balance is $4.11 million.
• A defaulted first mortgage note from United International Bank, collateralized by a retail center located in the Saint George neighborhood of Staten Island. The principal balance is $2.9 million.
• A defaulted first mortgage note from Intervest National Bank collateralized by three industrial properties located in the Bushwick neighborhood of Brooklyn. The principal balance is $2 million.
• A non-performing senior note from an undisclosed fund collateralized by a mixed-use property located in the Williamsburg neighborhood of Brooklyn with a principal balance of $1.5 million.