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Jones Lang LaSalle ("JLL") has been retained on an exclusive basis by the Seller to arrange the sale of three non-performing commercial loans totaling $12.6mm in UPB (the "Loans" or "Loan Portfolio"). The Loan Portfolio consists of two relationships secured by first-lien mortgages on three retail properties in the surrounding Atlanta MSA (the "Properties" or "Collateral"). One of the loans became non-performing as a result of a monetary default while the other two are in maturity default.
Positioned in the greater Atlanta MSA, the Collateral is comprised of (i) one retail property that is currently 100% occupied by a gym tenant that was closed during the Covid-19 pandemic but has subsequently reopened and (ii) two adjacent newly constructed retail properties that combine for a current occupancy during lease up of 53%.
The offering presents investors the opportunity to acquire the non-performing loans on a portfolio or individual loan basis.
PATH TO TITLE: The defaulted Loan Portfolio provides investors with a unique opportunity to acquire non-performing loans with a path to title.
DESIRABLE BASIS: Investors have the potential to step into the ownership position on quality retail properties at a favorable basis.
VALUE ADD OPPORTUNITY: Investors are presented the opportunity to potentially create value in the lease-up of two newly constructed retail centers.
STRONG LOCATION: The Properties are situated in the surrounding Atlanta MSA, which boasts an optimistic outlook and inflow of capital as a result of strong demand generators and population growth.