Mission Capital Advisors, a subsidiary of Marcus & Millichap Capital Corporation, is a leading loan sale advisor and due diligence provider. Mission Capital utilizes an integrated platform to manage single asset and loan portfolio trading, valuation, transaction management, and data/document curative services for both the commercial and residential real estate loan markets. Mission Capital represents domestic and foreign banks, credit unions, debt and equity funds, government agencies, special servicers, institutional investors, and other holders of loans.
 
 
*Includes Multifamily/Retail & Office/Retail Mixed‐Use

MOST RECENT CLOSINGS

 

MULTIFAMILY & OFFICE

NY/NJ Loan Portfolio

$36.8MM

Unpaid Principal Balance

Performing

Regional Bank

HOSPITALITY

NY/CA/WA Loan Portfolio

$105.7MM

Unpaid Principal Balance

Performing

Regional Bank

WHOLE LOAN TRADING ACTIVITY

 
Strengthening bank balance sheets, due to a somewhat unexpected recovery in the investment sales market, have provided financial latitude for banks to accept discounts on the limited remaining problem hot spots, such as legacy hospitality, retail and senior care loans.

The demand for seasoned performing loans of all types increased due to excess liquidity and deposits, in addition to unspent and unforgiven PPP funds.

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ADDITIONAL WHOLE LOAN TRADING CATALYSTS

AND OBSERVATIONS FOR 2021

 
In 3Q 2020 and 4Q 2020, banks invested substantial time and resources to evaluate troubled loans in order to identify and separate long-term credit and collateral issue loans from recovering and borrower supported loan relationships. The expectation is that the longer-term collateral and credit issue loans will most likely be offered in the secondary market in 2021, while brisk resolution activity will reduce this exposure.

Bank analysts note that Section 4013 of the CARES Act entitled “Temporary Relief from Troubled Debt Restructurings” has provided wide latitude to banks in avoiding migration of Substandard or Special Mention loans to TDR (Troubled Debt Restructuring) status based on deferrals or forbearances.

Mission Capital continues to monitor secondary market transactions, as well as industry sources, for insight into the effect the regulations will have on the value of collateral and loans long term.