Five Borough Loan Portfolio Purchase – Debt Acquisition
Hirshmark Capital is proud to announce the purchase of a package of five non-performing loans with a current unpaid balance of $4.1MM from a local lending institution. The portfolio included a commercial building containing 1 retail unit, a mixed-use building containing 3 residential units and 2 commercial units and 3 residential buildings containing 22 apartments. The properties are located throughout Brooklyn, Queens and the Bronx. Hirshmark Capital aggressively bid for the loans and was able to ensure that the lending institution had a dependable buyer that could easily close before the end of the year.