UNUSUALLY UNCERTAIN U.S. Economy Should Stimulate More Loan Sales
August 11, 2010
Last week, Federal Reserve chairman, Ben Bernanke called the U.S. economic outlook “UNUSUALLY UNCERTAIN”…
This UNCERTAINTY should to be a reminder to all holders of toxic and nonstrategic loan assets that there is no upside in “holding on” to these assets; particularly while many investors are still flush with cash, and eager to acquire distressed loan and REO assets.
Notwithstanding, the present economic situation, many local and regional investors have teamed with private equity and other investment firms to acquire loan assets. These investors possess excellent liquidity, and through the Carlton Exchange, we can assist you in quickly moving non-strategic loan and REO assets.
As I suspect you know, Carlton is one of the top loan sale advisors in the country, possessing an investor database in excess of 100,000 potential purchasers. We have evolved marketing and sales strategies, as a product of Carlton being in the accelerated sales business since 1991 (when our company was called “Carlton Property Auctions”).
We have a national network of showing brokers and other affiliates who, along with us, reach deep into the respective markets where your asset is being sold in order to access local and regional investors.
We would be pleased to underwrite and value any loan and/or REO assets you are considering selling, and can devise the best strategy to execute either a bulk sale. or an asset-by-asset loan and/or REO sale. On bulk sales, we execute same on a negotiated basis, and do not list such assets on CEX. However, for individual sales, where maximizing recovery is paramount, we find that the most effective way to do that is by reaching out to local and regional investors through our rolling CEX Loan MLS Bid Process (www.carltonexchange.com).
Our CEX Loan MLS Bid Process has resulted in approximately one billion dollars of asset sales in 2010 alone. CEX Loan MLS is an auction hybrid loan sale process, where loan and REO assets are listed on Carlton’s proprietary password-protected loan trading website, on a First-Come-First-Serve BID NOW basis. The CEX MLS is a seller-advantaged process, which connotes a “positive psychology,” and allows you to accept or counter a bid as you deem appropriate. Unlike auctions, which typically signal a distressed or “fire sale” connotation, CEX will help you get the best price through a competitive process that encourages urgency and emotional bidding to drive prices higher. Furthermore, similar to a conventional listing, CEX will negotiate bids on your behalf, until you either accept or counter prequalified bidders.
I appreciate you taking the time to review this letter, and I hope that we can meet to discuss how Carlton and you can work closer together.
Thank you,
Howard L. Michaels
Chairman
Carlton Advisory Services, Inc.
560 Lexington Avenue – 10th Floor
New York, NY 10022
(212) 545-1000 office
(212) 867-1305 fax
Email: howardmichaels@carltongroup.local
Website: www.carltongroup.local
Carlton Exchange: www.carltonexchange.com
IMPORTANT NOTICE: The accompanying transmission is a privileged and confidential communication, and is intended to be viewed and read only by the intended recipient. If you are not the intended recipient or its authorized agent, you are prohibited from reading this transmission, and the dissemination, distribution, or copying of this transmission to or by person[s] other than the intended recipient is prohibited. If you have received this communication in error, please notify us immediately by telephone and destroy the original transmission. Thank you.
