HARRISON, NEW YORK / ACCESS Newswire / February 7, 2025 / Garnet Capital Advisors, a leader in the national loan sale market, is pleased to announce the closing of the sale of a credit facility collateralized by a $117 million subprime lease portfolio on behalf of the co-lenders, who are leading institutions in the industry. The sale was prompted by the bankruptcy filing of the originator and initial servicer. The collateral portfolio was comprised of both current and delinquent accounts.
Offering the facility servicing-retained gave buyers the option of leaving the accounts with the replacement servicer. Selling the credit facility as opposed to the underlying lease portfolio minimized the administrative burden and led to a more expeditious closing.
These factors combined to maximize buyer participation in the offering with dozens of buyers registered for the sale, resulting in a successful outcome for the sellers.
Andrew Stumm, Managing Director at Garnet Capital, stated: "Garnet has unparalleled expertise in managing loan sales involving bankruptcies, trustee sales and portfolio liquidations, having closed dozens of transactions for billions of dollars in UPB. As a result, we know the market for these assets and how to structure sales to maximize value."
About Garnet Capital Advisors
Garnet Capital Advisors is a leading broker of loan portfolios for banks, credit unions, hedge funds, and specialty finance companies. With over 20 years of expertise in performing, subperforming, and charged-off loans in the consumer, commercial, and residential sectors, Garnet Capital is dedicated to bringing honesty, integrity and focus to every deal, offering best-in-class services to their clients in a rapidly changing financial landscape.
Garnet Capital Advisors is also committed to maintaining the highest standards of data security and compliance, ensuring that clients can trust their expertise and guidance throughout the entire loan portfolio transaction process.
Contact Garnet Capital
Financial institutions interested in learning more about Garnet Capital's services are encouraged to contact Sherri Feldman at 914-630-8838 or sfeldman@garnetcapital.com.
https://www.garnetcapital.com/
Contact Information
Sherri Feldman
Sales & Marketing Director
sfeldman@garnetcapital.com
914-909-1000
SOURCE: Garnet Capital Advisors
