$51 Million Loan Pool of Newly Originated Multi-family Loans

This pool was originated by the Seller, a bank, through an “on-market” competitive bid process.

Summary
Source ……………………………………………………………………………………… Existing Client
On / Off Market …………………………………………………………………………….. On Market
Transaction Date …………………………………………………………………………….. Dec 2011
Pool Description ……………………………………………………….. $51 Million Multi-family
Location ………………………………………………………………………………………. National US
Purchase Price ………………………………………………………………………………….. 103.30%
Wt. Avg. Coupon (WAC) ………………………………………………………………………. 5.336%
Wt. Avg. Maturity (WAM) ……………………………………………………………………. 9.26 yrs

  • Seller originally planned to put the loans into a Delegated Underwriting and Services (DUS) aggregator;
  • The bank’s relationship with the aggregator failed, causing the pool to be available;
  • Seller required a year-end close, Elk Rock Capital had 26 calendar days to underwrite and close the transaction;

Elk Rock Value-Add: Best Price Execution and a Quick Close