The Note House announces the purchase of a new million dollar defaulted multifamily loan in South Florida market
Tuesday, March 5, 2013 | 0 Comments
CLEARWATER, FLORIDA (March 5, 2013) — Building on its continued success in the non-performing defaulted loan market and the purchase of REO pools nationwide, The Note House announces the purchase of a new million dollar defaulted multifamily loan in South Florida market.
President and founder of The Note House Fabian Calvo explained that the firm recently bought a distressed non performing multifamily mortgage note from an undisclosed multibillion dollar global financial institution. The transaction closed in January, 2013. The collateral consisted of an 18 unit apartment complex in the city of North Miami, Florida.
“The Note House has been able to continue to take advantage of the non performing mortgage note market as well as strengthen our relationships with our trading partners across the globe. Our investors are very happy with the 12% plus returns we continue to offer on deals just like these,” said Calvo.
Calvo added, “We continue to grow rapidly and attract investment capital from around the world. Our in house economic forecasting predicts a continued opportunity in the distressed discounted residential and commercial notes asset class for years to come. This is an excellent time for investors to invest in an asset class where you can buy at a significant discount and have real collateral backing your investments. Unless someone is trading stock options, I can’t think of another asset class with yields in the double digits in just a few months”.
The Note House also announced it is currently contracting another ten million in defaulted and performing multifamily notes in Florida and California for scheduled closings in April.
The Note House LLC is a premiere nationally recognized purchaser of commercial and residential mortgage notes and REOs. Dedicated to simplifying the process of complex real estate transactions, The Note House team relies on in-depth market research and its combined experiences to ensure that each transaction is streamlined resulting in a win-win for all parties involved. For more information, visit: www.thenotehouse.us