NEWPORT BEACH, CA, August 17, 2011
/24-7PressRelease/ --
Sabal Financial Group, L.P., formerly
Milestone Asset Resolution Company, LLC, a diversified financial services management firm, announces the recent acquisition of a $212 million portfolio from a major Midwest retail bank. The portfolio includes more than 100 loans, both performing and non-performing, and is primarily secured by retail, office and industrial properties, and land. A minority percentage of the loan pool consists of residential real estate loans. The portfolio is heavily concentrated in Wisconsin, Illinois and Florida and is representative of the increasing number of loan portfolios that banks are looking to offload in an effort to correct their balance sheets.
"We are currently responding to an influx of asset valuation assignments and loan portfolio acquisition opportunities," said R. Patterson ("Pat") Jackson, Chief Executive Officer of Sabal Financial Group. "This particular acquisition extends our presence in both the Midwest and Southeastern United States."
Sabal Financial Group is responsible for loan servicing and asset management of the portfolio. The company specializes in the acquisition and valuation of portfolios of real estate loans, with a concentration on commercial real estate ("CRE") loans and commercial and residential acquisition, development and construction ("ADC") loans. Sabal Financial Group is currently expanding its operating platform in response to an increase in asset valuation assignments and the growing market for the sale of performing and non-performing loan portfolios. The firm recently expanded its headquarters office in Newport Beach to accommodate its growth.
Sabal Financial Group is a leading provider of financial guidance to investment and commercial banks, including capital assessments based on portfolio and allowance for loan and lease loss ("ALLL") analysis, having performed more than 90 bank valuations over the past 24 months.
"Our team's expertise is significant in the real estate and banking sectors, representing full capabilities in all phases of the asset life cycle," added Jackson. "We are poised to handle a significant amount of the bank valuation work anticipated to continue for quite some time."
Sabal Financial Group will continue to increase its bank consulting business, an area where it has a commanding market presence in providing a broad spectrum of valuation, underwriting and asset management services. The company plans to substantially grow its assets under management and develop a nationwide lending operation to provide debt capital for commercial real estate and select commercial ADC projects.
About Sabal Financial Group
Sabal Financial Group, L.P. is a nationwide diversified financial services firm specializing in the acquisition, valuation, management and servicing of commercial real estate (CRE) and acquisition, development and construction (ADC) loans and mortgages. Sabal Financial Group provides credit advisory services and loan portfolio management and performance assessments for investment and commercial banks, including capital assessment based upon portfolio and ALLL analysis. Formerly Milestone Asset Resolution Company, Sabal Financial Group is a privately held company that has $2 billion under management and is led by a senior management team with extensive banking and real estate expertise in both the governmental and private business sectors. Sabal Financial Group is headquartered in Newport Beach, CA, with offices in Pasadena, CA, Chicago, Miami, Washington, DC, Greenville, SC and New York City.
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