BankXchange to Sell Major Loan Pool; $148 Million Marks Largest Sale of Performing...

Mon Aug 18, 2008 8:39pm EDT

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BankXchange to Sell Major Loan Pool; $148 Million Marks Largest Sale of Performing Loans on West Coast Commercial Real Estate in 2008

SAN FRANCISCO--(Business Wire)--
Bridger Commercial Funding's BankXchange program announced today
that it has been retained on an exclusive basis by a major western
states bank to sell the largest pool of West Coast performing
commercial real estate loans to be brought to market this year. The
portfolio totals $148 million, consisting of 88 loans secured by
properties in the economically diverse Los Angeles Basin. It includes
owner-occupied loans financed under the SBA 504 program, and loans on
income properties.

"This portfolio is a must-see for any potential buyer seeking to
bolster their existing exposure to, or to gain immediate critical mass
to, the Los Angeles market, where economic conditions remain strong,"
said Bridger Senior Vice President and BankXchange Program Manager,
Paul O'Rear. "It's very rare for a portfolio of this size and caliber
to be offered for sale, plus it carries the added appeal of being
composed of assets located in and among the most dynamic and appealing
markets in the country. If a prospective bidder already has a Los
Angeles portfolio of loans, this pool gives them the opportunity to
instantly increase outstandings and market share with quality assets,
with economies of scale that derive from managing a larger portfolio
of assets in a single metropolitan area," O'Rear observed.

The portfolio consists of both owner-occupied and income-producing
real estate. The majority of the owner-occupied properties secure SBA
504 loans. The overall portfolio loan-to-value ratio is below 60%, and
the debt service coverage ratio exceeds 1.60. Most loans were
originated within the past two years and have five to seven year
maturities. The majority of loans carry fixed interest rates.

The portfolio is being offered in two pools, one comprised of the
owner-occupied loans and the other consisting of the income property
loans. Potential buyers can bid on either pool, or both, based on
their loan portfolio criteria, O'Rear noted. The pool of
owner-occupied loans totals $95 million, consisting of 58 loans. The
pool of investment property loans totals $53 million, consisting of 30
loans.

BankXchange will accept bids on a "subject to due diligence" basis
through Friday, August 29, 2008 at 5 PM Pacific Daylight Time.

Interested buyers seeking detailed information on this portfolio
should contact BankXchange Vice President Michael Malekos at (415)
289-3227, mmalekos@bridgerfunding.com; or Senior Vice President and
BankXchange Program Manager Paul O'Rear at (415) 289-3239,
porear@bridgerfunding.com.

Bridger Commercial Funding offers an array of commercial real
estate funding options that help banks generate fee income, enhance
borrower relationships, and optimize commercial real estate portfolio
risk/return profiles. The company also acts as an advisor for loan
trading through BankXchange - the banking industry's leading
commercial real estate loan sale advisory service.

Bridger Commercial Funding
Mike Malekos, Vice President, 415-289-3227
Fax: 415-331-3390
www.bridgerfunding.com