The Real Deal Miami

Southwest Florida loan portfolio hits market

November 18, 2009 11:35AM

Oklahoma City-based First Financial Network has offered up a portfolio of 60 loans worth $190 million for sale. Most are backed by real estate in southwest Florida, including Sarasota, Fort Myers, Cape Coral, Punta Gorda, Port Charlotte, Bonita Springs and Naples. The asset broker said the bank holding the loans isn’t in any trouble, but wants to reduce non-performing assets. The loans have been divided into 24 pools, and bids are being accepted until Dec. 9. Closing will take place on Dec. 18.