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09 Aug 10 Ladera Ranch Real Estate Co Buys Loan Portfolio

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Ladera Ranch is beautiful planned community in South Orange County that has been devastated by short sales and home foreclosures.  Ladera Ranch short sales remain at the higher end of the spectrum of the county with an increased number of REO , short sales and foreclosures per 1,000 houses.  South Orange County short sales continue to be a problem for banks that own a high volume of loan portfolios in the region.

Armed with at least $100 million to spend in 2010, Ladera Ranch, Calif.-based G8 Capital has acquired a 19-property loan portfolio of multifamily housing in South Florida. The all-cash transaction closed in less than two weeks for a portfolio of 13 performing loans and six non-performing mortgage notes.  The company’s approach with non-performing home loans and underwater performing loans is to work closely with the borrower to assess their situation and identify their interests.  

G8 provides loan workout solutions that may include a short sale, obtaining a deed in lieu of foreclosure or a loan modification. Should G8 Capital become the owner of the home through a foreclosure or negotiated workout, its team makes necessary physical improvements and brings in local property management to stabilize the asset.

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