Colony's $800M FDIC Loan Buy Fueling Argent Partnership
Posted February 3, 2011
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WASHINGTON, D.C. - Argent Management LLC and Colony Capital LLC are partnering on the acquisition and management of an $800 million portfolio of land assets that were recently acquired from the FDIC.
The California-based partnership previously had a $400 million portfolio under its watch, with the expansion pushing the grand total to $1.2 billion of assets. Colony Capital is leading the consortium of investors that purchased the FDIC offering of loans secured by residential and commercial land assets in at least 18 states, including Florida, Michigan and Utah. The properties were seized by the FDIC from failed banks.
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