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KDX Ventures Sells $306 Million HUD Portfolio

Wednesday, May 12, 2010 General News J E 4
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Strong Demand Results In Winning Bids At 48% Of Unpaid Principal Balance

BOSTON, May 12 /PRNewswire/ -- KDX Ventures, a joint venture between DebtX and KEMA Advisors, successfully auctioned $306 million in non-performing multifamily and healthcare loans for the U.S. Department of Housing and Urban Development (HUD).

Sixty-seven bidders submitted more than 200 individual and pool bids for the 26 assets offered for sale in April.  The 12 winning bids generated proceeds of more than 48% of unpaid principal balance.  All winning bids were submitted on individual assets.

"The strong proceeds from this HUD sale demonstrate the pent-up demand and liquidity for commercial real estate assets," said DebtX CEO Kingsley Greenland.  "Over the past two years, investors have amassed a tremendous amount of capital to invest in commercial real estate loans, but there has been only a small amount of product available for sale."

KDX Ventures (KDX) is a partnership between DebtX, the largest marketplace for loans, and KEMA Advisors, a boutique investment banking firm. KDX Ventures is HUD's exclusive loan sale advisor.

About DebtX

DebtX is one of the world's leading full-service loan sale advisors for commercial, consumer and specialty finance debt. DebtX operates the world's largest and most liquid online marketplace for loans, with more than 300 selling institutions, including commercial banks, insurance companies, investment banks and government-sponsored enterprises. DebtX also offers DXMark®, the first objective valuation of commercial real estate portfolios based on actual secondary market loan sales. DXOpen® is a family of deal management products used by syndication and agency services professionals. DebtX is based in Boston, with U.S. offices in Atlanta, New York, and San Francisco, and European offices in London, Madrid and Frankfurt. For information, call 617.531.3400 or visit www.debtx.com.

About KEMA

KEMA is a boutique financial advisory firm that assists clients in the management and disposition of real estate loans, commercial loans and other corporate assets. KEMA is a minority-owned business, a U.S. Small Business Administration 8(a) certified firm, and a Historically Underutilized Business as certified by the North Carolina Department of Administration. KEMA is headquartered in Hillsborough, NC and maintains satellite offices in Washington, D.C. and New York. For more information, contact 202-775-0518 or visit www.kemaadvisors.com.

SOURCE KDX Ventures

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