Colony Capital, a real estate investment and advisory firm, is partnering with Argent Management LLC to acquire and manage a $800 million portfolio of real estate acquisition, development and construction (ADC) loans that Colony recently acquired from the Federal Deposit Insurance Corporation (FDIC).
Combined with another $400 million portfolio that Argent has already been working with Colony in managing, the combined book value of these portfolios represents $1.2 billion in assets. Argent Management is a provider of real estate services to institutional investors, private owners, developers and financial institutions.
Colony Capital is leading a consortium of investors that joined together to purchase this FDIC offering of loans secured by land assets throughout the U.S. The FDIC seized these loans from failed banks, and these assets include numerous residential and commercial developments that are located in Florida, Michigan, Utah and more than 15 other states.
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