Younan Properties announced today that they will be seeking to purchase commercial loans, similar to tenant loans, that they believe are underperforming. The company has a strategy to turn these properties around and get more out of the tenant loans within the near future.“The current instability in the debt markets and the inability of lenders to hold an underperforming loan while the property is stabilized provides and excellent opportunity for our company to acquire debt at discounted prices for key assets in major markets,” Younan Properties’ chairman Zaya Younan. “We intend to acquire debt instruments where we can actively assist in the management of the property. We believe commercial real estate has entered into a period where there will be fewer opportunities to acquire premium assets directly on acceptable terms.”Many companies are deciding to take a jump into the commercial loan and tenant loan markets to see if they can turn things around. Properties are generally much cheaper and banks are more than willing to get rid of tenant loans and commercial loans that are not performing well at the moment. Some companies have been able to scoop up deals at pennies on the dollar thanks to the current housing crisis.
Related reading: Tenent Loan
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