NEWPORT BEACH, CA--(Marketwire - Aug 21, 2012) - Sabal Financial Group, L.P., a diversified financial services company, announced the recent purchase of a $96 million loan portfolio from The Bank of the West. The portfolio is a combination of non-performing and performing loans and is secured by commercial real estate and land in California, Colorado, Arizona, Oklahoma, and Iowa.
"The Bank of the West portfolio was appealing to us because of its land holdings. There are barriers to entry and a general lack of development space, resulting in a constrained land supply, which will have higher values as the real estate market continues to recover," said Pat Jackson, CEO of Sabal Financial Group. "We have the luxury of being patient in working out these assets."
Sabal specializes in the acquisition and valuation of portfolios of real estate loans with a concentration on commercial real estate loans and commercial and residential acquisition, development and construction (ADC) loans.
Sabal has been acquiring loan portfolios since 2009 and has amassed nearly $4 billion in assets under management.
"2012 has been an important year for us," said Jackson. "Our goal is to continue leveraging our platform to expand our growth."
While continuing to increase its assets under management, Sabal Financial Group has also been expanding its bank consulting practice, providing a broad spectrum of valuation, underwriting and asset management services to community and investment banks.
In addition, in June 2012, Sabal established a residential builder-lending platform to provide non-recourse acquisition and development loans to homebuilders in California, Seattle, and Portland metro areas.
About Sabal Financial Group
Sabal Financial Group, L.P. is a nationwide diversified financial services firm specializing in the acquisition, valuation, management and servicing of commercial real estate and acquisition, development and construction (ADC) loans and mortgages. Sabal Financial Group provides credit advisory services and loan portfolio management and performance assessments for investment and commercial banks, including capital assessment based upon portfolio and ALLL analysis. Sabal also provides construction and A&D loans to established middle-market residential builders in California, Washington and Oregon. Sabal Financial Group is a privately held company that has approximately $3.5 billion under management and is led by a senior management team with extensive banking and real estate expertise in both the governmental and private sector. Sabal Financial Group is headquartered in Newport Beach, CA, with offices in Pasadena, CA, Miami, Washington, DC, Greenville, SC and New York City. www.sabalfin.com