Las Vegas Commercial Real Estate

New York-based Compass Partners, a private equity firm, has closed on its acquisition of the assets of USA Commercial Mortgage Co.’s First Trust Deed Fund. Compass’ $67-million offer was the high bid at a bankruptcy court auction in December.

Compass Partners does not plan to liquidate the assets, but rather service the loans through the new entity it has created called Compass Financial Partners LLC. The company states that all of the loans are backed by real estate assets located throughout the U.S. and that they intend to stabilize and resolve the outstanding loans in six to 12 months.

This entry was posted on Wednesday, February 21st, 2007 at 11:37 pm and is filed under Commercial Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.