Given the varied nature of the loan statuses, Rhenium had the seller provide updated title O&E reports in the due diligence vault for each loan. The bank provided detailed transaction and interaction histories with the borrowers for each deal as well.
Rhenium ran a strategy offering the entire portfolio, as well as a one-off or combo purchase option in order to provide best pricing and execution. The asset was marketed in a traditional call for offers, however pricing was so close amongst the top bidders, post event negotiations between the top three buyers took place in the following weeks. The entire pool was eventually sold to a national investor.
