Loan Sale Advisory – Gig Harbor, WA



Environmental contamination confirmed onsite - previous replacement of tank did not remediate petroleum contaminaton below actionable levels.

Age of underground tanks - functioning tanks were three years from exceeding insurable life.

Judgment on property due to external litigation.

Delinquent taxes - tax bill unpaid for two years.

Onsite sewer system not up to city code.

Poor location - only 3,000 vehicles per day passing the site.


In order to maximize recovery value and exposure, we ran a standard five week bidding period and marketing campaign targeting business and environmental buyers. Indicative bids were placed at the conclusion of week four, and best and final bids were received at the end of week five.
Some of the interested note investors visited the site to confirm operation and assess the location during the best and final period. The highest bids for the asset were received from business investors and environmental contamination specialists. The note was purchased by an out-of-state business investor looking to arrange a DPO.

Deal Overview

Loan Status Maturity Default
Recourse Yes
Bankruptcy No
Environmental Issues Yes
Mod/Forbearance Date NAP
Property Taxes $31,901 Due
Taxes Current No
NOD Issued Yes
Judgment Date NAP
Notice of Foreclosure NAP
Receiver Appt. Date NAP

Marketing Stats

Deal Website Views 1,146
Registered Visitors 109
Linked Flyers Downloaded 40
CA’s Executed 49
Offers 12
Closing Period 5 days
Sale Price to UPB 18%

Buyer Profiles

  • Business Invetor
  • National Fund
  • Environmenatal Buyer

Institutional Execution Middle Market Focus