OFFERING ANNOUNCEMENT: ORE-15-22
$6.4 Million in Non-Lead Participations in Owned Real Estate
On behalf of the Federal Deposit Insurance Corporation (FDIC), as Receiver for multiple failed institutions, First Financial Network, Inc. (www.ffncorp.com) is pleased to announce FDIC Sale ORE-15-22.
ORE-15-22 consists of 10 non-lead participation interests. Certain real estate collateral for the underlying loans has been acquired by the lenders and a list of owned real estate is below. The lenders also have certain deficiency rights related to the underlying loans, one of which has been reduced to judgment and is listed separately below.
|City||State||Property Type||Collateral Description||FDIC Owned Percentage|
|Prescott Valley||AZ||Land||5.13 Acres Industrial Land||66.67%|
|Yuma||AZ||Hotel||150 Room Hotel (Leasehold)||8.20%|
|Monterey||CA||Land||1.73 Acre Residential Lot||90%|
|Lake Park||GA||Land||8.98 Acres of Commercial Land||13%|
|North Las Vegas||NV||Land||1.36 Acres of Vacant Land||53.12%|
|North Las Vegas||NV||Land||2,004 Acres of Commercial/Industrial Land (2 participations)||24.79%/16.53%|
|Marshfield||WI||Land||25 Condo Lots||31.79%|
Access to online due diligence for this offering is open to all bidders that meet FDIC's requirements for Level 2 information. To review the requirements to access Level 2 information, please click here FDIC Level 2 Requirements.
|Investor Due Diligence||February 23, 2015 - March 25, 2015|
|Bid Date||March 25, 2015 - 12:00 pm CST|
|Closing Date||April 10, 2015|
This advertisement is an announcement only and does not constitute an offer to sell, or a solicitation of an offer to buy, any loans or any interest therein. Information concerning the loans will be furnished only to persons who demonstrate that they have a level of financial sophistication and resources sufficient to evaluate and bear the risks of an investment in the loans. The loans, assets or portfolios may be offered "AS IS" and without any representations or warranties of any kind whatsoever by any entity.
The FDIC conducts loan sales with the support of three loan sale advisors. When the FDIC has loans available for sale they may be marketed on one of the loan sale advisors’ websites.
To participate in a loan sale offering, please contact each of the loan sale advisors and request an account be established on the respective website. Each loan sale advisor has its own requirements for granting access. You are encouraged to register so you will receive notice of any FDIC loan sale offering.
First Financial Network (FFN)
Mission Capital Advisors
The Debt Exchange (Debt)
Additional information on the loan sale process can be found at FDIC: Loan Sales (http://www.fdic.gov/buying/loan/index.html).