First Financial Network Announces Sale Closing of Performing and Non-Performing Commercial Loans Totaling $112 Million for Financial Institutions and Funds
OKLAHOMA CITY, June 11, 2020 /PRNewswire/ -- First Financial Network, Inc. (FFN), a leading international loan sale advisor, has announced the successful sale of performing and non-performing loans totaling $112 million on behalf of several financial institutions and funds. The assets sold included predominantly commercial real estate loans (office, industrial, retail, mixed-use, and multifamily) as well as C&I business assets. These loan sales further demonstrate the strength of FFN's industry-leading online platform during one of the most challenging times the world has faced.
The loans were sold following an online due diligence and bidding process conducted by FFN on its secure Loan Sale Network™ platform starting March 10, 2020, on behalf of eight clients made up of money center banks, community banks, and funds.
Bliss Morris, Founder and CEO of FFN, said, "Over the past three months the world at large has been challenged by the devastating pandemic. We were able to utilize our proven online platform to continue to serve our clients and close loan sales that have in turn helped them hedge future risk. espite the difficult times, the loan sales market has remained active, giving a clear indication that buyers are actively pursuing good investment opportunities."
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SOURCE First Financial Network
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