"Sales of other real estate owned
were essentially on a break-even basis for the third quarter of 2011, consistent with the second quarter of 2011.
The decline in impairment and gains and losses on sales of other real estate owned
and repossessed assets was driven mainly by the year-over-year decline in the size of this asset portfolio and the timing of the Company recording impairments.
The increase in other income was primarily due to the gain on sale of property held for future development which amounted to USD806,000, and to a lesser extent, net gains from the sale of other real estate owned
which amounted to USD326,000.
The decrease in non-performing assets during the quarter was primarily due to a $3 million or 8% decrease in real estate owned
. Delinquencies on loans decreased to 0.90% at
1 March 2013 - Puerto Rico-based Popular Inc (NASDAQ:BPOP) said today its main banking unit, Banco Popular de Puerto Rico, agreed to sell USD568m (EUR435.9m) book value of non-performing loans and other real estate owned
to a company controlled by a joint venture between Caribbean Property Group LLC and affiliated funds of Perella Weinberg Partners Asset Based Value Strategy.
Non-performing loans decreased USD1,091,000 from September 2011 to September 2012 and other real estate owned
increased USD4,298,000 in the same time period.
Earnings before provision for loan loss and real estate owned
write-downs of USD276,000 (USD1.1m annualised) for the fourth quarter ended December 31, 2011, compared with USD45,000 (USD180,000 annualised) for the fourth quarter of 2010.
Appreciation of the billions of dollars in commercial real estate owned
by aging baby boomers has created huge demand for selling these highly appreciated properties to create cash flows through other sources, without the headaches associated with managing and owning a property.
Tenders are invited for housing management services provided on a fee or contract basis, except for real estate owned
for a fixed time of year, except for technical inventory services
Earnings before non-cash expenses of depreciation and amortization, loan loss provisions, real estate owned
write-downs and stock option expense were USD214,000 in the period, up from USD213,000 in the second quarter of 2011.
"This strategic expansion of Patriot Equities' all-star lineup furthers the company's growing reputation as the premier destination for corporate real estate professionals, and validates the strength of our core mission: streamlining processes for the executives responsible for the estimated $3 trillion of real estate owned
by corporate America," says Erik Kolar, president and CEO of Patriot Equities.
1 real estate owned
by the municipality of recanati (castello di montefiore) located in the marche region, Along historical-religious routes and cycle paths