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Jan 20

  • G8 Capital has so far acquired 400 beds of a 720-bed senior living community and spearheaded multiple closings amongst several financial institutions within the project
  • G8 Capital has completed more than 30 bulk acquisitions and purchased 1500+ REO properties and residential whole loans nationwide from major banks
  • G8 Capital plans to invest more than $150 million in multifamily properties in the coming year

LADERA RANCH, CA – January 20, 2010 - G8 Capital announced today a multi-bank deal to acquire 400 beds of a 720-bed senior living community in Western Florida with 200 additional beds closing in the coming weeks. The property is a 55+ community developed as a shared living space for active seniors.

G8 Capital was sought to acquire a portion of the community by a bank who found themselves unable to sell the property through typical retail channels due to Home Owners Association and management challenges. G8 Capital was able to provide a quick closing for the bank, as well as facilitate multiple closings among the other bank-owned units with several other financial institutions.

In addition to the recent senior living acquisition in western Florida, G8 Capital has also purchased more than 200 units between two multifamily properties in Bakersfield and Ridgecrest, CA. G8 Capital has now completed more than 30 bulk acquisitions since inception in 2007, and has purchased more than 1,500 REO properties and residential whole loans nationwide from nearly all of the major banks and top servicers in the United States. G8 Capital is planning to invest more than $150 million during 2010 in “living component” assets, including multifamily properties, condo-conversions and senior living facilities.

“We were pleased to work with several financial institutions in our recent acquisition of the senior living community. Given our successful track record, we are now being sought out by financial institutions throughout the United Sates to facilitate quick closings on residential and multifamily portfolios, including properties and projects that have  challenges associated with them,” said Evan Gentry, president and CEO of G8 Capital.

About G8 Capital

G8 Capital (www.g8cap.com) buys distressed mortgage loan portfolios, as well as other performing and non-performing loans and real estate (REOs). G8 Capital acquires both residential and commercial mortgage portfolios/properties from mortgage companies and financial institutions that are liquidating assets and looking to get fair wholesale value. The Company is currently bidding on mortgage and REO portfolios that are worth between $5 million and $500+ million.