- The portfolio, which was closed quickly with all cash, includes loans secured by California real estate and business assets, including industrial, office and retail buildings;
- G8 Capital has acquired 45 non-performing or distressed commercial loans across multiple portfolios since last year
LADERA RANCH, CA – November 7, 2011 – G8 Capital announced today that it has completed the acquisition of a $6.2 million portfolio of distressed commercial loans from a major U.S. banking institution. The acquisition was closed quickly with all cash, and the portfolio is comprised of loans secured by California real estate and business assets, including industrial, office and retail buildings.
G8 Capital continues to be one of the most active buyers of distressed commercial and residential real estate loans and properties from banks and government agencies. In addition to its significant residential property acquisitions, G8 Capital has acquired 45 non-performing or distressed commercial loans across multiple portfolios since last year.
“G8 Capital has forged strong long-standing business relationships with most of the top banks and government lending agencies in the U.S. This latest portfolio acquisition from a leading U.S. bank illustrates how we are able to close quickly – often with all cash – to benefit banks and government agencies, as well as secure unique and attractive opportunities for investors,” said Evan Gentry, president and CEO, G8 Capital. “We have already started working with the borrowers of this most recent portfolio with a focus on creating workable solutions for all where possible.”
G8 Capital is actively acquiring bulk portfolios with assets throughout the United States with an emphasis in the Western states, Texas and Florida. G8 Capital has proven a valuable partner for sellers seeking to get fair wholesale value for their REO portfolios, as well as their performing and non-performing residential and commercial loan portfolios.
Once a portfolio is acquired, G8 Capital’s approach is to work closely with the borrowers to assess their situation and determine work-out solutions where possible. Work out solutions may include short sale, obtaining deed in lieu of foreclosure, or restructuring the loan.
About G8 Capital
G8 Capital (www.g8cap.com)is a prudent and disciplined investment firm focused on opportunity-based acquisitions of both residential and commercial real estate assets. G8 Capital acquires real estate and loan portfolios from financial institutions, government agencies and other sellers that are looking to get fair value and timely execution.
- G8 Capital Surpasses 3,000 Single-Family REO Acquisitions Since 2008;
- G8 Capital Has Completed More Than 30 Bulk REO Portfolio Acquisitions;
- G8 Capital Is Successfully Helping Financial Institutions and Government Agencies Get Fair Wholesale Value for Their REOs and Loans Despite the Economic Downturn
LADERA RANCH, CA – September 6, 2011 – G8 Capital announced today that it has surpassed 3,000 Single-Family REO properties acquired since 2008. Leveraging long-standing business relationships, G8 Capital continues to be one of the most active buyers of bulk single-family REO portfolios from banks and government agencies. The firm has completed more than 30 bulk REO portfolio acquisitions since 2008.
Although G8 Capital has successfully repaired and sold the large majority of REOs acquired, the firm has begun holding single-family properties in a growing rental portfolio. The firm has more than 350 single-family or condo properties being held as rentals today. G8 Capital’s long-term strategies include lease-to-own and contract sales to tenants desirous to own homes. The firm has successfully worked with communities to restore blighted properties and neighborhoods.
“The G8 Capital team has established itself as a partner with sellers of REO portfolios,” said Evan Gentry, president and CEO, G8 Capital. “The firm is well positioned to capitalize on the growing wave of REO properties and increased focus by banks and government agencies to move these REOs off their books.”
G8 Capital is actively acquiring portfolios with assets throughout the United States with an emphasis in the Western states, Texas and Florida. G8 Capital has proven a valuable partner for sellers seeking to get fair wholesale value for their REO portfolios, as well as their performing and non-performing loan portfolios. Once acquired, G8 Capital works hands-on with borrowers and tenants to jointly seek creative solutions that work for all.
G8 Capital is led by a professional, experienced team. The Company was founded in 2007 by Evan Gentry. Previously Mr. Gentry was the CEO of MoneyLine Lending Services. After co-founding MoneyLine in 1996, Mr. Gentry led MoneyLine’s outsourced services business to include 50 banks nationwide. Mr. Gentry also created and led a strategic alliance between Freddie Mac, the American Bankers Association and MoneyLine to provide outsourced mortgages services to community banks nationwide. Mr. Gentry led the sale of MoneyLine to Genpact, a spin-off of GE Capital, in mid-2006.
About G8 Capital
G8 Capital (www.g8cap.com)is a prudent and disciplined investment firm focused on opportunity-based acquisitions of both residential and commercial real estate assets. G8 Capital acquires real estate and loan portfolios from financial institutions, government agencies and other sellers that are looking to get fair value and timely execution.
- Seasoned real estate professional, Aaron Murray, joins G8 Capital as VP, Acquisitions;
- G8 continues increased focus on commercial real estate NPLs and REO properties
LADERA RANCH, CA – June 20, 2011 – G8 Capital, LLC is pleased to announce the appointment of Aaron Murray as Vice President, Acquisitions. Murray is a seasoned commercial real estate professional. Murray’s commercial real estate experience will be a great benefit as G8 Capital increases its focus to acquire commercial real estate assets. G8 Capital helps financial institutions, loan servicing companies and other sellers get fair wholesale value for their distressed commercial loans and REO properties.
“We are excited to add Aaron to the team and recognize the value his commercial real estate experience brings to the firm,” said Evan Gentry, CEO of G8 Capital. “His knowledge and experience in this realm will be a great benefit as we increase our focus on acquiring commercial NPLs and properties.”
Prior to joining G8 Capital, Murray has worked in acquisitions, deal analysis and asset management roles at BH Properties and Western Development Partners. Murray also worked on the brokerage side of commercial real estate with both CBRE and Coldwell Banker. Murray holds a Master’s Degree in Real Estate Development from USC.
“I am glad to join a growing and entrepreneurial firm and look forward to using my experience to expand the commercial real estate acquisitions. G8 has a proven track record that is very easy to leverage in sourcing new acquisition opportunities,” said Murray.
G8 Capital continues to be successful in all asset classes, and has increased its focus on acquiring commercial real estate assets, with a primary focus on acquiring non-performing and sub-performing commercial loans and REO properties. The firm also continues to purchase single-family REO portfolios. G8 Capital employs numerous strategies with the loans and properties it acquires to accommodate the interest of borrowers where possible and to maximize returns.
About G8 Capital
G8 Capital (www.g8cap.com) is a prudent and disciplined investment firm focused on opportunity-based acquisitions of both residential and commercial real estate assets. G8 Capital acquires real estate and loan portfolios from financial institutions and other sellers that are looking to get fair value and timely execution.
- G8 Capital has recently acquired two REO portfolios, representing 497 single-family properties across 24 states;
- G8 Capital closed one acquisition within three days after another buyer failed to perform, again demonstrating its ability to close quickly with all cash
LADERA RANCH, CA – October 8, 2010 – G8 Capital, a private equity real estate management company, announced today that it recently closed on two additional bulk REO portfolios. The nationwide portfolios consist of 497 single-family properties across 24 different states. The largest concentration of properties was in the Western States, with more than half of the properties located in California and Arizona.
G8 Capital purchases bulk portfolios from nearly all the major U.S. banks, as well as many loan servicers and other owners of REO properties who are looking to get properties off their books while receiving fair wholesale value in return. G8 Capital has purchased more than 2,500 REO properties during the current economic down-cycle, and has completed more than 30 portfolio acquisitions over the past three years.
Banks and other sellers continue to work with G8 Capital because of its proven track record and ability to close quickly and on-time. G8 Capital purchases bulk REO portfolios with cash and funds all its portfolio acquisitions with funds from local, high-net worth individuals.
“G8 Capital continues to be sought out by financial institutions throughout the United Sates because we are able to purchase bulk REO portfolios with cash and facilitate quick closings on residential and multifamily portfolios, including those that have challenges associated with them. We are often approached for quick closings after other firms have failed to perform,” said Evan Gentry, president and CEO of G8 Capital. “We are set apart from many other firms by our ability to consistently perform.”
G8 Capital is primarily focused on acquiring single-family and multi-family residential portfolios — purchasing both REO properties and non-performing loan portfolios. G8 Capital employs numerous strategies with the properties it acquires. The strategy varies based on property location, property size and seller requirements. Strategies include renovating properties to sell to retail buyers, selling to local investors and holding properties as rentals for longer-term cash flow.
About G8 Capital
G8 Capital (www.g8cap.com) is a prudent and disciplined investment firm focused on opportunity-based acquisitions of both residential and commercial real estate assets. G8 Capital acquires real estate and loan portfolios from financial institutions and other sellers that are looking to get fair value and timely execution.
- The portfolio includes 13 performing loans and six non-performing loans;
- G8 Capital has extended its footprint through the Sun Belt states to South Florida
LADERA RANCH, CA – July 21, 2010 – G8 Capital announced today that it has acquired a loan portfolio of multi-family properties in South Florida. The Company closed the transaction with all-cash in less than two weeks. The acquisition extends G8 Capital’s footprint eastward within the Sun Belt states where the Company is actively acquiring residential REO properties and other multi-family loan portfolios. G8 Capital plans to invest another $100 million this year in “living component” assets, including residential and multi-family properties, condo developments and conversions, mobile home parks and senior living facilities.
“We are pleased to expand our footprint eastward within the Sun Belt states to South Florida,” said Evan Gentry, president and CEO. “Our firm’s reputation helped us to win the bid, and we will use our extensive expertise to manage these loans. We have already begun working closely with these borrowers and are confident we can achieve mutually beneficial outcomes.”
The portfolio includes 13 performing loans and six non-performing loans. G8 Capital’s approach with non-performing loans and underwater performing loans is to work closely with the borrower to assess their situation and identify their interests. Workout solutions may include a short sale, obtaining a deed in lieu of foreclosure, or restructuring the loan. If G8 Capital becomes the owner of the property through a foreclosure or negotiated workout, the firms seeks to make necessary physical improvements and put local property management in place to stabilize the property and improve the living condition for valued tenants. In some cases, G8 Capital will resell performing loans at discounted levels to firms looking for strong, long-term cash flows.
G8 Capital has now completed more than 30 bulk acquisitions since inception in 2007, and has purchased more than 2,000 REO properties and residential whole loans nationwide from nearly all of the major banks and top servicers in the United States. The company expects to continue actively acquiring properties and loans nationwide throughout 2010.
About G8 Capital
G8 Capital (www.g8cap.com) is a prudent and disciplined investment firm focused on opportunity-based acquisitions of both residential and commercial real estate assets. G8 Capital acquires real estate and loan portfolios from financial institutions and other sellers that are looking to get fair value and timely execution.
- G8 Capital has acquired 700 multi-family property units in Q2 within DFW’s Metroplex — one of the country’s strongest apartment real estate markets;
- G8 Capital proves again it can quickly close with cash when sellers urgently need to liquidate
LADERA RANCH, CA – July 19, 2010 – G8 Capital announced today that it has acquired three more multi-family apartment complexes in the Dallas/Fort Worth Metroplex; all of which were private deals, two closing in just one week. G8 Capital has now purchased nearly 700 units in the 2nd quarter of 2010 and plans to invest another $100 million in residential and multifamily properties this year. G8 Capital plans to pursue additional investments in Sun Belt states, including the Texas real estate market which currently has the strongest economic climate in the country.
G8 Capital will renovate and improve the assets, enhance the property management strategies, and stabilize the properties to qualify for long-term debt.
“Our experienced team has proven time and again our ability to quickly and efficiently negotiate real estate closings to meet sellers’ needs, and which provide respectable returns for our investors,” said Evan Gentry, president and CEO. “We are successfully negotiating deals in real estate markets throughout the country from the West Coast to Florida, and we look forward to pursuing future acquisitions in the Texas real estate market which offers long-term sustainability and growth.”
In addition, G8 Capital has now completed more than 30 bulk acquisitions since inception in 2007, and has purchased more than 2,000 REO properties and residential whole loans nationwide from nearly all of the major banks and top servicers in the United States. G8 Capital is on track to invest more than $100 million during 2010 in “living component” assets, including residential and multifamily properties, condo developments and conversions, mobile home parks and senior living facilities.
About G8 Capital
G8 Capital (www.g8cap.com) is a prudent and disciplined investment firm focused on opportunity-based acquisitions of both residential and commercial real estate assets. G8 Capital acquires real estate and loan portfolios from financial institutions and other sellers that are looking to get fair value and timely execution.
- G8 Capital proves again it can close a deal efficiently and quickly after the initial investor failed to perform;
- The 264-unit property is located in DFW’s Metroplex, one of the country’s strongest apartment real estate markets;
- G8 Capital plans to invest another $130 million in residential and multifamily properties this year, including prudent investments in the Texas real estate market.
LADERA RANCH, CA – May 6, 2010 – G8 Capital announced today that it has acquired a multi-family apartment complex in Ft. Worth, Texas which it was awarded as the initial buyer failed to perform after two months of lost time for the special servicer. G8 Capital came in and quickly closed the deal within 3 weeks. G8 Capital buys distressed mortgage loan portfolios, as well as other performing and non-performing loans and real estate (REOs), helping both property owners and their lenders.
“Banks and other sellers continue to reach out to G8 Capital because we have a proven track record of committing to and closing deals in a very timely manner, typically with all cash,” said Evan Gentry, president and CEO of G8 Capital.
“This is the second transaction in a row where G8 Capital closed very quickly after another investor could not perform, showing the importance of counter-party risk and transacting with buyers that can and will perform,” added Daryl Schwartz, Vice President of Acquisitions for G8 Capital.
The multifamily complex, with 264 units on 12.96 acres, is well located within “the Metroplex” which has experienced a large influx of residents in the past year, contributing to high city-wide occupancy rates. In fact, Fort Worth ranks as the 5th best apartment market in the country for 2010. The complex is also located near major area employers including DynCorp., Naval Air Station Joint Reserve Base Fort Worth, and Lockheed-Martin.
G8 Capital plans to completely renovate the complex, offer move-in incentives to tenants, and ultimately significantly increase the area’s tenant occupancy rate. The company also plans to invest at least another $130 million in residential and multifamily properties in 2010, including other investments in the Texas real estate market which currently has the strongest economic climate in the country.
“G8 Capital’s experienced team makes careful risk-adjusted investments in locations that show growth and opportunity, preserving the interest of investors,” said Gentry. “With a disciplined strategy and the relationships necessary to identify and secure attractive opportunities, we are able to consistently deliver exceptional returns to our investors.”
In addition to the recent investment, G8 Capital has now completed more than 30 bulk acquisitions since inception in 2007, and has purchased more than 2,000 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 $130 million during 2010 in “living component” assets, including residential and multifamily properties, condo developments and conversions, mobile home parks and senior living facilities.
About G8 Capital
G8 Capital (www.g8cap.com) is a prudent and disciplined investment firm focused on opportunity-based acquisitions of both residential and commercial real estate assets. G8 Capital acquires real estate and loan portfolios from financial institutions and other sellers that are looking to get fair value and timely execution.
- 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.
G8 Capital Is Working With Residents of the Naval Community of Ridgecrest, California to Maintain Tenancy Since Investor Fraud and Economic Downturn Left Occupants of a 300-Unit Condominium Development Facing Foreclosure and Eviction
LADERA RANCH, CA – August 4, 2009 – G8 Capital announced today that it has purchased more than 70 of the 300 units in the La Mirage condominium development being foreclosed on in the Central California city of Ridgecrest, California. G8 Capital buys distressed mortgage loan portfolios, as well as other performing and non-performing loans and real estate (REOs), helping property owners and their lenders.
The 300-unit condominium development was originally military housing which supported the China Lake Naval Base. However, after being converted to investment properties under straw buyers and then dropping significantly in value with the housing market in recent years, the units began foreclosing. Tenants of the troubled 300-unit development have been forced out amidst a serious housing shortage in the growing town which is expected to bring an additional 1000 or more jobs to the Naval Base through 2011.
Since learning of the displaced La Mirage tenants and the plight of the city of Ridgecrest, which is earnestly seeking to assist its residents and the growing community, G8 Capital began due diligence and has been working with lenders to acquire most of the foreclosed units so tenants can remain in their homes and help maintain the development.
“It was absolutely amazing how quickly G8 Capital was able to get the job done despite the complex legal challenges involved,” said Michael Avery, Ridgecrest city manager. “Thanks to G8 Capital’s ability to get these units back on the market, tenants, who would have been notified of eviction due to foreclosure or taken cash for keys, are allowed a chance to stay in their unit or find new living conditions in the same housing complex.”
“We are really pleased to be helping many of the tenants, forced out ultimately because of a fraudulent investor scheme and economic downturn, to stay in their homes,” said Evan Gentry, president and CEO of G8 Capital. “We are anxious to help the city of Ridgecrest — which is supporting a critical naval base — to get the La Mirage development back on its feet, and we believe our acquisition of 70 units will get the community well on its way. Our goal is to acquire a majority of the units in the project, and based on our current discussions we are well on our way to getting this done.”
G8 Capital acquires portfolios with assets throughout the United States with an emphasis in the Western part of the country. The Company has successfully closed distressed portfolios with several sellers, and has raised significant funds with which to acquire additional REO portfolios.
G8 Capital has proven a valuable resource for secondary market, loss mitigation and asset managers looking to get fair wholesale value for their REO portfolios, as well as their performing and non-performing loan portfolios. Once acquired, G8 Capital is working hands-on with borrowers to restructure or jointly create a work-out situation to allow homeowners and renters to stay in their homes.
G8 Capital is led by a professional, experienced team. The Company was founded in 2007 by Evan Gentry. Previously he was the CEO of MoneyLine Lending Services. After co-founding MoneyLine in 1996, Mr. Gentry led mortgage origination efforts for several dozen financial institutions for nearly a decade. Mr. Gentry led the growth of MoneyLine’s outsourced services business to include 50 banks nationwide, and received recognition by Inc. Magazine’s “Inc. 500 Fastest Growing Companies.” He sold MoneyLine to Genpact, a spin-off of GE Capital, near the peak of the market in mid-2006.
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.
- G8 Capital Closes Acquisition Same Day as Winning the Bid to Accommodate Seller’s Month End; The Portfolio Consists of 182 Residential REO Properties Across 27 States
- G8 Capital is Successfully Helping Financial Institutions Get Fair Wholesale Value For Their REOs and Loans Despite the Economic Downturn
LADERA RANCH, CA – May 6, 2009 – G8 Capital announced today that it has closed its 15th portfolio acquisition of REO and distressed mortgage properties in just over a year. G8 Capital won the portfolio, which consisted of 182 residential REO properties across 27 states, by successfully closing within two hours notice.
After performing an initial diligence review, G8 Capital was the second highest bidder on the bulk REO portfolio, subsequently awarded to another buyer. However, on April 30th, G8 Capital was notified that the other buyer could not perform and the seller needed to close the same day to accommodate a month-end closing. G8 Capital worked quickly and wired funds within two hours, securing the portfolio the same day.
“Our most recent portfolio acquisition is another testimony of G8’s ability to outperform our competitors and to help sellers quickly and efficiently move assets off their books,” said Evan Gentry, president and CEO, G8 Capital. “Our team has a proven track record and we’re poised to move just as quickly in the coming months as we anticipate a major wave of REOs being created by the recent expiration of national foreclosure moratoriums.”
G8 Capital is actively acquiring portfolios with assets throughout the United States with an emphasis in the Western part of the country. The Company has successfully closed distressed portfolios with several sellers, and has raised significant funds with which to acquire many coming REO pools anticipated by the current backlog of foreclosed properties.
G8 Capital has proven a valuable resource for secondary market, loss mitigation and asset managers looking to get fair wholesale value for their REO portfolios, as well as their performing and non-performing loan portfolios. Once acquired, G8 Capital is working hands-on with borrowers to restructure or jointly create a work-out situation to allow homeowners to stay in their homes with more affordable payments.
G8 Capital is led by a professional, experienced team. The Company was founded in 2007 by Evan Gentry. Previously he was the CEO of MoneyLine Lending Services. After co-founding MoneyLine in 1996, Mr. Gentry led mortgage origination efforts for several dozen financial institutions for nearly a decade. Mr. Gentry led the growth of MoneyLine’s outsourced services business to include 50 banks nationwide, and received recognition by Inc. Magazine’s “Inc. 500 Fastest Growing Companies.” He sold MoneyLine to Genpact, a spin-off of GE Capital, near the peak of the market in mid-2006.
About G8 Capital
G8 Capital, LLC (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 $100 million.