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Lakeport Capital Secures $175 Million Joint Venture Through Finitive Platform to Buy Distressed Mortgages

Oct 07, 2020•almost 5 years ago

Amount Raised

$175 Million

New York

Description

 Finitive, a financial technology platform providing institutional investors with direct access to private credit transactions, today announced that it has facilitated a joint venture between real estate investment firm Lakeport Capital ("Lakeport") and a division of one of the top 50 global banks (the "Investor") to acquire non-performing residential mortgage (NPL) portfolios. Under terms of the joint venture, the Investor has committed to purchasing up to $175 million NPLs. 

Company Information

Company

Lakeport Capital

Location

New York, New York, United States

About

Lakeport Capital is a real estate investment manager that sources, underwrites, acquires, and manages non-performing mortgage loans and non-performing mortgage loan portfolios secured by residential real estate, primarily single-family homes, condos, and one- to four-unit multifamily properties. The company has particular expertise in buying and working out defaulted first mortgages and second-lien loans in judicial foreclosure jurisdictions in New York, New Jersey, Connecticut and Florida. Lakeport Capital uses several NPL resolution strategies including litigation, foreclosure proceedings, deed in lieu, and negotiated settlements. Learn more at https://www.lakeportcapital.com/.

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